This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
ADAMA Agricultural Solutions (formerly Makhteshim Agan Industries), an Israeli chemical manufacturer specializing in pesticides owned by ChemChina, appears on the 2020 UN OHCHR database of 112 companies doing business in illegal Israeli settlements in the occupied Palestinian territory. According to the Who Profits research center, ADAMA employs regional specialists and distributors in multiple illegal Israeli settlements in the occupied West Bank and Golan Heights, and its products have been used by agricultural research and development centers in illegal settlements.
Beyond settlement activity, ADAMA's herbicide Diuron (Diurex) has been used by a contractor of the Israeli military for aerial spraying to destroy vegetation along Israel's border wall with Gaza. The Red Cross confirmed that these herbicides destroyed crops and contaminated water sources within 3,000 feet of the border; damage extended up to 1.3 miles inside the Gaza Strip. During the 2017-2018 winter spraying season alone, the herbicides affected 544 acres of agricultural lands and 2,570 acres of pasture.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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