Conflict Zone Operations
Conduct Screen Geopolitical Conflict
Companies operating in or materially supporting activities in active conflict zones — providing goods, services, or infrastructure that sustain armed conflict, or profiting from conflict conditions. For a company with conflict zone operations to avoid exclusion, an affirmative argument is required that the civilian population would be materially worse off without the company's service (e.g., the only source of heat, power, or essential infrastructure). Partnering with a junta to extract resources is categorically different from providing essential civilian services in a conflict-affected area. Includes resource extraction in conflict-affected areas (conflict minerals), military logistics in war zones, and commercial operations that fund belligerents. Distinct from occupied_territories (specific internationally recognized occupations) and military_contracting (defense sales channel).
107 companies currently excluded under this screen
Excluded Companies (107 total)
Showing 107 of 107 companies excluded under this screen.
| Ticker | Company | Reason |
|---|---|---|
| 036460.KS | Korea Gas Corporation | Korea Gas Corporation (KOGAS) operates in Myanmar, a country experiencing an active internal armed conflict following the 2021 military coup. The company is a major partner in the Shwe natural gas pro... |
| 105630 | Hansae Co Ltd | Hansae Co Ltd is a South Korean garment manufacturer listed by AFSC Investigate under the Conflict & War Zones category for human rights violations in conflict-affected areas. |
| 2603 | Evergreen Marine Corp Taiwan Ltd | Excluded by the Norwegian Government Pension Fund Global in January 2018 for selling end-of-life vessels to beaching yards in South Asia (Gadani, Pakistan and Chittagong, Bangladesh), where ship-break... |
| 2792 | Honeys Holdings Co Ltd | Honeys Holdings (now Honeyz & Co.) was excluded by NBIM and multiple European funds for operating garment factories in Myanmar, where its operations materially support the military junta regime throug... |
| 5880 | Korea Line Corp | Korea Line Corporation has for years disposed of its end-of-life vessels by selling them for scrapping on the beaches of Bangladesh and Pakistan. This practice, known as beaching, takes place in condi... |
| 720 | Hyundai Engineering & Construction Co Ltd | Hyundai Engineering & Construction is flagged for conflict zone involvement. The evidence file referenced a Global Witness article about U.S. sanctions against entities financing conflict in the DRC, ... |
| 726 | Luthai Textile Co Ltd | Lu Thai Textile Co Ltd (Shenzhen: 000726) was excluded by NBIM (Norway's sovereign wealth fund) on a conduct-based exclusion. The company is listed on the OpenSanctions database as a debarred entity, ... |
| 883 | CNOOC | CNOOC was added to the US Commerce Department Entity List in January 2021 for materially assisting the Chinese military's construction and militarization of artificial islands in the disputed South Ch... |
| ACN | ACCENTURE PLC | Accenture has significant contracts with ICE (Immigration and Customs Enforcement). AFSC Investigate documents the company role in immigration enforcement infrastructure. Additionally, Accenture has p... |
| ACP | Asseco Poland SA | Asseco Poland SA owns a majority stake in Israeli company Formula Systems, which provides cybersecurity and IT services to illegal Israeli settlement councils, the Israeli military, and the Israeli Mi... |
| ACSAY | ACS Actividades De Construccion Y Servicios ADR | ACS Actividades de Construccion y Servicios is a Spanish construction and infrastructure conglomerate. The company has operated large-scale construction projects in conflict zones and territories unde... |
| ADANIPORTS | Adani Ports and Special Economic Zone Limited | Adani Ports and Special Economic Zone Limited (APSEZ) operates a container terminal in Yangon, Myanmar, through a lease agreement with the military-controlled Myanmar Economic Corporation (MEC). The M... |
| AFHL | Afcon Holdings Ltd | Afcon Holdings Ltd., an Israeli company based in Petah Tikva specializing in control, automation, and electro-mechanical systems, provides substantial operational support to Israeli military and secur... |
| AIR | AAR | AAR is a global aerospace and defense company that provides aftermarket products and services, including aircraft maintenance, repair, and overhaul (MRO). The company operates in numerous active confl... |
