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.
Marine Petroleum Trust is a royalty trust whose sole business is collecting and distributing revenue from oil and gas leases in the Gulf of Mexico. The trust holds overriding royalty interests in federal offshore leases, deriving its income from the production and sale of fossil fuels extracted from marine environments. This structure directly links the trust's financial performance to the volume of oil and gas produced from these offshore operations.
The trust’s operations are tied to the upstream (extraction) and midstream (transportation) stages of the fossil fuel value chain. Revenue flows from the production of oil and gas, which is then transported via pipeline. This model provides no diversification away from fossil fuels and is entirely dependent on the continued exploitation of offshore reserves.
Evidence specific to the trust’s own environmental record or operational conduct is not publicly detailed in standard financial disclosures, as it acts as a passive royalty holder rather than an operating company. The exclusion is based on its fundamental business model as a financial vehicle for fossil fuel extraction.
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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.