The Norwegian pension fund is stripped of companies that sell to the Israeli army Israeli conflict news

KLP, the largest pension box in Norway, said he will not deal with two companies selling equipment for the Israeli army because the equipment may be used in the war in Gaza.

The two companies are Oshkosh Corporation, the United States Company often focuses on trucks and military vehicles, and Thyssenkrup, a German industrial company that manufactures a wide range of products, from elevators and industrial machines to warships.

Kiran Aziz, head of investment responsible at Klp Kapitalfaltning, said, “

“Our conclusion is that the companies, Oakoush and Send, are opposed to our responsible investment guidelines,” the statement said.

“So we decided to exclude them from our investment world.”

According to the pension fund, it had $ 1.8 million in investments in Ouchoush and about a million dollars in Thyssenkrup until June 2025.

KLP, which was established in 1949 and the largest pension fund in the country, is supervising a fund worth $ 114 billion. It is a public pension fund owned by municipalities and companies in the public sector, and it has a retirement system that covers about 900,000 people, most of whom are municipal workers, according to its website.

Vehicles and warships

KLP said that he was in contact with the two companies before making its decision and that Oskoush “confirmed that it was sold, continued to sell, the equipment used by the (Israeli army) in Gaza,” and most cars and spare parts for vehicles.

Thyssenkrup Klp told “it has a long -term relationship with (the Israeli army)” and that it had handed over four SA’ar 6 warships to the Israeli navy from November 2020 to May 2021.

The German company also said it has plans to submit to the Israeli navy later this year.

When KLP was asked about the checks and balances that were made when it comes to the equipment provided by companies, KLP said that both Oukushoush and Sendkrop “failed to document the necessary due care regarding their potential complicity in humanitarian violations.”

Aziz said: “The companies have an independent duty to practice due care in order to avoid collusion in basic human rights violations and humanitarian law.”

Previous disposal operations

This is not the first time that the pension fund has ignored the companies associated with potential human rights violations.

In 2021, klp Connected from 16 companiesIncluding the Communications Giant Communications Company, which was concluded until it was linked to the illegal Israeli settlements in the occupied West Bank.

The pension fund said that there were “unacceptable risks that excluded companies contribute to the abuse of human rights in cases of war and conflict through their links to Israeli settlements in the occupied West Bank.”

In the same year, KLP also said that it ignores the Group of the Port Port and the Indian ADANI Ports because of its ties to the Military government.

Last summer, klp Also get rid of From the United States, Catpeberler. In an opinion article for Al -Jazeera, Aziz from KLP wrote that the Catpeberler bulldozers are subject to modifications in Israel by military and local companies, and are later used in the occupied Palestinian region.

“The continuous use of these bulldozers that have been armed in the occupied Palestinian territories has led to a series of human rights warnings from the United Nations agencies, and NGOs over the past two decades about the company’s participation in the demolition of Palestinian lawyers and the Palestinian transformation,” she wrote.

“Therefore, it is impossible to emphasize that the company has implemented sufficient measures to avoid participating in future standard violations.”

This last step depends on a series of similar decisions between many large investment funds in Europe that reduced relations with Israeli companies for their participation in the war in Gaza or because of links to illegal Israeli settlements in the occupied West Bank.

In May, the sovereign wealth fund in Norway, the largest in the world, He said he will steal From Israel, retail and energy is due to the company’s participation in providing infrastructure and fuel to illegal Israeli settlements.

This came after a previous decision in December of last year to sell all the shares that they had in another Israeli company, Bizak, for its services provided to illegal settlements.

In recent years, other retirement pension funds have distanced the companies accused of enabling or cooperating with Israel’s illegal occupation of the West Bank or its war on Gaza.

In February 2024, the largest pension fund in Denmark was allocated from many Israeli banks and companies, as the fund was afraid that its investments would be used to finance settlements in the West Bank.

Six months later, the largest pension fund in the United Kingdom, the USS retirement scheme (USS), said that he would sell all its investments related to Israel because of its war on Gaza. The fund, which is about $ 79 billion, said it will sell $ 101 million investments after pressure from its members.