| ALHE | Alony-Hetz Properties & Investments Ltd | Alony Hetz Properties & Investments Ltd is an Israeli real estate investment firm whose portfolio includes properties in Israeli settlements in the occupied West Bank, as documented by the American Fr... |
| ALSMY | Alstom SA | Alstom participated in Jerusalem Light Rail through CityPass consortium from 2001. Route crosses into occupied East Jerusalem connecting settlements. At least nine European institutions excluded or di... |
| AMZN | Amazon.com, Inc. | AWS co-developed Project Nimbus alongside Google Cloud — the main cloud infrastructure for the Israeli government. When Gaza invasion computing demands surged in October 2023, the military turned to A... |
| ASHG | Ashtrom Group LTD | Ashtrom Group has built in occupied territory since the early 1970s. Constructed thousands of housing units in at least 11 settlements. Supplied materials for Jerusalem Light Rail, receiving NIS 500 m... |
| AVAV | AeroVironment Inc | AeroVironment, Inc. is a pure-play military contractor whose entire commercial identity is built around lethal and surveillance drone systems for armed forces. The company designs and manufactures the... |
| BAH | Booz Allen Hamilton Holding Corporation | Booz Allen Hamilton is a major defense and intelligence contractor whose business model is materially supporting U.S. military operations in active conflict zones. The company derives a significant po... |
| BEZQ | Bezeq the Israeli Telecom Corp | Bezeq The Israeli Telecommunication Corp provides telecommunications infrastructure and services that materially sustain Israeli military operations in the occupied West Bank. The company operates hun... |
| BKNG | Booking Holdings Inc. | Booking Holdings, through its Booking.com platform, facilitates and profits from tourism accommodations in illegal Israeli settlements in the occupied West Bank. These settlements are widely recognize... |
| BRAN | Baran Group Ltd | Baran Group has military facility construction contracts and border surveillance project work. $18M Elbit Systems contract for factory relocation tied to forced displacement of 36,000 Palestinian Bedo... |
| CACI | CACI International | CACI was awarded a $907M five-year Afghanistan intelligence contract in 2019. When the US withdrawal terminated that contract, the CEO described it publicly as a "2 percent headwind." The company fund... |
| CDNS | CADENCE DESIGN SYSTEMS INC | Cadence Design Systems pleaded guilty (July 2025) and agreed to pay $140.6M in combined criminal and civil penalties for unlawfully exporting semiconductor design tools to the National University of D... |
| CDRE | Cadre Holdings Inc | Cadre Holdings' Safariland subsidiary has $724K in CBP contracts for tear gas deployed against asylum seekers at the US–Mexico border. Safariland products were also deployed at Standing Rock (2016) an... |
| CG | CARLYLE GROUP INC | Acquired defense contractor ManTech International ($4.2B, 2022), the 42nd-largest U.S. military contractor with $14.4B in DoD contracts. ManTech provides AI-powered surveillance and targeting systems ... |
| CHRW | C.H. Robinson Worldwide, Inc. | OFAC $257,690 settlement (Dec 2024): 82 apparent violations of Iranian Transactions and Sanctions Regulations (ITSR) and Cuban Assets Control Regulations (CACR) across five non-US subsidiaries. Violat... |
| CLBT | Cellebrite DI Ltd | Cellebrite's UFED phone extraction system can process 3,000 devices per unit. The IDF used Cellebrite tools to harvest data from thousands of Palestinian phones during the 2023–2025 Gaza campaign; the... |
| CLIS | Clal Insurance Enterprises Holdings Ltd | Clal Insurance financed Israeli military base construction and holds 5%+ equity stakes in Ashtrom, Electra, Formula Systems, and Shapir — all of which have documented roles in settlement construction.... |
| CNH | CNH Industrial | CNH Industrial equipment is systematically used by Israeli authorities and private contractors in the OPT. On April 8, 2025, CASE-branded machinery documented by Who Profits being used in demolition o... |
| CSCO | Cisco Systems, Inc. | Cisco was selected by the Israeli Ministry of Defense in 2017 as sole server provider under a $250M+ contract via US Foreign Military Sales. The Israeli military built its largest-ever data center — D... |
| CVX | Chevron Corporation | Chevron signed an oil exploration agreement off the Syrian coast during active civil war and operated the Leviathan gas field in contested Israeli waters before halting production due to regional conf... |
