KLP, a big investment fund in Norway (not the same as Norway’s huge sovereign wealth fund), has sold its shares in two companies — Oshkosh Corporation and ThyssenKrupp.
KLP said Oshkosh was providing trucks to the Israeli army. These trucks are then turned into armored vehicles to carry soldiers.
ThyssenKrupp, a German company, had earlier agreed to supply warships and submarines to Israel’s navy before the Gaza war started.
KLP said that companies must be careful and make sure they are not involved in human rights violations or war crimes.
Norwegian Investment Fund Drops Two Companies Over Ties to Israeli Military
The fund had $114 billion in assets during the first part of 2025. It sold its shares in Oshkosh for about $1.9 million and ThyssenKrupp for about $1 million.
KLP explained that it dropped these companies because they sold weapons to countries involved in wars, especially when the weapons may be used in ways that break international laws.
The fund pointed out that both companies had long-term relationships with the Israeli army, and they kept supplying equipment even after the Gaza war began on October 7, 2023.
In June 2024, United Nations experts warned that sending weapons and ammunition to Israel might break international laws and even be linked to serious crimes like genocide.
At the same time, Norway’s much larger sovereign wealth fund (worth about $1.9 trillion) is also under pressure to stop investing in companies accused of helping Israel continue the war in Gaza and build more settlements in the occupied West Bank.
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