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.
Great Eastern Shipping has not set a science-based emissions reduction target aligned with the Paris Agreement’s 1.5°C pathway, nor has it committed to the Science Based Targets initiative (SBTi). The company’s public disclosures, including its Corporate Social Responsibility Policy, state no environmental violations but do not outline a quantified, time-bound plan to decarbonize its fleet. This absence of a credible, independently validated climate transition plan places the company among the majority of shipping firms that, as of late 2023, were failing to set science-based targets.
The maritime industry faces significant forthcoming regulation, including the expansion of the EU Emissions Trading System (EU ETS) to shipping. While some major shipping companies have publicly criticized new emissions rules as ineffective, the available evidence does not show Great Eastern Shipping engaging in specific, obstructive lobbying against such climate policies. The exclusion is based on the company’s lack of a demonstrable and accountable commitment to aligning its operations with necessary decarbonization, which constitutes climate intransigence in a high-impact sector.
Great Eastern Shipping’s vessel, the Motor Tanker Swift Winchester, was implicated in a maritime pollution offense involving the illegal discharge of oily bilge water and oily waste. In August 2025, the company was fined $2 million for this violation. Such discharges of petroleum-related chemicals are toxic and carcinogenic, causing direct ecological damage to marine ecosystems through contamination and bioaccumulation in marine organisms. This documented incident of operational negligence leading to environmental destruction places the company within this exclusion category.
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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.