Norway’s $2 trillion wealth fund, the world’s largest, said it has divested from US construction equipment group Caterpillar b/c Israel uses Caterpillar tractors “in the widespread unlawful destruction of Palestinian property”, together with five Israeli banking groups: Hapoalim, Bank Leumi, Mizrahi Tefahot Bank, First International Bank of Israel and FIBI Holdings.
The reason: “an unacceptable risk that these companies contribute to serious violations of the rights of individuals in situations of war and conflict”, said the fund, which is operated by Norway’s central bank.
Norway’s sovereign wealth fund is excluding certain Israeli banks because they provide financing for the construction of Israeli settlements in the occupied Palestinian territories, which the fund’s ethics council deems a contribution to serious human rights violations in a situation of conflict.
The fund’s decision also relates to the broader context of the war in Gaza and humanitarian concerns.
The primary reason cited by the Norges Bank’s ethics council is that the banks in question, including Bank Leumi, Bank Hapoalim, and Mizrahi Tefahot Bank, have been financing construction activities in Israeli settlements in the occupied Palestinian territories.
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The council concluded that these activities contribute to serious violations of rights in situations of war and conflict.
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The fund’s decision is also influenced by the humanitarian crisis in Gaza and the deteriorating situation in the West Bank.
The exclusion process is not arbitrary; it follows a formal decision-making process involving the Norwegian Government Pension Fund’s ethics council.
The fund can exclude companies and banks that are involved in human rights violations or activities that contribute to serious problems in times of conflict.
if you want to make money, invest in American construction equipment. If you want to make Tons of money, two simple words. Jew bank.
Suckers are going to lose out on quite a bit of wealth.
Norway. For 800 years they were the most feared warriors in the western hemisphere. Now they are the biggest pussies with men sitting to pee. Better hope they never get in a war with Israel. They’ll be crushed in a week.