Norway’s largest pension fund divests from HeidelbergCement and Cemex

KLP and the KLP Funds have decided to exclude the companies HeidelbergCement AG and Cemex SAB de SV from their investment portfolios with effect from 1 June 2015. KLP excludes future investments in both companies because of their exploitation of natural resources in the occupied Palestinian West Bank. KLP believes that these activities constitute an unacceptable risk for violations of fundamental ethical norms. “New extraction of natural resources in occupied territory provides a strong incentive to prolong a conflict,” says Jeanett Bergan, Head of Responsible Investments KLP Asset Management.

Article 1 Collective congratulates KLP with this excellent decision and hopes that other investors follow suit, so that they also stop profiting from the occupation of Palestine.

Read KLP’s explanation here.