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SHERWIN WILLIAMS CO

SHW

Materials

1

exclusion reason

1 theme

Environmental Harm (1)
SHW Materials Current as of April 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.

Environmental Damage
Since Apr 1, 2026

Sherwin-Williams has a well-documented legacy of environmental damage through decades of lead paint production and marketing despite knowledge of its toxicity. In 2000, Santa Clara County filed a landmark lawsuit against Sherwin-Williams and other manufacturers for promoting lead paint for residential use while knowing the product was highly toxic, particularly to children. A 2014 trial resulted in a $1.15 billion verdict (later reduced to $409 million on appeal). In 2019, Sherwin-Williams, Conagra Brands, and NL Industries settled for $305 million, payable over six years, to fund lead paint remediation in homes across 10 California jurisdictions including Los Angeles, San Francisco, and Oakland counties. Sherwin-Williams has separately fought to have insurers cover its lead paint liabilities, with courts ruling against the company. The company is also flagged by ChemScore for managing 25 SIN List (Substitute It Now) hazardous chemical substances and 3 persistent chemicals in its product portfolio. The lead paint litigation represents one of the largest public health environmental damage cases in U.S. history, with ongoing remediation obligations.

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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.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.