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Honeywell International Inc.

HON

Financials

10

exclusion reasons

7 themes

Weapons & Military (2) Corporate Misconduct (2) Geopolitical Conflict (2) Fossil Fuels (1) Direct Harm (1) Labor Rights (1) Environmental Harm (1)
HON Financials Current as of March 2026

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.

Weapons Promotion
Since Mar 12, 2026

Honeywell International Inc. is a major U.S. defense contractor that manufactures and supplies critical components for nuclear weapons systems. The company is a key contractor for the National Nuclear Security Administration (NNSA), producing non-nuclear mechanical, electronic, and engineered components for the nation's nuclear arsenal. This work is integral to the maintenance and modernization of U.S. strategic weapons.

The company has a documented history of serious compliance failures related to its defense exports. In May 2021, the U.S. Department of State concluded a $13 million settlement with Honeywell over alleged violations of the Arms Export Control Act and the International Traffic in Arms Regulations. The settlement resolved allegations that the company had unauthorized exports of technical data related to multiple military platforms. Furthermore, a 2016 Government Accountability Office report criticized the culture at NNSA contractors, including Honeywell, for enabling retaliation against whistleblowers who raised safety and compliance concerns—a significant governance failure for a company handling the most sensitive national security technology.

Political Influence
Since Mar 8, 2026

Honeywell International is a major federal contractor, with approximately 35% of its revenue derived from government sales, including to the U.S. Department of Defense. The company maintains a significant lobbying presence to influence policy related to its core aerospace, building technologies, and energy businesses. In 2022, Honeywell settled legacy Foreign Corrupt Practices Act violations with the U.S. Department of Justice and the Securities and Exchange Commission, agreeing to pay a total of $202.7 million in penalties, disgorgement, and interest. The company also settled alleged export violations with the U.S. Department of State in 2021 for $13 million. Honeywell’s stated lobbying approach advocates for “technologically neutral solutions” across its diversified portfolio, a stance that can shield its legacy fossil fuel-based product lines from more stringent climate and energy transition policies.

Corruption & Fraud
Since Mar 8, 2026

SEC charges for bribery schemes in Algeria and Brazil; $202.7M settlement; Honeywell UOP paid over $160M to resolve foreign bribery.

Fossil Fuel Services
Since Mar 8, 2026

UOP division materially involved in petroleum refining, gas processing, and petrochemical production.

Conflict & War Zones
Since Mar 8, 2026

Honeywell International Inc. operates a substantial Aerospace and Defense Technologies segment, which accounted for approximately 36% of its 2024 net sales. This business unit provides critical avionics, propulsion components, and integrated systems for military aircraft, including the F-35 fighter jet. The company actively markets these technologies to support military operations globally, stating its solutions help armed forces "stay mission ready."

In 2021, the U.S. Department of State concluded a $13 million settlement with Honeywell over alleged violations of the Arms Export Control Act and the International Traffic in Arms Regulations. The settlement resolved allegations that the company exported technical drawings for components used on various military aircraft, including the F-22 and F-35 fighters, to unauthorized countries. This enforcement action demonstrates Honeywell’s role in the global defense supply chain for active conflict zones.

While Honeywell announced a wind-down of its existing operations in Russia following the 2022 invasion of Ukraine, its core business model remains predicated on supplying advanced technology to military operations worldwide. The company has also signaled its intent to expand defense services in Europe in response to increased military spending driven by the conflict. There is no public evidence that Honeywell’s activities in conflict zones are limited to providing essential civilian services that would meet the affirmative defense for exclusion.

Preventable Deaths
Since Mar 8, 2026

$12M court order for employee death; asbestos-related multi-million dollar verdicts; wrongful death lawsuit re home gas explosion.

Anti-Union Activity
Since Mar 8, 2026

Honeywell International has a documented pattern of interfering with workers' right to organize. In 2012, the National Labor Relations Board (NLRB) investigated the company for alleged union-busting at a South Bend, Indiana facility, including charges that Honeywell violated its contract by laying off union employees before non-union contractors. That same year, an internal Honeywell strategy document was leaked, outlining an anti-union plan that included leveraging political connections to suppress organizing efforts.

This pattern extends across decades. ViolationTracker documents a 2002 NLRB case resulting in an $86,000 penalty for labor relations violations. The recurrence of formal labor violations, from the early 2000s through the 2010s, demonstrates a systemic approach to union avoidance rather than isolated incidents.

Honeywell International provides equipment used by Israeli authorities to demolish homes in the occupied Palestinian territory. The company’s components are also used in the construction and expansion of illegal Israeli settlements in the occupied West Bank.

In 2021, the U.S. Department of State concluded a $13 million administrative settlement with Honeywell to resolve alleged violations of the Arms Export Control Act and the International Traffic in Arms Regulations. While the settlement did not specifically reference occupied territories, it underscores the company’s involvement in the regulated defense trade sector with Israel.

Military Contracting
Since Jan 5, 2006

Honeywell International operates a dedicated Aerospace and Defense business segment, which generated approximately $14.7 billion in revenue in 2023, representing over 35% of the company's total sales. This segment develops and manufactures specialized products for military applications, including aircraft engines, navigation and guidance systems, and components for military vehicles and weapons platforms.

The company is a significant defense contractor to the U.S. Department of Defense and allied governments. In 2021, the U.S. Department of State concluded a $13 million settlement with Honeywell over allegations it violated the Arms Export Control Act and the International Traffic in Arms Regulations. The settlement resolved charges that Honeywell had exported technical drawings for components of multiple military aircraft, including the F-35 Joint Strike Fighter, F-22 fighter jet, and B-1B Lancer bomber, to foreign countries without authorization.

Honeywell's defense portfolio includes technologies specifically designed for warfare, such as electronic warfare systems and directed energy weapons. The company is identified by the Stockholm International Peace Research Institute (SIPRI) as one of the world's top 100 arms-producing and military services companies. Its products are integral to advanced U.S. weapon systems, and its business model is materially dependent on military contracting revenue.

Waste & Plastics
Since Jan 1, 2006

NYSDEC/EPA Consent Decree for Onondaga Lake Superfund site (Syracuse, NY); Allied Chemical (Honeywell predecessor) dumped mercury, chlorinated solvents, and industrial waste into Onondaga Lake for decades; consent decree required dredging and capping 2.2 million cubic yards of mercury- and PCB-contaminated sediment; historically one of the most polluted lakes in the US; remediation ongoing

Research Sources 21 organizations

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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.