Norwegian pension fund divests from companies selling to Israeli military
Al Jazeera
KLP, Norway’s largest pension fund, will no longer do business with two companies, one US, the other German.
Norway’s largest pension fund, KLP, has said that it will no longer do business with two companies that sell equipment to the Israeli military because the equipment is possibly being used in the war in Gaza.
The two companies are the Oshkosh Corporation, a United States company mostly focused on trucks and military vehicles, and ThyssenKrupp, a German industrial firm that makes a broad selection of products, ranging from elevators and industrial machinery to warships.
“In June 2024, KLP learned of reports from the UN that several named companies were supplying weapons or equipment to the [Israeli army] and that these weapons are being used in Gaza,” Kiran Aziz, the head of responsible investments at KLP Kapitalforvaltning, said in a statement provided to Al Jazeera.
“Our conclusion is that the companies Oshkosh and ThyssenKrupp are contravening our responsible investment guidelines,” the statement said.
“We have therefore decided to exclude them from our investment universe.”
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