ICL Group Ltd
ICL
Materials
2
exclusion reasons
2 themes
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.
ICL Group, one of Israel's largest companies, extracts minerals from the Dead Sea to manufacture fertilizers and chemicals. AFSC Investigate documents that ICL has provided services to and conducted agricultural experiments in illegal Israeli settlements in the occupied West Bank and Golan Heights, with its products used in multiple illegal settlements.
ICL Group Ltd is excluded under environmental damage. The company operates in the industrial chemicals and minerals sector, which carries inherent risks of toxic contamination, soil degradation, and ecological harm from its production and waste disposal activities. No specific incidents, enforcement actions, or remediation sites were documented in the source review to detail the scale or nature of the environmental damage.
Research Sources
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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.
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