| CX | CEMEX, S.A.B. de C.V. | Israeli subsidiary Readymix Industries provided concrete for construction of Israel's separation wall, military checkpoints, and settlement infrastructure in the occupied West Bank. Operated manufactu... |
| CZGZF | Colt CZ Group SE | Israel requested 18,000 Colt M4/MK18 rifles for Gaza operations and settlement security. Colt holds $753.5M in DOD contracts from 2008–2024 and has been the standard-issue Israeli military rifle suppl... |
| DELG | Delta Galil Industries Ltd | Subsidiary Delta Israel Brands operates three retail stores in illegal Israeli settlements in the occupied West Bank. Previously maintained a warehouse in a settlement industrial zone. Included in the... |
| DSCT | Israel Discount Bank Ltd. | Israel Discount Bank provides loans, credit, and banking services to regional and local councils of Israeli settlements in the occupied West Bank, as documented by the research organization Who Profit... |
| EC | Ecopetrol S.A. | Ecopetrol, Colombia's state-controlled oil company, has been the subject of multiple, serious allegations of complicity in human rights violations connected to its operations. These allegations, docum... |
| EDDRF | eDreams Odigeo SA | Online travel platform continued listing and booking accommodations in occupied East Jerusalem through its group websites despite public claims of cessation. Removed from the UN settlement database wi... |
| ELTR | Electra Ltd | Builds large-scale settlement infrastructure in the occupied West Bank and Golan Heights, including residential buildings for settlement councils and systems for Highway 60. Subsidiary Electra-Afikim ... |
| ENLT | Enlight Renewable Energy Ltd | Develops and operates renewable energy projects on occupied land, including the 207 MW Genesis Wind farm (39 turbines) in the occupied Syrian Golan Heights and solar installations in Gaza Envelope set... |
| ERMAF | ERAMET S.A. | Eramet S.A. has been excluded from the Norwegian Government Pension Fund Global due to an unacceptable risk that the company contributes to or is responsible for serious human rights violations. The N... |
| ESLT | Elbit Systems Ltd | Elbit Systems Ltd is an international military technology company and defense contractor headquartered in Israel. Its core business is developing and producing weapons, combat systems, and surveillanc... |
| EXPE | EXPEDIA GROUP INC | Lists accommodation properties in illegal Israeli settlements in the occupied West Bank, East Jerusalem, and Golan Heights through Expedia.com and Hotels.com. Added to the UN database of companies wit... |
| F | Ford Motor Company | Supplies vehicles to Israeli military and police that are armored and retrofitted for combat operations in occupied territories. Ford F-350 trucks serve as the platform for SandCat light armored vehic... |
| FIBI | First International Bank of Israel Ltd | First International Bank of Israel provides financial services that are a necessary prerequisite for construction activity in Israeli settlements in the West Bank, including by issuing guarantees to c... |
| FIBIH | F I B I Holding Ltd | F I B I Holding Ltd, through its subsidiary First International Bank of Israel, provides essential financial services that facilitate construction activity in Israeli settlements in the West Bank. The... |
| FIBIH.TA | F.I.B.I. Holdings Ltd. | F.I.B.I. Holdings Ltd., the holding company for First International Bank of Israel (FIBI), provides essential financial services that facilitate the construction and maintenance of Israeli settlements... |
| FSLR | First Solar Inc | Supplied approximately 104,000 solar panels to a solar farm in Kalia, an illegal Israeli settlement in the occupied Jordan Valley, occupying 33 acres of occupied Palestinian land. |
| GAILF | GAIL (India) Limited | GAIL (India) Limited holds an 8.5% stake in the Shwe offshore gas project in Myanmar, one of the largest sources of foreign revenue for the military-controlled Myanma Oil and Gas Enterprise (MOGE). Th... |
| GD | General Dynamics Corp. | General Dynamics provides weapon systems, components, and maintenance services to Israel's fleet of F-15, F-16, and F-35 fighter jets. The company also sells weapons to Saudi Arabia, which has been en... |
