Norwegian pension fund sells off assets linked to Israeli settlements

Motorola is on a UN list of 112 companies with activities linked to Israeli settlements Josep LAGO AFP
Motorola is on a UN list of 112 companies with activities linked to Israeli settlements  Josep LAGO AFP

Oslo (AFP)

Norway’s largest pension fund announced Monday it had divested assets in 16 companies for their links to Israeli settlements in the West Bank, including telecom equipment giant Motorola.

“Motorola and other companies risk complicity in international law violations in occupied Palestine,” KLP, which manages some 95 billion dollars (80 billion euros) worth of assets, said in a statement.

The divestment follows the February 2020 UN publication of a list of 112 companies with activities linked to Israeli settlements, considered illegal under international law.

Israel’s government has denounced the publication of the list — which included companies like Airbnb, Expedia, Motorola and Tripadvisor — as a “contemptible effort”. 

“Divesting from Motorola Solutions was a very straightforward decision over its surveillance role in the occupied territories,” KLP said, arguing the company provide software used in border surveillance. 

KLP also divested telecom operators offering services within the West Bank as they contributed to making “the settlements attractive residential areas.”

These included Altice Europe, Bezeq, Cellcom Israel and Partner Communications.

Also included are five banks that facilitated or financed the construction of housing and infrastructure in occupied territories, as well as engineering and construction groups, including the French multinational Alstom.

In late June, KLP announced its divestment of the Indian port and logistics group Adani Ports because of its links to the Burmese military junta.

Another Norwegian fund, the sovereign wealth fund, which is the largest in the world, has also excluded several companies in the past because of their connections to Israeli settlements. 

The occupation of Palestinian territories is considered illegal by the United Nations. 

More than 600,000 Israeli settlers live in the West Bank and East Jerusalem, where tensions often flare up between settlers and the Palestinian population.

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Below is a list of all the companies named by the UN:

Business enterprises involved in listed activities
Business enterpriseState concerned
1Afikim Public Transportation Ltd.Israel
2Airbnb Inc.United States
3American Israeli Gas Corporation Ltd.Israel
4Amir Marketing and Investments in Agriculture Ltd.Israel
5Amos Hadar Properties and Investments Ltd.Israel
6Angel BakeriesIsrael
7Archivists Ltd.Israel
8Ariel Properties GroupIsrael
9Ashtrom Industries Ltd.Israel
10Ashtrom Properties Ltd.Israel
11Avgol Industries 1953 Ltd.Israel
12Bank Hapoalim B.M.Israel
13Bank Leumi Le-Israel B.M.Israel
14Bank of Jerusalem Ltd.Israel
15Beit Haarchiv Ltd.Israel
16Bezeq, the Israel TelecommunicationCorpIsrael B.V.Netherlands
18C Mer Industries Ltd.Israel
19Café Café Israel Ltd.Israel
20Caliber 3Israel
21Cellcom Israel Ltd.Israel
22Cherriessa Ltd.Israel
23Chish Nofei Israel Ltd.Israel
24Citadis Israel Ltd.Israel
25Comasco Ltd.Israel
26Darban Investments Ltd.Israel
27Delek Group Ltd.Israel
28Delta IsraelIsrael
29Dor Alon Energy in Israel 1988 Ltd.Israel
30Egis RailFrance
31Egged, Israel Transportation Cooperative Society Ltd.Israel
32Energix Renewable Energies Ltd.Israel
33EPR Systems Ltd.Israel
34Extal Ltd.Israel
35Expedia Group Inc.United States
36Field Produce Ltd.Israel
37Field Produce Marketing Ltd.Israel
38First International Bank of Israel Ltd.Israel
39Galshan Shvakim Ltd.Israel
40General Mills Israel Ltd.Israel
41Hadiklaim Israel Date Growers Cooperative Ltd.Israel
42Hot Mobile Ltd.Israel
43Hot Telecommunications Systems Ltd.Israel
44Industrial Buildings Corporation Ltd.Israel
45Israel Discount Bank Ltd.Israel
46Israel Railways Corporation Ltd.Israel
47Italek Ltd.Israel
48JC Bamford Excavators Ltd.United Kingdom
49Jerusalem Economy Ltd.Israel
50Kavim Public Transportation Ltd.Israel
51Lipski Installation and Sanitation Ltd.Israel
52Matrix IT Ltd.Israel
53Mayer Davidov Garages Ltd.Israel
54Mekorot Water Company Ltd.Israel
55Mercantile Discount Bank Ltd.Israel
56Merkavim Transportation Technologies Ltd.Israel
57Mizrahi Tefahot Bank Ltd.Israel
58Modi’in Ezrachi Group Ltd.Israel
59Mordechai Aviv Taasiot Beniyah 1973 Ltd.Israel
60Motorola Solutions Israel Ltd.Israel
61Municipal Bank Ltd.Israel
62Naaman Group Ltd.Israel
63Nof Yam Security Ltd.Israel
64Ofertex Industries 1997 Ltd.Israel
65Opodo Ltd.United Kingdom
66Bank Otsar Ha-Hayal Ltd.       Israel
67Partner Communications Company Ltd.Israel
68Paz Oil Company Ltd.Israel
69Pelegas Ltd.Israel
70Pelephone Communications Ltd.Israel
71Proffimat S.R. Ltd.Israel
72Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.Israel
73Rami Levy Hashikma Marketing Communication Ltd.Israel
74Re/Max IsraelIsrael
75Shalgal Food Ltd.Israel
76Shapir Engineering and Industry Ltd.Israel
77Shufersal Ltd.Israel
78Sonol Israel Ltd.Israel
79Superbus Ltd.Israel
80Supergum Industries 1969 Ltd.Israel
81Tahal Group International B.V.Netherlands
82TripAdvisor Inc.United States
83Twitoplast Ltd.Israel
84Unikowsky Maoz Ltd.Israel
86Zakai Agricultural Know-how and inputs Ltd.Israel
87ZF Development and ConstructionIsrael
88ZMH Hammermand Ltd.Israel
89Zorganika Ltd.Israel
90Zriha Hlavin Industries Ltd.Israel
Business enterprises involved as parent companies
91Alon Blue Square Israel Ltd.Israel
92Alstom S.A.France
93Altice Europe N.V.Netherlands
94Amnon Mesilot Ltd.Israel
95Ashtrom Group Ltd.Israel
96Booking Holdings Inc.United States
97Brand Industries Ltd.Israel
98Delta Galil Industries Ltd.Israel
99eDreams ODIGEO S.A.Luxembourg
100Egis S.A.France
101Electra Ltd.Israel
102Export Investment Company Ltd.Israel
103General Mills Inc.United States
104Hadar GroupIsrael
105Hamat Group Ltd.Israel
106Indorama Ventures P.C.L.Thailand
107Kardan N.V.Netherlands
108Mayer’s Cars and Trucks Co. Ltd.Israel
109Motorola Solutions Inc.United States
110Natoon GroupIsrael
111Villar International Ltd.Israel
Business enterprises involved as licensors or franchisors
112Greenkote P.L.C.

© 2021 AFP/ France 24