Norway’s Largest Pension Fund to No Longer Invest In 16 Companies with West Bank Links

By Staff, Agencies

Norway’s largest pension fund KLP said on Monday it would no longer invest in 16 companies including Alstom and Motorola because of their links to ‘Israeli’ occupation settlements in the West Bank.

Norway considers the settlements a breach of international law.

The companies, which span telecoms, banking, energy and construction, all help facilitate the Zionist presence and therefore risk being complicit in breaches of international law, and against KLP’s ethical guidelines, it said in a statement.

“In KLP’s assessment, there is an unacceptable risk that the excluded companies are contributing to the abuse of human rights in situations of war and conflict through their links with the ‘Israeli’ settlements in the occupied [sic] West Bank,” KLP said.

KLP's move follows a decision by Norway’s sovereign wealth fund in May to exclude two companies linked to construction and real estate in the Palestinian territories.

A 2020 United Nations report said it had found 112 companies that have operations linked to the region, occupied by around 650,000 ‘Israeli’ settlers.