CARRIER GLOBAL CORP
CARR
Industrials
1
exclusion reason
1 theme
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.
Carrier Global proposed a $730 million settlement in 2024 to resolve PFAS-related claims against its subsidiary Kidde-Fenwal, Inc., a former manufacturer of the "National Foam" brand of PFAS-containing aqueous film-forming foam (AFFF) used in firefighting. The settlement structure includes $615 million in cash over five years plus an estimated $115 million from KFI asset sales and insurance recovery proceeds. Kidde-Fenwal filed for Chapter 11 bankruptcy in May 2023 under the weight of PFAS contamination lawsuits. In May 2025, attorneys general from seven U.S. states objected to the bankruptcy plan, alleging it improperly shields Carrier Global from billions in additional PFAS liability. Connecticut AG William Tong called the deal an attempt to "evade billions of dollars in PFAS forever chemical liability."
Research Sources
3 organizations
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.