“We hope to see more investors join us in urging companies linked to the territory to act responsibly and helping Western Sahara get the attention it needs”, said Finish investor Ilmarinen.
Finnish investor Ilmarinen together with Folksam (Sweden) and KLP (Norway) have called on the world to join their efforts in Western Sahara. Together the three investors have carried out engagement with companies in Western Sahara over a number of years, assisted by the Swedish screening company GES Investment Services.
This is written in the latest issue of the GES Invests’s magazine. The article mentions how GES and the three Nordic investors have carried out engagement with four listed companies importing phosphates from Western Sahara: namely PotashCorp, FMC, Incitec Pivot and Wesfarmers.
”Although Western Sahara has not attracted much media attention as some other conflict areas, this does not mean that it is not of importance to investors. The latest UN reports strengthen the case for investors to engage with companies operating in this area to improve the situation”, said Anna Hyrske, head of responsible investments at the Finnish investor Ilmarinen.
WSRW has previously written how a number of European investors have blacklisted companies operating in occupied Western Sahara.
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.
The WSRW report ‘Label and Liability’ documents how produce from the controversial agro-industry in the occupied territory, ends up in the baskets of unaware EU customers.
