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.
Hamat Group operates a factory in the Barkan illegal settlement industrial zone in the occupied West Bank, producing plumbing products under the Lipski brand that are exported to Europe labeled "Made in Israel." The company was included on the 2020 UN database of companies doing business in illegal Israeli settlements. In the U.S., Hamat owns Houzer, which makes kitchen sinks and faucets.
Hamat Group operates a factory in the Barkan illegal settlement industrial zone in the occupied West Bank, manufacturing plastic plumbing and sanitation products under the Lipski brand. Products are exported to Europe labeled "Made in Israel," according to Who Profits. Hamat was included on the 2020 UN database of companies doing business in illegal Israeli settlements.
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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.