North American Construction Group Ltd.
NOA
Energy
1
exclusion reason
1 theme
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.
North American Construction Group Ltd. provides heavy construction and mining services primarily to the resource development sector in Western Canada. The company's core business includes overburden removal, site development, and reclamation services for oil sands mining operations. It also provides mine management services for a thermal coal mine and construction support in the Canadian oil sands region, maintaining one of the largest independently owned equipment fleets for this purpose. This establishes the company's central role in enabling fossil fuel extraction infrastructure.
The company's operations are directly tied to oil sands and thermal coal projects, which are among the most carbon-intensive methods of fossil fuel production. Its services facilitate the upstream development of these resources. While the company has filed supply chain reports in accordance with Canadian regulations, its business model remains fundamentally linked to the construction and maintenance of fossil fuel extraction sites, with no announced transition away from this core service line.
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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.
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