Shikun & Binui excluded from Norwegian Govt. Pension Fund's "investment universe" over involvement in building settlements in occupied territories

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Company response
27 June 2012

Response by Shikun & Binui: Shikun & Binui excluded from Norwegian Govt. Pension Fund's "investment universe" over alleged settlement building in Occupied Territories.

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Article
25 June 2012

[DOC] Shikun & Binui responds

Author: Shikun & Binui

Shikun & Binui...is an Israeli public company that operates according to all applicable laws. Without expressing or relating to any political views, we would like to note that: Solel Boneh has not owned a ready mixed concrete plant near Kiryat S'efer for more than 5 years. Additionally, the project that is mentioned in the recommendation, 'Ramat Rachel Dreams', is, based on our understanding, an area that is not a "settlement in East Jerusalem". Shikun & Binui has not received any questions from the Council of Ethics, nor did we receive a draft of the recommendation letter. Had we received questions or a draft of the recommendation we would have commented.”

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Article
15 June 2012

Exclusion of a company from the Government Pension Fund

Author: Norwegian Ministry of Finance

The Ministry of Finance has excluded…Shikun & Binui...from the investment universe of the Government Pension Fund Global (GPFG). The decision…follows a…reccommendation from the Council on Ethics to the GPFG. The company is a construction company involved in the building of settlements in breach of international humanitarian law in East-Jerusalem…

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Article
21 December 2011

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

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

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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