| GILT | Gilat Satellite Networks Ltd. | Gilat Satellite Networks received a $6 million defense contract to provide military communications solutions in the Asia-Pacific region. The company is an Israeli satellite communications provider lis... |
| GM | General Motors Company | Supplies engines and transmission units powering multiple Israeli military vehicles, including the Flyer 72 and tactical utility vehicles deployed in Gaza operations. Chevrolet Grumman vans used as mo... |
| GNSS | Genasys Inc | Manufactures the Long Range Acoustic Device (LRAD), an acoustic weapon routinely deployed by the Israeli military against Palestinian protesters in the occupied West Bank. The Israeli Ministry of Defe... |
| GOOGL | Alphabet Inc. | Google Cloud Platform co-developed Project Nimbus with AWS — a $1.2 billion government-wide cloud contract serving all branches of the Israeli government including the military. When Israel's ground i... |
| HAMAT | Hamat Group Ltd. | Hamat Group operates a factory in the Barkan illegal settlement industrial zone in the occupied West Bank, manufacturing plastic plumbing and sanitation products under the Lipski brand. Products are e... |
| HLTEF | Hilan Ltd | Hilan Ltd is one of Israel's largest IT companies, serving "the entire defense and security organizations and entities in Israel." Its subsidiary Ness acquired EntServ Israel, which manages aspects of... |
| HON | Honeywell International Inc. | Honeywell International Inc. operates a substantial Aerospace and Defense Technologies segment, which accounted for approximately 36% of its 2024 net sales. This business unit provides critical avioni... |
| HTHIY | Hitachi Ltd | Hitachi’s global operations and supply chains include sourcing from and operating in conflict-affected regions. The company’s own Sustainable Procurement Guidelines, updated in May 2025, explicitly st... |
| IVL | Indorama Ventures PCL | Indorama Ventures PCL is a major global chemical producer with operations in conflict-affected regions. The company's manufacturing footprint includes facilities in areas of active conflict, where its... |
| JBNK | Bank of Jerusalem Ltd | Bank of Jerusalem financed hundreds of housing units in at least six settlements between 2017-2021, including two neighborhoods in occupied East Jerusalem. Operates branches in at least two settlement... |
| JISLJALEQS | Jain Irrigation Systems Ltd | Jain Irrigation Systems' subsidiary NaanDan Jain Irrigation carries out irrigation projects in and provides services to illegal Israeli settlements in the occupied West Bank and Golan Heights, per AFS... |
| KBR | KBR | KBR is a U.S. engineering and construction company with significant military contracting operations, previously a subsidiary of Halliburton. Listed by ECIC for human rights violations in conflict zone... |
| KDDIF | KDDI CORP | KDDI Corporation operates telecommunications infrastructure in Myanmar through a joint venture with Myanma Posts and Telecommunications (MPT), providing technology and engineering capacity. The Norweg... |
| LAPD | Lapidoth Capital Ltd | Lapidoth Capital is an Israeli holding group that owns Africa Israel Investments (since 2020), which in turn controls Danya Cebus. Both subsidiaries are involved in construction and infrastructure pro... |
| LDOS | Leidos Holdings | Leidos Holdings provides imaging technologies and biometric systems to U.S. immigration authorities for border monitoring and surveillance. The company (formerly part of SAIC, split in 2013) operates ... |
| LHX | L3Harris Technologies, Inc. | L3Harris Technologies is a major defense contractor whose products and services are integral to modern military operations in active conflict zones. The company's core business involves developing and... |
| LMT | Lockheed Martin Corporation | Lockheed Martin Corporation is a principal contractor for the U.S. Department of Defense and a leading global arms manufacturer. Its core business is the development and sale of advanced weapons syste... |
| LNNGY | Li Ning Company Limited | Li Ning’s supply chain has been linked to state-sponsored forced labor programs in Xinjiang. In March 2022, U.S. Customs and Border Protection detained Li Ning products at ports following an investiga... |
| LUMI | Bank Leumi Le-Israel B.M. | Bank Leumi provides financial services that are a necessary prerequisite for construction activity in Israeli settlements in the West Bank, which are illegal under international law. The bank’s operat... |
