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.
The company operates in Israeli settlements in the Occupied Palestinian Territories, including East Jerusalem and the occupied Syrian Golan. These settlements are considered illegal under international law, as affirmed by United Nations Security Council resolutions and the International Court of Justice. The UN Secretary-General's report of September 2024 notes that such activities contribute to the consolidation of an occupation deemed unlawful by the international community. By maintaining a physical or operational presence in these territories, the company is materially supporting activities that perpetuate the occupation and its associated violations.
Research Sources
1 organization
Related Exclusions
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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.