KLP divested from Oshkosh Corporation and ThyssenKrupp due to their military supply ties to Israel. KLP, managing $114 billion in assets, sold $1.9 million of Oshkosh shares and $10 million of ThyssenKrupp investments. The divestment was based on criteria relating to arms sales to states implicated in serious international law breaches. KLP stated these companies maintained established relationships with the Israeli military, continuing arms deliveries during the ongoing Gaza conflict. UN experts warned that such transfers could lead to complicity in international crimes, including genocide.
KLP, managing assets worth $114 billion, sold its holdings in Oshkosh Corporation valued at 19 million kroner and its investment in ThyssenKrupp worth 10 million kroner.
Companies have a duty to exercise due diligence to avoid complicity in violations of fundamental human rights and humanitarian law, stated Kiran Aziz of KLP Asset Management.
The fund excluded Oshkosh Corporation and ThyssenKrupp based on criteria related to the sale of weapons to states in armed conflicts that abuse them.
UN experts expressed that the transfer of weapons and ammunition to Israel may constitute serious violations of human rights and international humanitarian laws.
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