Norway blacklists US/Canadian fertilizer firms over Sahara imports
fortune_lady_610.jpg

The Norwegian government today announced it has sold 256 million Euros of shares in the two US-Canadian firms PCS and FMC due to their imports from Western Sahara.
Published: 06.12 - 2011 13:21Printer version    
Today, the Norwegian government announced its exclusion of two leading fertilizer importers from their portfolios, due to ethical concerns relating to their imports from occupied Western Sahara. The fund thus follows the row of European investors kicking out fertiliser firms over the unethical trade. As of 31.12.2010, the government had invested 256 million Euros in the two companies.

The fund's Council on Ethics concluded that the 2 companies' imports "represents particularly serious violations of fundamental ethical norms, as defined by the Ethical Guidelines." Download the 18 page explanation from the Norwegian government pension fund here (pdf), published today, and see press release from the Government below.

Western Sahara Resource Watch has for many years been trying to get answers from the firms involved in the trade, including the ones now excluded from the government's portfolio.  The organisation has also tried to get answers from the US law firm Covington & Burling that lobbies internationally to defend the illegal trade. The law firm claims that Saharawis are benefiting, but refuse to explain to requests from Saharawis as to how they supposedly benefit.

Potash Corp has failed to reply to questions sent byWestern Sahara Resource Watch, and not corrected a statement on its website where they in practice argue for the occupation of the territory. This summer, Saharawis were hunger striking against PCS' plunder of Western Sahara.

The press release below was issued by the Norwegian Ministry of Finances, 06.12.2011.

Government Pension Fund Global: Two companies excluded from the Fundís investment universe

Read the press release from the Norwegian government.

The Ministry of Finance has excluded the US company FMC Corporation and the Canadian company Potash Corporation of Saskatchewan (Potash) from the GPFG investment universe. The companiesí conduct represents particularly serious violations of fundamental ethical norms, as defined by the Ethical Guidelines. The breaches result from the companiesí purchases of phosphate from Western Sahara.

In its letter of 15 November 2010 to the Ministry of Finance, the Council on Ethics has recommended the exclusion of the aforementioned companies from the GPFG investment portfolio. The Ministry of Finance has decided to follow the recommendation from the Council on Ethics.

Problematic resource exploitation in not self-governed territories
Potash and FMC purchase phosphate from the Moroccan company Office Cherifien des Phosphates (OCP). OCP extracts phosphate in Western Sahara, a territory which is not self-governed and which has no recognised administrator. In 2002, the UNís legal adviser issued a general legal opinion on the legality of mineral resources extraction in territories which are not self-governed, which also included a specific assessment of this issue with regard to the situation in Western Sahara. The opinion stated that mineral resources extraction in territories which are not self-governed is only acceptable if it benefits the local population of the territory. The Council on Ethics takes the view that the interests of the local population are not served by OCPís operations, and that it is this unacceptable situation which constitutes the core of the breach of ethical standards in the present case.

Further, the Council on Ethics wrote that not every company which purchases phosphate from Western Sahara must also necessarily be said to be acting unethically. In its evaluation of this issue, the Council on Ethics considered various matters, including the companiesí knowledge about and specification of the source of the phosphate, the interchangeability of the phosphate, and the companiesí contractual ties with OCP. In its decision to adopt the recommendation of the Council on Ethics, the Ministry of Finance has attached particular weight to the fact that the companies know the origin of the phosphate, that they specify that they want phosphate from the particular Western Saharan mine in question, and that it appears likely that the companies will continue to purchase this particular phosphate for the foreseeable future.

Divestment and exclusion
In its letter of 30 September 2011, the Ministry of Finance instructed Norges Bank to sell its shares in the companies. The share sales have now been completed. At the end of 2010, the GPFG held shares valued at around NOK 300 million in FMC Corporation and around NOK 1 570 million in Potash.

The Ministryís final decision on whether or not to divest from a company is made on the basis of the Council's recommendation. The Ministry has not made an independent assessment of every aspect of the Councilís recommendation but is satisfied that the recommendation document establishes with adequate certainty that the criteria for exclusion, such as they are defined by the Guidelines for observation and exclusion, are met.


