Story perspectives

Norway Fund Cuts Ties with Caterpillar, Israeli Banks Over Ethics

8/28/2025

Summary

Story summary

Norway's sovereign wealth fund divested from Caterpillar and five Israeli banks due to ethical concerns over human rights violations.
The fund's ethics council cited Caterpillar's role in unlawful destruction of Palestinian property.
This action decreased the fund's Israeli investments from 61 to 33 amid rising public pressure.
The excluded banks finance Israeli settlements, considered illegal under international law.
The fund's decisions highlight increasing scrutiny of investments related to the Israeli occupation.

History

Historical Context

In 2005, the United Nations General Assembly adopted Resolution 60/147, highlighting human rights in investment practices. This resolution coincided with a broader movement towards ethical investing, as seen in Norway's sovereign wealth fund's 2022 decision to divest from Caterpillar and five Israeli banks due to their involvement in human rights violations, signaling a potential shift in global investment strategies.

1 of 2

Story summary

Norway's sovereign wealth fund divested from Caterpillar and five Israeli banks due to ethical concerns over human rights violations.
The fund's ethics council cited Caterpillar's role in unlawful destruction of Palestinian property.
This action decreased the fund's Israeli investments from 61 to 33 amid rising public pressure.
The excluded banks finance Israeli settlements, considered illegal under international law.
The fund's decisions highlight increasing scrutiny of investments related to the Israeli occupation.

1 / 2