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Oslo, July 5 – Norway’s largest pension fund, KLP, said on Monday it would no longer invest in 16 companies including Alstom and Motorola due to its links to Israeli settlements in the occupied West Bank. a breach of international law.
“In KLP’s assessment, there is an unacceptable risk that the excluded companies contribute to human rights abuses in war and conflict situations through their links to Israeli settlements in the occupied West Bank,” KLP said.
DIVESTMENTS: Telecom companies including Bezeq and Cellcom Israel have been removed because the services they provide help make settlements more attractive residential areas, according to KLP, while banks including Leumi have helped fund infrastructure.