The Ministry of Finance has excluded...FMC Corporation and...Potash Corporation of Saskatchewan (Potash) from the GPFG investment universe. The companies’ conduct represents particularly serious violations of fundamental ethical norms, as defined by the Ethical Guidelines. The breaches result from the companies’ purchases of phosphate from Western Sahara...Potash and FMC purchase phosphate from the Moroccan company Office Cherifien des Phosphates (OCP). OCP extracts phosphate in Western Sahara, a territory which is not self-governed and which has no recognised administrator...The Council on Ethics takes the view that the interests of the local population are not served by OCP’s operations, and that it is this unacceptable situation which constitutes the core of the breach of ethical standards in the present case. [Business & Human Rights Resource Centre invited FMC, PotashCorp & OCP to respond. FMC & PotashCorp's responses are available below. OCP did not respond]