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Technology & Data

New NGO Database Names Blacklisted Companies

A coalition of NGOs has launched the Financial Exclusions Tracker, a website that tracks the companies being blacklisted by investors and banks due to sustainability reasons. The tracker offers investors and banks a public dataset that lists a total of 4,532 companies that have been excluded by 87 financial institutions in 16 countries. These companies include ExxonMobil, Philip Morris, Vale and Walmart. The tool found that climate and fossil fuels are the most common reason for companies to be blacklisted by investors, accounting for 40% of exclusions. This was followed by controversial weapons (17%), tobacco (12%), and human rights (7%). The dataset includes the “original motivation” for financial institution excluding each company, with it being updated on a “regular basis”. Investors and banks are also able to “regularly add and remove” corporations from exclusion lists. The NGOs who created the tracker includes BankTrack, Fair Finance International, Forests & Finance, Milieudefensie (Friends of the Earth Netherlands), PAX, Profundo Research Foundation, and the Rainforest Action Network. 

 

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