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.
Ping An Insurance (Group) Company of China, Ltd. is a major financial services conglomerate whose business includes significant financing and insurance services for the fossil fuel sector. According to the Banking on Climate Chaos Fossil Fuel Finance Report, Ping An was among the top global financiers of fossil fuels between 2016 and 2022, providing billions in lending and underwriting to coal, oil, and gas companies. This financial support constitutes a critical ancillary service, enabling fossil fuel exploration, extraction, and infrastructure projects. While the company publishes sustainability reports and has made net-zero commitments for its investment portfolios, its ongoing, material financial facilitation of fossil fuel expansion places it under this exclusion.
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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.