TechnipFMC plc
FTI
Energy
2
exclusion reasons
2 themes
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.
TechnipFMC plc is a global oilfield services company that designs, manufactures, and installs subsea and surface equipment and systems for offshore oil and gas production. Its core business is providing the specialized technology and contracting services required for fossil fuel extraction, particularly in deepwater and other complex environments.
The company has a documented history of foreign bribery to secure oil and gas contracts. In 2019, the U.S. Securities and Exchange Commission (SEC) found that FMC Technologies, a predecessor company, used a Monaco-based intermediary to bribe Iraqi government officials to obtain contracts. To resolve these Foreign Corrupt Practices Act (FCPA) charges, TechnipFMC and its U.S. subsidiary agreed to pay a combined total of over $296 million in criminal fines and disgorgement. A separate SEC order required the company to pay an additional $5.1 million and improve its compliance procedures. These enforcement actions demonstrate a pattern of misconduct directly tied to its core business of serving fossil fuel operators.
TechnipFMC and its predecessor companies have incurred environmental penalties totaling $140,433 across five recorded violations between 2004 and 2019, as documented by ViolationTracker. These penalties stem from incidents of toxic contamination and breaches of environmental law. The company's core business of providing subsea equipment and services for offshore oil and gas production directly enables operations in sensitive marine ecosystems, where the risk of environmental damage from spills or other incidents is inherent.
Research Sources
7 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.
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