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.
Aselsan Elektronik Sanayi is a Turkish defense electronics company that manufactures purpose-built military equipment, including electronic warfare systems, radar, and tactical communications. According to SIPRI, it is a major defense contractor. The company's core business is the development and sale of specialized products for military applications.
This exclusion record is based on the company's classification as a defense contractor. A specific narrative detailing revenue percentages, major product lines, and customer relationships cannot be provided at this time due to an evidence gap. Further research is required to confirm the materiality of its military contracting activities against the stated exclusion thresholds.
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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.
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