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Bunge Limited

BG

Consumer Staples

4

exclusion reasons

2 themes

Environmental Harm (3) Indigenous Rights (1)
BG Consumer Staples Current as of April 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.

Indigenous Rights
Since Mar 14, 2026

As of 2023, Bunge was maintaining commercial relationships with farmers who had been directly fined by IBAMA (Brazil's environmental police) for illegally cultivating soy inside the protected Pareci, Utiariti, and Rio Formoso Indigenous lands.

Water Resources
Since Mar 14, 2026

Bunge North America discharged approximately 20,000 gallons of mixed soybean oil and water into the Ohio River from its Cairo, Illinois facility on or about February 2, 2022, in violation of Section 311(b)(3) of the Clean Water Act. The EPA proposed a Consent Agreement and Final Order requiring Bunge to pay a $91,418 civil penalty to the Oil Spill Liability Trust Fund.

This follows a larger pattern of environmental violations at Bunge's processing facilities. In October 2006, the Department of Justice and EPA reached a $13.9 million Clean Air Act settlement with Bunge covering 12 soybean and corn processing plants across eight states — Alabama, Mississippi, Louisiana, Kansas, Iowa, Ohio, Indiana, and Illinois. The U.S. alleged that Bunge constructed major modifications at some or all of these plants that increased emissions without obtaining pre-construction permits. The settlement required pollution control projects estimated at $12 million to eliminate more than 2,200 tons of harmful emissions annually, including 1,122 tons per year of volatile organic compounds (including hexane, a listed hazardous air pollutant), plus reductions in SO2, NOx, and particulate matter.

Climate Intransigence
Since Mar 12, 2026

Bunge Limited has set science-based targets validated by the SBTi, but its climate policy engagement remains limited and its targets exclude material scope categories. The company’s validated targets cover Scope 1 and 2 emissions and a portion of Scope 3, but they notably omit emissions from land-use change linked to its agricultural supply chains, a dominant source of its climate impact. In 2022, shareholders urged a vote against the board, citing failure to set an adequate net-zero target and to realign capital expenditures with climate goals. While Bunge discloses some policy engagement, its overall stance is assessed as having limited ambition on policies related to land use and deforestation. This combination of an incomplete emissions target and insufficient policy advocacy places the company behind peers in aligning its operations with a low-carbon transition.

Environmental Damage
Since Oct 14, 2021

Joao Gonçalves, the senior director for Mighty Earth in Brazil, said Bunge, Cargill and JBS are the “worst culprits for driving deforestation” in the country. Trase data suggests the company is directly tied to the conversion of 77,000 hectares of rainforest into farmland in order to cultivate soy.

Research Sources 2 organizations
Climate Transition Pathway
External
Cruelty Free Investors
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.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.