| MGDL | Migdal Insurance and Fincl Hldngs Ltd | Migdal Insurance, one of Israel's largest insurance companies, routinely finances and insures construction projects in illegal settlements throughout the occupied West Bank, per AFSC Investigate. The ... |
| MGOR | mega or holdings ltd | Mega Or Holdings is an Israeli real estate firm that develops shopping malls in illegal settlements in the occupied West Bank, per AFSC Investigate. AFSC places the company on its BDS Divestment Short... |
| MMHD | Menora Mivtachim Holdings Ltd | Menora Mivtachim, one of Israel's largest insurance companies, routinely finances residential and commercial construction projects in illegal Israeli settlements in the occupied West Bank. In 2019, th... |
| MSFT | Microsoft Corporation | Microsoft's Azure cloud platform participates in the Joint Warfighting Cloud Capability contract for the U.S. military and has supported the U.S. DOD since at least 1980. Azure has facilitated Israeli... |
| MSI | Motorola Solutions, Inc. | Motorola Solutions designs, markets, and sells mission-critical communications and surveillance systems to military and government customers globally. Its products include two-way radios, command cent... |
| MVNE | Mivne Real Estate (K.D) Ltd. | Mivne Real Estate (K.D) Ltd. owns and leases commercial and industrial properties in industrial zones that are linked to Israeli settlements in the occupied West Bank. The Council on Ethics for Norway... |
| MXCHF | Orbia | Orbia operates a polyvinyl chloride (PVC) resin production facility in Netanya, Israel, which is an active conflict zone. The company’s 2023 Annual Report identifies Israel as a market where it mainta... |
| MZTF | Mizrahi Tefahot Bank Ltd. | Mizrahi Tefahot Bank provides the financial services necessary for the construction and maintenance of Israeli settlements in the occupied West Bank. These settlements are widely considered illegal un... |
| NLMK | Novolipetsk Steel | Novolipetsk Steel (NLMK) — Russian state-linked steel company; Vladimir Lisin (NLMK controlling shareholder) is a sanctioned Russian oligarch; company generates tax revenue supporting Russian war effo... |
| NOC | Northrop Grumman Corp. | Northrop Grumman is a leading global aerospace and defense technology company whose core business is manufacturing weapons systems for military customers. As the world’s third-largest military contrac... |
| ONGC | Oil & Natural Gas | Oil & Natural Gas Corporation (ONGC) participates in two joint ventures with South Sudan's state oil company Nilepet amid an ongoing civil war in which petroleum resources are a primary driver of viol... |
| OR | PTT | PTT, through its subsidiary PTT Exploration and Production (PTTEP), operates the Yadana and Zawtika offshore natural gas projects in Myanmar. These operations generate substantial revenue for the stat... |
| OSIS | OSI Systems Inc | OSI Systems designs, manufactures, and sells security and inspection systems, including baggage scanners, cargo scanners, and vehicle inspection portals. These systems are deployed at border crossings... |
| PAGEIND | Page Industries Ltd | Page Industries is the exclusive licensee of Jockey International in India, Sri Lanka, and other South Asian markets. The company has faced scrutiny over labor conditions in its manufacturing operatio... |
| PGCSF | Prosegur Compañía de Seguridad, S.A. | Prosegur’s subsidiary in Brazil has been implicated in severe acts of violence and abuse against Indigenous peoples in the context of land disputes. The company provided security services to agribusin... |
| PLTR | Palantir Technologies Inc. | Palantir Technologies provides its data integration and analytics platforms to military and intelligence agencies operating in active conflict zones, materially supporting armed conflict. The company’... |
| PUMSY | Puma SE Unsponsored ADR | Puma SE sponsors the Israel Football Association (IFA), which includes teams based in illegal Israeli settlements in the occupied West Bank. The American Friends Service Committee (AFSC) and the BDS m... |
| PYPL | PayPal Holdings Inc | PayPal operates a global payments platform that facilitates financial transactions in active conflict zones, including Palestine. In May 2023, a shareholder resolution requested the company establish ... |
| PZZPF | Paz Retail And Energy Ltd. | Paz Retail and Energy Ltd. is one of two Israeli companies that produce jet fuel from imported crude oil. Its subsidiary, Ashdod Refinery, provides jet fuel to the Israeli Air Force, which operates in... |
