Pension fund ABP HAS Sold Its Shares in the American Machinery Manufacturer Caterpillar, A Spokesperson Confirms Following Reports by Various Media Outlets. The Company’s Excavators and Bulldozers Are Allegedly Being Used by the Israeli Army for Demolition Work in the Palestinian Territories.
At the End of March, The Largest Dutch Pension Fund Still had a Stake of Approximately 387 Million Euros in Caterpillar. However, The Company No Longer Appears on The List of Shareholdings As of the End of June. The Spokesperson refers to ABP’s Policy Regarding Investments in Conflict Areas but does not comment on the specific Decision Regarding Caterpillar.
“The way we invest should ensure good returns and be socially response at the same time. If companies do not meet our criteria, we will enter into discussions,” The Spokesperson says. If that discussion does not lead to changes, the fund will no Longer Invest in the Companies Concerned.
ABP is not the only major investor to have withdrawn from caterpillar. In August, it was announced that the large norwegian sovereign wealth fund also no longer holds shares in the company.
According to the Norwegians, Caterpillar Contributes to Human Rights Violations Becoause Their Machines Are Allegedly Used By The Israeli Authorities for the “Extensive and Illegal Destruction” or Palestinian Property. The Company is also said to have tasks no measures to prevent this.