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.
BlueScope Steel operates integrated steelmaking facilities in Australia, including the Port Kembla Steelworks in New South Wales. In 2024, the New South Wales Environment Protection Authority (EPA) issued the company two separate fines for environmental control failures at this site. In July 2024, BlueScope was fined $15,000 for allegedly failing to comply with its environmental protection licence conditions. The following month, in August 2024, the EPA issued a further $30,000 fine after a failure in the coke ovens at the plant. These incidents contribute to a documented pattern of regulatory violations concerning pollution control at its primary industrial operations.
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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.