| RMLI | Rami Levi Chain Stores Hashikma Marketing 2006 Ltd | Rami Levi Chain Stores Hashikma Marketing 2006 Ltd operates five supermarkets in the West Bank, part of its network of 44 discount supermarkets across Israel. The company's commercial operations in th... |
| ROTS | Rotshtein Realestate Ltd | Rotshtein Realestate Ltd is an Israeli real estate development and construction company. The American Friends Service Committee Investigate database identifies the company as involved in the settlemen... |
| RTX | Rtx Corp | RTX Corporation, through its Raytheon business unit, is a major supplier of defense and security equipment to Israel. In September 2025, Raytheon was listed among 1,600 defense suppliers participating... |
| SAIC | Science Applications International Corporation | Science Applications International Corporation (SAIC) derives approximately 99% of its $11 billion annual revenue from U.S. government contracts, predominantly with the Department of Defense. This cor... |
| SEDG | Solaredge Technologies Inc | SolarEdge Technologies Inc. manufactures and sells its power optimizer and inverter systems in Israel, where its headquarters and primary R&D and manufacturing facilities are located. The company's op... |
| SMTGY | SMA Solar Technology ADR | SMA Solar Technology AG supplies solar inverters and energy management systems to projects in Israel, including utility-scale solar installations. The company has established a direct presence in the ... |
| SNT | Senstar Technologies Ltd | Senstar Technologies Ltd., formerly Magal Security Systems Ltd., is a provider of physical intrusion detection and video management systems. The company's perimeter security solutions, including fence... |
| SPEN | Shapir Engineering and Industry Ltd | Shapir Engineering and Industry Ltd is an Israeli construction and infrastructure firm whose operations materially support activities in active conflict zones. The company is involved in construction ... |
| TDY | TELEDYNE TECHNOLOGIES INC | Teledyne Technologies Inc. is a defense electronics and aerospace company that derives significant revenue from military contracts, including the supply of components and subsystems for unmanned aeria... |
| TH | Target Hospitality Corp. | Target Hospitality Corp. operates specialty rental and hospitality services, including workforce lodging and catering, for government and commercial clients. The company has been identified on the 202... |
| THLLY | Thales | Thales is a French multinational defense and aerospace company whose electronic components have been documented in Russian military equipment used in the invasion of Ukraine. In 2023, Reuters reported... |
| TMO | Thermo Fisher Scientific Inc | Thermo Fisher is listed in the Ukrainian Main Directorate of Intelligence (GUR) database of foreign machinery found inside Russian defense enterprises manufacturing weapons. Russian factories require ... |
| TRLT | Tera Light Ltd | Tera Light is an Israeli solar energy company that develops and operates projects in the occupied West Bank, providing infrastructure that supports settlement consolidation in occupied territory, as d... |
| TRU | TransUnion | TransUnion operates in eight African countries, including regions with active conflict zones. The company provides consumer credit reporting and data analytics services globally. No affirmative eviden... |
| TWEKA | TKH Group NV | TKH Group NV is an internationally active technology company that specializes in creating and supplying client-centric technology systems. According to AFSC Investigate, the company's drones have been... |
| TXT | Textron Inc. | Textron Inc. manufactures and sells military platforms and weapons systems used in active conflict zones. Its Bell segment produces military helicopters, including the UH-1Y Venom and AH-1Z Viper, whi... |
| VLVLY | Volvo ADR | Volvo Group has been documented as providing equipment used in human rights abuses within active conflict zones. The company’s construction machinery, including excavators and loaders, has been identi... |
| WSPOF | WSP Global Inc | WSP Global Inc. is a Canadian engineering and professional services firm that provides strategic advisory, engineering, and design services for infrastructure projects globally. The company has been i... |
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.
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