Gaza: Netherlands' largest pension fund also sells Caterpillar shares - Dutch Pension Giant ABP Dumps Caterpillar Over Israeli-Palestinian Conflict
Dutch pension giant ABP has sold its stake in Caterpillar, citing social responsibility concerns. The move follows similar action by the Norwegian State Fund, both pension funds divesting due to Caterpillar's products being used in the Israeli-Palestinian conflict.
Caterpillar's equipment, including bulldozers, is used by Israeli authorities to demolish Palestinian homes in the Gaza Strip. This practice is considered a violation of international humanitarian law. Despite this, Caterpillar has not taken steps to prevent its products from being used in this manner.
ABP, which prioritizes good returns alongside social responsibility, engaged with Caterpillar before divesting. However, the company's inaction on the issue led ABP to sell its shares. The Dutch fund joins the Norwegian State Fund, the world's largest pension fund, in divesting from Caterpillar over this matter.
ABP's divestment from Caterpillar highlights the growing influence of social responsibility in investment decisions. Both ABP and the Norwegian State Fund have taken action due to Caterpillar's products being used in the Israeli-Palestinian conflict, putting pressure on the company to address the issue.
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