In July 2021, Norway’s largest pension fund KLP announced it has decided to exclude 16 companies from its portfolio given their connections to Israeli settlements in the West Bank.

According to KLP statement, the companies blacklisted operate in key sectors like banking, building construction and engineering services and telecommunications. These companies include Caterpillar, Altice Europe, Bank Lemui, Bank Hapoalim, Alstom, Ashtrom, Electra, Paz Oil Company Motorola, Bezeq, Cellcom and Partner Communications.