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.
CF Industries resolved Resource Conservation and Recovery Act violations at its Plant City, Florida phosphoric acid and ammoniated fertilizer manufacturing facility, agreeing to pay a $701,500 civil penalty split between the United States and the Florida Department of Environmental Protection, plus $163.5 million in financial assurances. The company was required to spend approximately $12 million to reduce and properly manage hazardous wastes generated at the facility. As part of the settlement, CF Industries agreed to capture all ammonia emissions prior to atmospheric release through closed-loop recirculation of phosphoric acid in secondary scrubbers. This was the first case concluded under the EPA's National Enforcement Initiative for Mining and Mineral Processing, announced August 6, 2010. The scale of the financial assurance requirement — $163.5 million — signals the EPA's assessment of the long-term environmental liability at the site.
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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.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.