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.
Suzuki Motor Corporation manufactures internal combustion engine vehicles as its core business. In fiscal year 2024, the company sold approximately 3.1 million vehicles globally, predominantly gasoline-powered cars and motorcycles. The manufacturing, distribution, and use of these products are directly linked to documented environmental impacts, including resource extraction, chemical use, and end-of-life waste.
The company's own sustainability reporting details its environmental management efforts, including targets for reducing CO2 emissions, water consumption, and waste. However, the fundamental business model of producing millions of new internal combustion engines annually contributes to ongoing ecological pressures. While Suzuki reports on chemical substance management and biodiversity considerations at its plants, the lifecycle environmental footprint of its primary products places it within an industry associated with significant documented environmental impacts.
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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.