Nomad Foods Limited
NOMD
Consumer Staples
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.
Nomad Foods, a major European frozen food manufacturer, has had its climate targets validated by the Science Based Targets initiative (SBTi). The SBTi validated the company’s net-zero ambition in September 2025, which includes a commitment to reduce absolute scope 1 and 2 greenhouse gas emissions by 74.8% by 2033 from a 2021 base year. This validation indicates the targets meet the initiative's criteria for corporate climate action. The exclusion under climate policy is based on a prior assessment of its transition pathway; current evidence does not show active obstruction of climate policy, misrepresentation of climate science, or lobbying against emissions regulation.
Research Sources
1 organization
Related Exclusions
Wondering what we do invest in?
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.