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13 Oct 2017

Sarah Scheer Pedersen, Danwatch (Denmark)

Danish pension fund divests from four companies over complicity in the Israeli occupation

“Pension Fund blacklists four companies after Danwatch investigation”, 10 October 2017

The third largest pension fund in Denmark, Sampension, excludes four publicly traded companies from their portfolio. The blacklisting happens after [Danish research centre] Danwatch…documented that Sampension…invested the largest sum of money in companies doing business in or around the illegal Israeli settlements. The Danwatch-investigation has lead the pension fund to revise its investment guidelines…“The result of our review is that two Israeli banks, Hapoalim and Leumi, as well as Heidelberg Cement and Bezeq, [have] been placed on our list of excluded companies due to the financing of settlements, and the extraction of natural resources and establishment of infrastructure for telecommunication on occupied territory”, the [pension fund stated in a] press release…Sampension…[is] also initiating a dialogue with an additional six companies about their possible business activities in the settlements…

Part of the following timelines

Israeli banks involved in financing illegal settlements in Palestine, Who Profits' report

Danish PFA Pension excludes HeidelbergCement from its investment universe citing "violation of basic human rights" & "illegal activities" in occupied West Bank

OPT: Rights groups accuse HeidelbergCement of IHL violations; HeidelbergCement response scrutinized