A File Photo shows the Israeli military using a Caterpillar bulldozer to demolish a home at the Nur Shams Palestinian refugee camp in the occupied West Bank. AFP
Dutch broadcaster NOS reported on Wednesday that ABP had removed Caterpillar from its latest investment list, confirming the $415 million divestment.
ABP, one of the world’s biggest pension funds, declined to comment directly, citing “competition sensitivities.”
Caterpillar has long faced criticism for supplying bulldozers to Israel that are used to demolish Palestinian homes and infrastructure in Gaza and the occupied West Bank.
In 2024, the United Nations (UN) warned the company it risked complicity in human rights violations if exports continued.
The move by ABP follows a similar decision in August by Norway’s sovereign wealth fund, the world’s largest with more than $1.5 trillion in assets, which dropped Caterpillar alongside several Israeli banks.
“There is no doubt that Caterpillar’s products are being used to commit extensive and systematic violations of international humanitarian law,” the fund’s independent council on ethics said at the time.
Norway’s fund has already excluded more than 20 Israeli companies this year. Caterpillar is the first major US firm to be blacklisted under its ongoing review of investments linked to rights abuses.
Short link: