KLP, the Norwegian local government pension scheme, no longer wants to include one of the world’s largest fertilizer companies in its investment portfolio.
KLP made the announcement today.
KLP explains its exclusion with the fact that that the "purchase of phosphates from Western Sahara via a long-term contract with the state-owned Moroccan company Office Chérifien des Phosphates (OCP), is deemed to represent an unacceptable risk of contributing to violations of basic ethical norms, and therefore contravenes KLP’s guidelines for responsible investment. This assessment is in keeping with KLP’s previous practice."
Download the entire analysis by KLP regarding Agrium here.
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