Norway
At the end of August 2025, the Norwegian Sovereign Fund, the largest in the world, announced it divested from 5 Israeli banks and from Caterpillar, where the fund’s major individual share was almost $2 billion (US).
As of June 2025, the Norwegian oil fund had already divested from 23 complicit Israeli companies.
Back in November 2024, the sovereign fund announced that it had divested its entire holding in Israel Bonds (approx. $500 million), signalling a strong vote of no confidence in the Israeli economy.
The fund is not off the hook, though, as is still invested in several complicit Israeli companies and remains a major shareholder of corporations, like Microsoft, RTX and Chevron, that are deeply implicated in Israel’s genocide, apartheid, and illegal military occupation.
Denmark
In September 2025, the Danish pension fund, AkademikerPension, announced the complete exclusion of Israel from its investments citing Israel’s grave human rights violations, especially in Gaza.
“Today, we announced that we are excluding the State of Israel from our investment universe. […] In concrete terms, the exclusion means that we may not invest in Israeli government bonds or in companies owned by the Israeli state.”
This is unprecedented. It is the first pension fund so far to exclude Israel as such from all investments, citing its egregious crimes against Palestinians.
The Netherlands
In October, the largest Dutch pension fund, ABP, announced it sold all shares in US machine manufacturer Caterpillar in which it had a stake worth €387 million. Since 2024, ABP has adopted a new sustainability policy meaning that investments must be “socially responsible.”
In April 2025, ABP divested from Booking Holdings, Motorola, Teva, Coca-Cola USA and several small Israeli companies.
ABP still holds corporate bonds for Booking and Caterpillar as well as investments in several complicit companies.
We salute the tireless work of civil society organisations, particularly trade unions, as well as activists and people of conscience generally whose pressure has made these wins possible.
This is an important step towards ending European complicity and financial institutions’ investments in companies that are complicit in arming and otherwise enabling Israel’s live-streamed genocide against 2.3 million Palestinians in Gaza.
But it is not enough. More pressure is needed to fully end the complicity of states and corporations in Israel’s atrocity crimes as a matter of legal obligation under international law, not discretion.
The BDS movement calls for intensifying pressure on all pension funds and financial institutions to divest from ALL Israeli and international companies that are complicit in Israel’s war crimes, crimes against humanity and genocide against Indigenous Palestinians.