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.
Genesis Energy LP operates a midstream energy business whose core services are transportation, storage, and processing of crude oil and natural gas. Its operations include an extensive offshore pipeline network in the Gulf of Mexico, marine transportation assets, and a network of terminals, storage tanks, and refinery-related plants. The company's own disclosures state that demand for its midstream services is directly dependent on the demand for crude oil and natural gas, and it identifies regulatory shifts away from fossil fuels as a material risk to its business. There is no evidence of a strategic pivot or material investment in non-fossil fuel infrastructure; the company's essential service is enabling the continued production and use of oil and gas.
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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.