Norway's Largest Pension Fund Blacklists Companies Selling Equipment To Israeli Military

The Norway’s largest pension fund, KLP, had blacklisted the companies selling equipment to the Israeli military. The two companies that KLP had ended business with are the Oshkosh Corporation, a United States company mostly focused on trucks and military vehicles, and ThyssenKrupp, a German industrial firm that makes a broad selection of products, ranging from elevators and industrial machinery to warships.

Kiran Aziz, the head of responsible investments at KLP Kapitalforvaltning, while speaking to Al Jazeera, said that they have learned from UN reports that several named companies were supplying weapons or equipment to the Israeli army and these weapons are being used in Gaza.

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According to the pension fund, it had investments worth $1.8m in Oshkosh and almost $1m in ThyssenKrupp until June 2025.

The KLP, which was founded in 1949 and is the country’s largest pension fund, oversees a fund worth about $114bn. According to its website, it is a public pension fund owned by municipalities and businesses in the public sector, and has a pension scheme that covers about 900,000 people, mostly municipal workers.

The company had also stated that they have been in touch with both companies before it made its decision and that Oshkosh “confirmed that it has sold, and continues to sell, equipment that is used by the [Israeli army] in Gaza”, mostly vehicles and parts for vehicles.

ThyssenKrupp, the German industrial firm, had said that they have a long-term relationship with the Israeli army and that it had delivered four warships of the Sa’ar 6 to the Israeli Navy during the period November 2020 to May 2021. Similarly, the German company too had also planned to deliver a submarine to the Israeli Navy later this year.

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And this had not been the first time the pension fund had divested from companies linked to possible human rights abuses. In 2021 alone, they had divested from 16 companies that included telecom giant Motorola. The same year, they had also divested from the Indian ports and logistics group Adani Ports due to its link to the Myanmar military government