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.
Halliburton is one of the world’s three largest oilfield service companies, providing drilling, completion, and production technology exclusively to fossil fuel operators. Its core business is enabling hydrocarbon extraction, from conventional drilling to hydraulic fracturing.
In 2013, Halliburton Energy Services Inc. pleaded guilty to a misdemeanor for destroying evidence related to the 2010 Deepwater Horizon disaster. The company admitted to deleting computer simulations conducted after the blowout that assessed the stability of the Macondo well cement job. Halliburton paid the maximum statutory fine of $200,000 and was sentenced to three years of probation. This conduct occurred during the largest marine oil spill in history, for which Halliburton was a principal contractor.
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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.