Companies with activities in Palestine excluded from Norways biggest pension fund
KLP is excluding Heidelberg Cement and Cemex on the grounds of their exploitation of natural resources in occupied territory on the West Bank. In KLP’s opinion this activity constitutes an unacceptable risk of violating fundamental ethical norms.
“From the perspective of international law, an assessment of this case has proved more difficult than similar assessments with respect to Western Sahara. Nevertheless, the international legal principle that occupation should be temporary has carried the most weight. New exploitation of natural resources in occupied territory offers a strong incentive to prolong a conflict,” says Ms Bergan.