Scandinavian Tobacco Group A/S
STBGY
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.
Scandinavian Tobacco Group A/S is a manufacturer and distributor of tobacco products, deriving its primary revenue from cigars, pipe tobacco, and next-generation nicotine products. The company operates across four segments serving markets in North America, Europe, and Australia. Its product portfolio includes combustible tobacco goods, which are the core of its business.
The company's public sustainability statement asserts it does not work to increase the number of smokers or to grow the total market for tobacco or nicotine products. However, its business model remains fundamentally dependent on the sale and consumption of these addictive substances.
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.