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KBR

KBR

Industrials

2

exclusion reasons

2 themes

Geopolitical Conflict (1) Weapons & Military (1)
KBR Industrials 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.

Conflict & War Zones
Since Sep 21, 2025

KBR is a U.S. engineering and construction company with significant military contracting operations, previously a subsidiary of Halliburton. Listed by ECIC for human rights violations in conflict zones.

Source:
ECIC
Military Contracting
Since Jul 28, 2021

KBR is a major military services contractor whose business model is materially dependent on U.S. defense spending. According to SIPRI data, the company derived an estimated 60.4% of its revenue from military services in 2024, totaling approximately $4.97 billion. This places KBR among the top 40 largest defense contractors globally.

The company’s core military business is providing logistical support to deployed U.S. forces under the LOGCAP (Logistics Civil Augmentation Program) contract. During the Iraq War, KBR employed more than 50,000 people in theater to build and staff facilities, provide food, and deliver other essential services, representing roughly half of all deployed contractor personnel at the time. The Pentagon has paid KBR over $20 billion for this work. This operational role—directly enabling military deployment and occupation—distinguishes KBR from companies selling incidental goods to the military.

KBR’s conduct as a contractor has been marked by significant legal violations. In 2022, the company settled allegations of kickbacks and false claims related to LOGCAP III for $108.75 million. The lawsuit alleged KBR routinely lied to the Army by certifying it had checked for excess material before ordering new supplies. A separate 2013 federal case involved allegations of labor trafficking. The company’s model—profiting from war while accumulating legal settlements for misconduct—epitomizes the war-industrial complex.

Research Sources 2 organizations
Ethical Capital
Internal

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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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