Norway’s largest pension fund, KLP, announced that it will no longer invest in 16 companies, including Alstom and Motorola, due to its links to Israeli settlements in the West Bank.
In a press release, the company said that the companies, from sectors including telecommunications, banking, energy and construction, all help facilitate the Israeli presence and are therefore vulnerable to complicity in violations of international law, and against KLP’s moral principles.
– Kingdom Channel (@AlMamlakaTV) July 5, 2021
“In KLP’s assessment, there is an unacceptable risk that the excluded companies are contributing to human rights abuse through their links to Israeli settlements in the occupied West Bank,” he added.
KLP’s move follows a decision by Norway’s sovereign wealth fund in May to exclude two companies linked to construction and real estate in the Palestinian territories.
KLP said it sold 275 million Norwegian crowns ($31.81 million) of shares in the companies and completed the transaction in June.
Communication companies involved with Tel Aviv
As for Motorola and Alstom, they also sold his holdings of bonds and selling Motorola Solutions was a “very straightforward decision,” using its security imaging products and border control software.
KLP also said that telecom companies such as Bezeq and Israel’s Cellcom were excluded because their services help make settlements more attractive residential areas, while banks such as Leumi helped fund infrastructure.
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It is noteworthy that Norway, like a number of other countries, considers the settlements a violation of international law.
A 2020 United Nations report said it found 112 companies with activities linked to the region, which is home to about 650,000 Israelis.
Other excluded companies are Bank Hapoalim, Discount Bank of Israel, Mizrahi-Tefahot Bank, Delek Group, Energix Renewable Energy, First International Bank of Israel and Partner Communications.
It also excluded the telecom company Altice, which was listed until January 2021.
In a related context, the economic boycott waged by the Palestinians inside the occupied territories in 1948, for the commercial interests of the settlers, began to show its results on the occupation society, which is complaining about the decline in the economic situation, as a result of the expansion and continuation of the boycott.
In a report on the Hebrew Channel 12, from the occupied Beersheba market, settlers complain of stagnation and the heavy losses inflicted on their shops, as a result of the economic boycott announced by the Palestinians.
According to the channel, the market in Beersheba was “evidence of coexistence in the Negev,” as he described it. He says that after the last war, the market became empty of Arabs.
The cities and towns of the occupied Palestinian interior witnessed a popular uprising that spread to sites that intervened in the confrontation for the first time since the Nakba.
According to the channel, this raised widespread fears in the occupying country, and Israeli analysts considered that the idea of “coexistence” and “familyization” had received a severe blow at this stage.
The settlement says, “If the Arabs do not come here, I expect the market to close.” She adds in an angry voice: “I have a shop and I have a store full of goods. If the Arabs do not come to whom will we sell? For the Jews who come only to ask about prices?”
The channel indicated that the Palestinian residents of the Negev no longer go to the market, after the recent violent confrontations in the area, coinciding with the battle in Jerusalem and Gaza.
Activists and national activists inside the occupied country launched calls to boycott the settlers’ shops and the occupation’s merchandise, and direct efforts to support Palestinian commercial and economic interests, and pay attention to strengthening the local economy.
This was evident in the “National Economy Week,” which witnessed wide interaction in various regions inside and in the West Bank, during which popular markets were organized in cities and towns.
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