COPENHAGEN: The Danish pension Fund Pensam has dropped recently its investments from companies illegally present in the occupied parts of Western Sahara; the Australian Incitec Pivot Company fertilizer manufacturer that illegally imports phosphate from the last colony in Africa and the Swiss Company Glencore, which is key player in Morocco’s oil exploration in Western Sahara and operates hence against international law.
The Danish Pension Fund Pensam has also blacklisted in its website the two Companies Incitec Pivot and Glencore. Wave of divestments over Western Sahara in Denmark
In Denmark, large debates followed the publication of the report Investments in occupied country published by the Danish NGO Afrika Kontakt, on 3 March 2016.
Danske Bank, a Scandinavian bank based in Copenhagen, excluded Office Chérifien des phosphates (OCP) on 3 June 2016, citing its involvement “in importation of natural resources sourced in conflict with human rights norms”. Danske Bank had previously kicked out Canadian company PotashCorp, Australia’s Incitec Pivot and US firm Innophos Holding for that very same reason. All three those companies import phosphate from occupied Western Sahara through deals with OCP, for their production of fertilizers.
Danish pension fund Pensionskassen PFA has for some time been excluding Incitec Pivot from its portfolios over human rights concerns.
Danish investor Sydbank has according to Afrika Kontakt excluded four companies from its investment universe due to their presence in Western Sahara: Innophos Holdings, Glencore PLC, PetroMaroc and San Leon Energy. The latter three companies are all in cahoots with the Moroccan government to search for oil in occupied Western Sahara., in violation of international law has imported phosphate from occupied Western Sahara.
