March 21, 2021 – 2:20 p.m. – Economy
Algeria and the Polisario lost a lawsuit over imports of phosphate into the Sahara against the New Zealand pension fund. The New Zealand Supreme Court sacked the separatists following a complaint filed against the fund in March 2020.
An unsuccessful trial. In the lawsuit brought by Kamal Fadel, the representative of separatists in Australia and New Zealand, the Polisario accused the New Zealand Superannuation Fund (NZSF), a New Zealand government savings fund created to support old age pensions . invest in imports of phosphates which have been illegally mined and imported “from the Sahara.
In the New Zealand Supreme Court decision of March 15, Justice Mark Woolford said “the fund has not breached its legal obligations regarding the use of superphosphate on its farms.” He concluded that the investments “comply with the New Zealand Superannuation and Retirement Income Act 2001” in its decisions to invest in phosphate-related assets from the Sahara. “Court rejects judicial review of New Zealand imports of phosphate from the Sahara,” says the ruling.
The New Zealand pension fund says it is satisfied with the decision. “We take our obligations as a responsible investor very seriously. (…) In all investment matters, we duly apply our Code to comply with our legal obligations to manage the fund in a way that does not damage New’s reputation. responsible member of the global community, ”the spokesperson said.
This decision is a hard blow for Algeria and the Polisario and a consolation for Morocco, whose sovereignty over the Sahara was recognized by the United States on December 10, 2020.