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22 Jul 2015

Norwegian pension fund divests from Cemex & HeidelbergCement over concerns about their operations in the occupied West Bank

In June 2015, Norwegian pension fund KLP excluded Cemex and HeidelbergCement from its investment portfolio.  The decision was taken due to their operations in the occupied West Bank.  We invited both companies to respond which they did. See HeidelbergCement's response and Cemex's response in Spanish (unofficial English translation provided) below.

We subsequently received 2 rejoinders which argued that CEMEX had misinterpreted international law in its response in relation to the legality of Israeli settlements.  In addition the Electronic Intifada also published an article criticising the responses by CEMEX & HeidelbergCement.  All of the materials can be accessed below.

Company Responses

HeidelbergCement View Response