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Article

1 Jun 2015

Author:
KLP

Decision to exclude from investment HeidelbergCement and Cemex

 …KLP and the KLP Funds have decided to exclude the companies HeidelbergCement and Cemex from their investment portfolios with effect from 1 June 2015.Through its subsidiaries, the companies HeidelbergCement and Cemex operate quarries in Area C of the West Bank, an area under complete Israeli civilian and military control. The companies pay licence fees and royalties to the state of Israel. It is not clear how Israel uses these funds. The products deriving from the quarries are sold primarily for use in Israel’s domestic construction market. In a letter published through the Business and Human Rights Resource Centre, Cemex confirms that its subsidiary Lime & Stone is engaged in a joint venture with Kfar Giladi Quarries, and that the latter operates the Yatir quarry…

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