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Chevron Corporation

CVX

Energy

8

exclusion reasons

5 themes

Corporate Misconduct (2) Labor Rights (2) Geopolitical Conflict (2) Direct Harm (1) Fossil Fuels (1)
CVX Energy Current as of March 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.

Political Influence
Since Mar 8, 2026

Chevron Corporation has engaged in a documented pattern of using the legal and political system to shield itself from accountability for environmental harm. This is most prominently illustrated by its decades-long litigation concerning oil pollution in the Ecuadorian Amazon. Following a $9.5 billion judgment against it in Ecuadorian courts, Chevron pursued a retaliatory racketeering case against the plaintiffs' lawyer, Steven Donziger, which resulted in his criminal contempt conviction and house arrest. Legal observers, including human rights groups, have cited this case as an example of using judicial pressure and political influence to evade liability.

Furthermore, Chevron is a consistent and significant participant in political lobbying, regularly ranking among the top spenders in the oil and gas sector. Its lobbying efforts have historically focused on opposing climate regulations, supporting fossil fuel subsidies, and influencing energy policy. This political engagement functions to protect and prolong its core business operations in oil and gas extraction amidst mounting environmental and legal challenges.

Anti-Union Activity
Since Mar 8, 2026

Chevron has faced strikes by United Steelworkers Local 5 at its Richmond, CA refinery and reports of retaliatory terminations of workers engaged in union activities at overseas operations. ViolationTracker documents multiple labor relations violations.

Conflict & War Zones
Since Mar 8, 2026

Chevron signed an oil exploration agreement off the Syrian coast during active civil war and operated the Leviathan gas field in contested Israeli waters before halting production due to regional conflict escalation.

Preventable Deaths
Since Mar 8, 2026

Chevron Corporation operates a global network of high-hazard facilities, including refineries, offshore platforms, and pipelines, where safety failures have resulted in preventable worker and community deaths. In 2021, a massive fire and explosion at the Chevron refinery in El Segundo, California, sent a plume of toxic smoke over surrounding communities. Earlier that same year, an explosion at the Chevron refinery in Pascagoula, Mississippi, injured multiple workers.

The company was found liable for deliberate environmental contamination in Ecuador's Lago Agrio oil field, operations originally conducted by Texaco, which Chevron acquired. The court found the pollution caused a public health crisis, including cancer deaths, which experts linked directly to the oil waste.

Chevron has settled claims related to violations of the Risk Management Program rule at its U.S. refineries, a regulation designed to prevent catastrophic chemical releases. The recurrence of major fires, explosions, and toxic releases across its global operations indicates persistent failures in safety management directly contributing to preventable fatalities.

Corruption & Fraud
Since Mar 8, 2026

Chevron paid a $30M FCPA settlement in 2007 including $25M in disgorgement plus civil penalties for books-and-records violations related to the UN Oil-for-Food Programme in Iraq.

Forced Labor
Since Mar 8, 2026

Chevron's Yadana gas pipeline project in Myanmar has been linked to forced labor by Amazon Watch and AFSC, with local populations compelled to work on pipeline infrastructure.

Upstream Fossil Fuels
Since Sep 20, 2025

Chevron Corporation is a global integrated energy company whose core business is the exploration, extraction, and production of oil and natural gas. In the third quarter of 2025, its total net oil equivalent production was 3.396 million barrels per day. The company's operations span the full fossil fuel value chain, with upstream exploration and production being a primary driver of its revenue, which exceeded $184 billion in 2023.

The company's climate strategy relies heavily on carbon offsets and technologies that have been criticized as insufficient. A 2023 investigation concluded that a significant portion of Chevron's carbon offsets were "junk" and that some projects may cause harm. Furthermore, Chevron has been implicated in legal actions alleging that major fossil fuel companies engaged in long-running campaigns to mislead the public about climate change. In a recent case, Chevron sought to disqualify climate science presented by an Oregon county suing the company for damages related to a deadly heat wave.

Chevron is the largest fossil gas producer for Israel. Operates Tamar and Leviathan fields generating $1.5B revenue in 2023. Paid $820M+ in royalties to the Israeli government. 71% of Israel's electricity runs on fossil gas; two-thirds of that comes from Chevron's Tamar field under contract through 2030. Named in Albanese's June 2025 UN report (A/HRC/59/23). On the AFSC BDS Divestment Shortlist. Israel Electric Corporation — Chevron's primary customer — supplies all military bases, prisons, and settlements. Israel tightened its Gaza naval blockade to 3–6 miles specifically to secure Chevron's Tamar rig.

Research Sources 20 organizations

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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.