US/World News

Norwegian insurance giant divests from two Israeli firms

(JNS.org) The Norwegian insurance giant KLP has excluded two construction firms from their investment portfolio over their ownership of Israeli companies operating in Judea and Samaria. “KLP is excluding Heidelberg Cement and Cemex on the grounds of their exploitation of natural resources in occupied territory on the West Bank,” the company announced Thursday, June 11, Haaretz reported. “In KLP’s opinion this activity constitutes an unacceptable risk of violating fundamental ethical norms.” The two companies in question – Heidelberg Cement, a German company, and Cemex, a Mexican company – acquired the Israeli firms Hanson Quarry Products Israel and Readymix Industries Israel, who both run quarries in Judea and Samaria. Both Heidelberg and Cemex stressed that most of the workers at their Judea and Samaria quarries are Palestinian and benefit from the same working conditions as Israelis.

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