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.
Anhui Conch Cement, one of the world's largest cement producers, has established top-line support for China’s 2060 carbon neutrality target and the Paris Agreement. However, its engagement with specific, actionable climate policy remains limited. The company has disclosed support for expanding China’s carbon market to include the cement industry but has not demonstrated advocacy for the increased policy ambition required to align its sector with a 1.5°C pathway.
In its public communications, including its 2024 ESG report, the company discusses engagement with decarbonization standards without referencing a need for more stringent government policy. While the CEO has expressed support for decarbonizing cement production and the company has submitted policy proposals calling for support for alternative energy, these positions are framed within the existing policy framework. InfluenceMap’s July 2025 assessment notes the company exhibits "limited engagement" with other types of climate policy and does not disclose a review of its industry association memberships' climate policy engagement, a transparency benchmark for robust climate governance.
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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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