Investor blacklisted Agrium for imports from occupied Western Sahara
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The Norwegian investor KLP has sold all its shares in Agrium for its imports of phosphate rock from occupied territory.
Published: 01.12 - 2014 12:39Printer version    
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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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.
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