Alameda County's decision to divest $32 million from Caterpillar reflects growing concerns over the company's role in Israel's military actions and settlement building in Palestinian areas.
Treasurer Henry C. Levy stated, 'Caterpillar's investments would become a distraction to creating a new ethical investment policy because of concerns around the company's reputation.'
This divestment marks Alameda County as the largest regional government in the U.S. to withdraw funds based on ethical considerations regarding Israel's occupation of Palestinian territories.
Activists view divestment as a strategy to halt financial support for oppressive regimes, reminiscent of actions taken against apartheid in South Africa.
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