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.
Systemic Clean Air Act violations resulting in $975,000 penalty and $400 million in mandated facility upgrades. Pattern of EPA enforcement indicates structural non-compliance with emissions regulations.
In November 2013, the EPA and DOJ reached a Clean Air Act settlement with Cabot Corporation after concluding that the company made major modifications at three carbon black manufacturing plants in Louisiana and Texas between 2003 and 2009 without obtaining pre-construction permits or installing required pollution controls. Cabot paid $975,000 in civil penalties and was ordered to spend approximately $84 million on injunctive relief including pollution control equipment, plus $450,000 on environmental mitigation projects in surrounding communities. The settlement reduced sulfur dioxide, nitrogen oxides, and particulate matter emissions by approximately 14,355 tons per year from 2011 levels. ViolationTracker documents Cabot's broader enforcement history under its parent profile.
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.