General Electric Company
GE
Industrials
5
exclusion reasons
4 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.
General Electric has paid multiple significant penalties to resolve charges of financial misconduct and corruption. In December 2020, the company agreed to pay a $200 million penalty to settle Securities and Exchange Commission charges for disclosure failures that misled investors about its power and insurance businesses. This followed a separate $1.5 billion settlement in 2019 with the Department of Justice to resolve allegations that its WMC mortgage subsidiary misrepresented the quality of its loans and the strength of its internal fraud controls. The SEC has also previously charged GE and two subsidiaries with violating the Foreign Corrupt Practices Act. According to ViolationTracker, GE’s top offenses by penalty value include toxic securities abuses and accounting fraud.
Insufficient evidence for narrative — flagged for CIO review. See review_note for sourcing recommendations.
GE Aerospace supplies jet engines and power systems used in Israeli military aircraft, including platforms active over Gaza and the West Bank. GE engines also power infrastructure in the Golan Heights. AFSC places GE on its BDS shortlist given the breadth of defense-industrial relationships with Israeli forces.
General Electric Company designs and manufactures specialized military propulsion systems as a core business activity. Its GE Aerospace division produces jet engines for combat aircraft, including the F-15, F-16, and F/A-18, and is the sole-source engine provider for the B-52 Stratofortress re-engining program. The company’s Defense & Systems division develops power systems for naval vessels and advanced mission systems. According to SIPRI data, GE holds significant contracts for foreign military sales, including a $6.4 million contract with Kuwait for “significant military equipment.”
In November 2023, GE Aerospace agreed to pay $9.4 million to resolve allegations it violated the False Claims Act by knowingly submitting false claims to the Department of Defense for turbine engine parts that did not conform to contract specifications. This settlement, documented by the Department of Justice, underscores the material and direct nature of GE’s defense contracting business, which involves purpose-built systems for warfare.
EPA Hudson River PCBs Superfund site; General Electric dumped an estimated 1.3 million pounds of PCBs from Fort Edward and Hudson Falls, NY facilities between 1947–1977; largest Superfund dredging project in US history, removing 2.65 million cubic yards of contaminated sediment; EPA active monitoring and sampling through 2025+; ongoing fish consumption advisories across 200-mile river stretch
Research Sources
13 organizations
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.