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Investing.com -- Dutch pension fund ABP has sold its entire stake in Caterpillar Inc (NYSE:CAT), the heavy-equipment manufacturer that supplies bulldozers used by Israel to demolish buildings in Palestinian territory, according to state broadcaster NOS.
The pension fund divested its €387 million position in Caterpillar , NOS reported on Wednesday.
The divestment follows ABP’s implementation of a new sustainability policy last year that emphasizes "socially responsible" investments.
The United Nations had previously warned Caterpillar that the company could be guilty of human rights violations if it continued deliveries to Israel, according to the report.
Caterpillar equipment has been controversial due to its use in demolition operations in Palestinian territories.
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