RAMALLAH, Monday, July 05, 2021 (WAFA) – Norway's largest pension fund announced on Monday it had divested assets in 16 companies for their links to colonial 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 colonial settlements, considered illegal under international law.
"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.