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Article

21 Dec 2011

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Council on Ethics: The Government Pension Fund Global [Norway]

Recommendation for exclusion of Shikun & Binui Ltd. from the [Norwegian] Government Pension Fund Global (GPFG)

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The Israeli company Shikun & Binui…is involved in building Israeli settlements in East Jerusalem and has also previously been involved in building settlements in the occupied territories on the West Bank and in East Jerusalem…The Council considers that the investment made by the Government Pension Fund Global (GPFG) in the company is contrary to the Fund’s Ethical Guidelines because the company’s activities entail an unacceptable risk that it will contribute to serious violations of the rights of individuals in situations of war or conflict. The Council therefore recommends the exclusion of Shikun & Binui Ltd. from the investment universe of the GPFG.

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