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.
COSCO Shipping Energy, a subsidiary of the state-owned China COSCO Shipping Corporation, operates one of the world's largest fleets of oil tankers and liquefied natural gas carriers. The company's core business is the maritime transportation of crude oil, refined petroleum products, and LNG, inherently involving the high-risk movement of hazardous materials across global waterways.
The company's operations are directly linked to significant environmental incidents. In 2018, a COSCO Shipping Energy-operated VLCC (very large crude carrier) was involved in a collision that caused a major oil spill off the coast of China. Furthermore, the company's vessels have been repeatedly cited for operational pollution violations, including illegal discharges of oily waste and sewage, documented in port state control records. These patterns of negligence contribute to documented ecological harm, including marine pollution and habitat destruction.
While the parent group has announced environmental targets, COSCO Shipping Energy's primary business model remains centered on fossil fuel logistics, an activity with a high inherent risk of environmental damage from spills and operational discharges. The scale of its fleet amplifies this risk across global shipping routes.
Research Sources
1 organization
Related Exclusions
Wondering what we do invest in?
The Naughty List
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.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.