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.
Doosan Bobcat (KRX: 241560) is listed in the Who Profits database for its equipment's documented use in Israeli occupation infrastructure. Bobcat S220 mini loaders were photographed carrying out earthworks on the land of the Palestinian village of Al-Walaja and participated in the construction of the Huwara, Anabta, and Deir Sharaf checkpoints in the occupied West Bank. Bobcat equipment was also used in construction of the Separation Wall near Al-Walaja. The UN OHCHR maintains a database of business enterprises involved in settlement-related activities pursuant to Human Rights Council Resolution 31/36, covering the supply of equipment facilitating construction and expansion of settlements, the wall, and associated infrastructure including checkpoints.
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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.