Norway's largest pension fund KLP has sold its entire holding in American Caterpillar. This involves shares and bonds worth 728 million Norwegian kronor, according to Kiran Aziz, KLP's investment manager.
KLP motivates the decision by stating that Caterpillar's machinery is used to destroy Palestinian homes and infrastructure "to pave the way for Israeli settlements".
The investment manager also refers to the fact that equipment from Caterpillar is used by the Israeli defence forces.
The Oslo-based fund manages assets of around 100 billion dollars (equivalent to 1,050 billion kronor).
