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China Southern

600029

1

exclusion reason

1 theme

Environmental Harm (1)
600029 Current as of March 2026

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.

Emissions & Air Quality
Since Mar 12, 2026

China Southern Airlines is one of China's largest state-owned airlines, operating a fleet of over 650 aircraft. The airline's core business is inherently carbon-intensive, deriving its revenue from fossil-fueled air travel. Its emissions profile is significant relative to its sector peers. According to the Transition Pathway Initiative (TPI) Carbon Performance assessment, China Southern's current emissions trajectory is not aligned with the Paris Agreement's goal of limiting global warming to well below 2°C. The TPI evaluation, which benchmarks companies against sector-specific decarbonization pathways, indicates the company's projected future emissions are not on a path consistent with necessary climate goals. While the global aviation industry faces systemic challenges in reducing emissions, China Southern has not demonstrated leadership in adopting or scaling the available mitigation technologies—such as sustainable aviation fuels or fleet modernization—at a pace that would alter this assessment. The company's emissions governance and public climate strategy lack the specificity and ambition required to manage its outsized carbon footprint effectively.

Research Sources 1 organization
Climate Transition Pathway
External

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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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