GAIL (India) Limited
GAILF
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.
GAIL faces regulatory pressure regarding domestic operations. National Green Tribunal (NGT) has sought action against GAIL for operating infrastructure segments without valid environmental clearances. Operates 18,000 km gas network with methane intensity concerns (India not a Global Methane Pledge signatory). As of Jan 2026, GAIL's Pata complex subject to legally binding emission reduction targets under the new Indian Carbon Credit Trading Scheme.
GAIL (India) Limited holds an 8.5% stake in the Shwe offshore gas project in Myanmar, one of the largest sources of foreign revenue for the military-controlled Myanma Oil and Gas Enterprise (MOGE). The Norwegian Government Pension Fund's Council on Ethics recommended exclusion on November 29, 2022, finding "an unacceptable risk that the company is contributing to serious violation of the rights of individuals in situations of war and conflict." Norges Bank excluded GAIL on April 27, 2023. Following Myanmar's February 2021 military coup, MOGE gas revenues directly fund military operations responsible for documented mass atrocities against civilians. In July 2024, the Shwe consortium awarded a $523 million contract for Phase 2 expansion, signaling continued commitment to the regime's primary revenue stream.
Research Sources
6 organizations
Related Exclusions
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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.
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