Norway Pension Fund Dumps Two Defense Firms Over Israeli Military Ties

Norway’s largest private pension fund has excluded two defense companies from its portfolio, citing their links to the Israeli military and the war in Gaza, Bloomberg News reported.

KLP said it concluded that the actions of Oshkosh Corp. and ThyssenKrupp AG were “contravening” the fund’s investment guidelines. I Photo: Oshkosh Defense Facebook

KLP Pension, which manages about $114 billion, said Monday it would no longer invest in Oshkosh Corp. and ThyssenKrupp AG because they sell weapons to the Israeli military.

The move followed a 2024 United Nations report identifying companies that supplied weapons to the Israel Defense Forces, which were later deployed in Gaza.

After discussions with both firms, KLP said it concluded that their actions were “contravening” the fund’s investment guidelines.

In Gaza, the Associated Press (AP) reported that Israeli forces killed at least 67 Palestinians, including 30 people in an airstrike on a seaside café and 22 who were shot while trying to access food aid, according to witnesses, hospital officials, and the Hamas-run health ministry.

The latest Israeli attacks have pushed the Palestinian death toll in the war beyond 56,000, the AP said, citing Hamas health officials, who do not distinguish between civilians and combatants.