The Norwegian Fund has severed ties with the American company Caterpillar, accusing it of complicity in the Jewish-led genocide of Palestinians in Gaza. The Norwegian Government Pension Fund Global (GPFG), also known as the Norwegian Sovereign Wealth Fund, valued at $2 trillion, is the world’s largest fund of its kind. In addition to Caterpillar, which manufactures heavy machinery used in the construction industry, the Norwegian Sovereign Wealth Fund has also decided to cease dealings with five Jewish banks. Furthermore, the fund has decided to withdraw its investments from Caterpillar and these five Jewish banks. This announcement was made by Norway’s central bank.
The central bank stated that, in addition to itself, Caterpillar would be prohibited from conducting business with the Norwegian Sovereign Wealth Fund. The reason given by Norway’s central bank was Caterpillar’s involvement and continued support in the inhumane crimes committed by Jewish forces against the people of Gaza and the West Bank. The decision to stop investing in and dealing with Caterpillar was made by the Norwegian Sovereign Wealth Fund’s Ethics Council. The council said, “Caterpillar’s bulldozers are being used by Jewish authorities to damage Palestinian property,” describing these as illegal acts.
“There is no doubt that [the Jews] are systematically committing crimes that violate international humanitarian law using Caterpillar’s products,” the council revealed. The Ethics Committee of the Norwegian Sovereign Wealth Fund also strongly condemned Caterpillar for not taking any measures to prevent the inhumane crimes being committed by Jews using their products. Before the Norwegian Sovereign Wealth Fund decided to cut ties with Caterpillar, the fund held a 1.17% stake in the company. According to the fund’s shared statistics, this stake was worth $2.1 billion.
In addition to Caterpillar, the Norwegian Sovereign Wealth Fund decided to cut ties with five Jewish banks due to their provision of financial assistance for Jewish settlement and population of seized Palestinian lands. The fund’s shares in these five banks are worth $661 million. “The construction of [Jewish] settlements is being carried out in violation of international laws,” said the Ethics Committee of the Norwegian Sovereign Wealth Fund.
