Evergreen Marine Corp Taiwan Ltd
2603
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exclusion reasons
2 themes
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.
Excluded by the Norwegian Government Pension Fund Global in January 2018 for selling end-of-life vessels to beaching yards in South Asia (Gadani, Pakistan and Chittagong, Bangladesh), where ship-breaking operations cause severe environmental contamination and systematic violations of ILO worker safety conventions.
Evergreen Marine Corp Taiwan Ltd is a global container shipping company whose core business of maritime transport carries inherent risks of significant environmental damage. The company has been formally excluded by Norway’s Government Pension Fund Global based on an assessment of unacceptable environmental risk.
The Council on Ethics for the Norwegian fund recommended exclusion in June 2017, citing a pattern of environmental violations and damage linked to the company's shipbreaking practices. The Council's assessment found that Evergreen sold end-of-life vessels to be broken apart on beaches in South Asia, a method that causes severe pollution from toxic materials and violates international environmental regulations. The company’s own 2011 Corporate Social Responsibility Report acknowledged a violation of environmental protection regulations in 2017.
While the company publishes environmental policies and commitments, the historical pattern of outsourcing shipbreaking to substandard facilities demonstrates a failure to control the environmental impact of its full operational lifecycle. This practice results in documented ecological damage from oil spills, toxic contamination, and habitat destruction in coastal communities.
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