Imperial Oil Limited
IMO
Energy
4
exclusion reasons
3 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.
Sarnia refinery SO2 violations directly impacted adjacent Aamjiwnaang First Nation community; 11 documented unlawful releases 2019 violated Ontario Environmental Protection Act; community bears disproportionate exposure burden from refinery corridor
Downstream refinery throughput averaging 408,000 bbl/day; Sarnia, ON refinery: 11 unlawful sulfur dioxide releases (Jul-Oct 2019) violating Ontario Environmental Protection Act; penalties >$800,000
Upstream production averaging 444,000 gross BOE/day from Kearl and Cold Lake oil sands; ~70% owned by ExxonMobil; 2023 CAD $805,340 oil spill penalty under Canadian environmental law
Imperial Oil Limited is an integrated oil sands producer whose emissions intensity significantly exceeds its sector peers. The company’s primary operations—including oil sands mining, upgrading, and refining—are among the most carbon-intensive methods of producing liquid fuels. No recent emissions data, reduction targets, or governance disclosures were reviewed for this assessment; a current evaluation of the company’s climate transition pathway relative to industry benchmarks is required to confirm the exclusion.
Research Sources
3 organizations
Related Exclusions
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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.
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