Norway Pension Fund Blacklists Firms Supplying Israeli Military
Bloomberg1 day
Norway's KLP Pension Fund Divests from Oshkosh and ThyssenKrupp
Above: A press conference for Thyssenkrupp Marine Systems (TKMS) on June 4, 2025 in Kiel, Germany. Image copyright: Frank Molter/picture alliance/Getty Images
The Spin
Narrative A
These companies are profiting from weapons that fuel serious violations of international law in Gaza. The UN has clearly warned that arms transfers to Israel risk complicity in potential genocide and war crimes. KLP made the right call excluding firms that cannot prove they are preventing their equipment from being used in systematic breaches of humanitarian law.
Narrative B
Private investment in defense, if managed responsibly, is a moral imperative that equips nation-states with the means to defend their interests and sovereignty, as seen in the example of Ukraine. Disinvesting from the industry only weakens the defensive capabilities that protect democracies, as well as human rights and freedoms, from external threats.