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Company Response

22 Dec 2015


HeidelbergCement response

PFA has not informed HeidelbergCement about the decision to exclude the shares from its portfolios and no detailed information has been provided that would give a thorough explanation for this step. Furthermore, PFA has not been in contact with HeidelbergCement and did not enter into an engagement dialogue in the past months. HeidelbergCement is concerned that the decision of PFA did not take into account all relevant information about the specific situation and the company has already contacted PFA to clarify the situation. From HeidelbergCement’s perspective, the quarrying activity of Hanson Israel in the West Bank is compatible with international humanitarian law as it produces substantial advantages for the local Palestinian population...HeidelbergCement is convinced that investors who are acting in a responsible way and are taking into account the specific situation at the Nahal Raba quarry will come to the conclusion that the operations are compatible with international humanitarian law and that a divestment decision is not justified as it would lead to a deterioration of the economic and humanitarian situation of the Palestinian population in the West Bank...

Part of the following timelines

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

Dänischer Fond PFA Pension schliesst HeidelbergCement aus Portfolio aus & zitiert "Verstoß gegen grundlegende Menschenrechte" & "illegale Aktivitäten" in der West Bank