Norwegian fund blacklists Caterpillar over fears of use in Gaza
3 Min Read
Norway's KLP has expressed fears that Caterpillar may be contributing to human rights abuses and violations of international law in the West Bank and Gaza.
-
A Caterpillar machine works on the demolition of a building in downtown Pittsburgh on April 28, 2022. (AP)
Norway's largest pension fund announced Wednesday that it has withdrawn from US manufacturing giant Caterpillar due to the potential of its equipment being used by the Israeli occupation forces (IOF) in its war on Gaza which has killed over 37,000 Palestinians and injured over 86,000.
Bloomberg reported in March that the Norwegian government advised its enterprises against engaging in trade and economic operations that contribute to the continued existence of Israeli settlements, reinforcing its current position.
Kiran Aziz, head of responsible investments at KLP stated that "For a long time, Caterpillar has supplied bulldozers and other equipment that has been used to demolish Palestinian homes and infrastructure to clear the way for Israeli settlements," adding that the company is also alleged to use the equipment in its aggression on Gaza.
As a result, the KLP stated there was a risk the company may be "contributing to human rights abuses and violation of international law in the West Bank and Gaza."
According to the fund, since Caterpillar cannot give guarantees that it is not involved in such actions "we have decided to exclude the company from investment."
KLP said earlier this month that it has disposed of its Caterpillar shares worth 728 million kroner ($68.6 million). The fund now manages around $90 billion.
In April 2021, the KLP barred enterprises associated with Israeli settlements in the occupied West Bank, including telecom equipment company Motorola.
UN deplores Israeli ‘lawless behavior' amid ongoing genocide in Gaza
As the Israeli aggression on Gaza continues, the UN human rights office has condemned "Israel's" "lawless behavior" in the Strip and the occupied West Bank.
The Office of the United Nations High Commissioner for Human Rights (OHCHR) announced the denunciation in a statement on Sunday, criticizing the recent Israeli strikes on the al-Shati refugee camp in northern Gaza, killing at least 50 Palestinians.
These "attacks appear to be disproportionate in that they would be expected to cause incidental loss of civilian life, injury to civilians, and damage to civilian objects excessive in relation to the concrete and direct military advantage anticipated," according to the bureau.
Regarding the Israeli abuse of Palestinians as human shields following the circulation of a video showing Israeli occupation soldiers tying a Palestinian civilian to the front of a military jeep in Jenin, the Organization for Human Rights (OHCHR) denounced "continued and flagrant violations of international human rights law and international humanitarian law binding on Israel as the occupying power."
"Such actions constitute serious violations of Israel's obligations under occupation law concerning protected persons and under international human rights law concerning individual rights to life and health, the absolute prohibition of inhuman or degrading treatment or punishment."