    

Top
News:

23.06 - 2018 / 23.06 - 2018Maersk drops transports of conflict rock from occupied Western Sahara
18.06 - 2018 / 16.06 - 2018Polisario initiates new law suit against EU-Morocco fish deal
18.06 - 2018 / 18.06 - 2018Polisario takes EU Council to Court over aviation deal with Morocco
18.06 - 2018 / 18.06 - 2018New book on the plunder of Western Sahara
14.06 - 2018 / 14.06 - 2018Commission misleads EU states on Polisario talks, documentation shows
14.06 - 2018 / 14.06 - 2018Here, the EU Commission is lying about WSRW - and 93 other groups
11.06 - 2018 / 11.06 - 2018This is how the Commission proposes to deal with Western Sahara trade
08.06 - 2018 / 08.06 - 2018Saharawis demonstrated in front of EU Commission
28.05 - 2018 / 28.05 - 2018Wave of investors blacklist Nutrien over Western Sahara controversy
24.05 - 2018 / 17.05 - 2018Exclusive: Here are the Moroccan groups that the EU consulted
22.05 - 2018 / 17.05 - 2018EU Commission closes eyes to Western Sahara judgment in Parliament
03.05 - 2018 / 03.05 - 2018Camel researchers move event from Western Sahara to Morocco
25.04 - 2018 / 24.04 - 2018New report on contentious Western Sahara phosphate trade
17.04 - 2018 / 20.03 - 2018Auction for seized Western Sahara phosphates to close
16.04 - 2018 / 16.04 - 2018Polisario will take EU Council to Court over fish deal
16.04 - 2018 / 16.04 - 2018EU will broker new fish deal with Morocco, including Western Sahara
12.04 - 2018 / 12.04 - 2018Camel conference in occupied Western Sahara dishonest about funders
10.04 - 2018 / 10.04 - 2018UN study on Morocco's green energy plans fails at geography
27.03 - 2018 / 26.02 - 2018EU risks recognising Western Sahara products as Moroccan
21.03 - 2018 / 21.03 - 2018EU Commission dead set on fishing in Western Sahara




EN ES FR DE AR

Morocco occupies the major part of its neighbouring country, Western Sahara. Entering into business deals with Moroccan companies or authorities in the occupied territories gives an impression of political legitimacy to the occupation. It also gives job opportunities to Moroccan settlers and income to the Moroccan government. Western Sahara Resource Watch demands foreign companies leave Western Sahara until a solution to the conflict is found.
EU Court cases on Western Sahara for dummies

tn_law_hammer.jpg

It's not easy keeping up with all the different legal proceedings relating to Western Sahara. For the sake of clarity, here's an overview of the three different cases at the Court of Justice of the European Union.
Stand up for the Gdeim Izik 25!

tn_court_photo_gdeim_izik_610.jpg

Leading activists from Western Sahara are condemned to sentences ranging from 20 years to life imprisonment in connection to a mass protest in 2010 denouncing the Saharawi peopleís social and economic marginalization in their occupied land; the Gdeim Izik protest camp.
Support Western Sahara Resource Watch

tn_sjovik_demo_610.jpg

Help us to protect the natural resources of Western Sahara for the Saharawi people. Support our work by making a donation.
Report: Moroccan green energy used for plunder

tn_poweringplunder_eng_610.jpg

At COP22, beware of what you read about Moroccoís renewable energy efforts. An increasing part of the projects take place in the occupied territory of Western Sahara and is used for mineral plunder, new WSRW report documents.

WSRW.org News Archive 2018
WSRW.org News Archive 2017
WSRW.org News Archive 2016
WSRW.org News Archive 2015
WSRW.org News Archive 2014
WSRW.org News Archive 2013
WSRW.org News Archive 2012
WSRW.org News Archive 2011
WSRW.org News Archive 2010
WSRW.org News Archive 2009
WSRW.org News Archive 2008
WSRW.org News Archive 2007
WSRW.org News Archive 2004-2006


Register for our English newsletter:









These web pages have been built with the financial support of the trade union Industry Energy