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 Transition Pathway Initiative rates Air Canada's emissions trajectory as aligned only to international pledges, falling below the Paris 1.5C pathway for the airline sector. InfluenceMap's assessment finds mixed climate policy engagement: Air Canada's 2023 Annual Information Form appeared unsupportive of policies imposing costs on aviation such as charges and taxes, contradicting its stated support for net-zero aviation by 2050. Air Canada is an associate member of Airlines for America and its CEO sits on the board of the International Air Transport Association, both of which are actively and negatively engaged on climate policy. The company has not published an audit of its alignment with these industry associations.
Research Sources
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Related Exclusions
Wondering what we do invest in?
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.