Oslo, Dec 3, 2014 (SPS) - Norwegian pension fund (KPL) on Monday decided to divest from the Canadian fertilizer company “Agrium” for its import of phosphate rock from Western Sahara, said Polisario Front’s representation in Oslo.
KLP said, in a statement, that it divested from Agrium fertilizer company over its purchase of phosphates from Western Sahara via a long-term contract with the state-owned Moroccan company Office Chérifien des Phosphates (OCP), a thing described by the fund as an “unacceptable risk of contributing to violations of basic ethical norms, and therefore contravenes KLP’s guidelines for responsible investment.”
In May 2013, KLP divested its share from the international oil company Total over its exploration of oil and petroleum offshore occupied Western Sahara.
In relevant context, Norwegian Foreign Ministry has advised investors and companies in the country not to invest in Western Sahara, which remains a Non-Self-Governing Territory pending decolonization.
In a legal opinion date back to 2002, former UN legal counsel, Hans Corell, said that any exploitation of the natural resources of Western Sahara by Morocco or any other party would a violation of international law. (SPS)
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