AP4 has, in accordance with their values, excluded companies from its investment universe that are directly involved in the production or marketing of anti-personnel landmines and cluster munitions. Companies can also be divested if they violate the UN Global Compact and the OECD Guidelines for Multinational Enterprises and where dialogue with the companies has not led to improvements.
As part of an annual procedure, The Ethical Council urges all the excluded companies to act in accordance with international conventions.
List over companies that AP4 has excluced:
|Elbit Systems Ltd||2010||Israel||Aerospace and defence|
|Freeport McMoRan Copper & Gold Inc||2013||United States||Metals and mining|
|Hanwha Corporation||2008||South Korea||Chemicals|
|Incitec Pivot Ltd||2013||Australia||Chemicals|
|L-3 Technologies, Inc.||2008||United States||Aerospace and defence|
|Larsen & Toubro||2015||India||Industrial|
|Motorola Solutions||2015||United States||Telecom|
|Orbital||2008||United States||Aerospace and defence|
|Poongsan Corp||2008||South Korea||Metals and mining|
|Textron Inc||2008||United States||Aerospace and defence|
|Walmart Stores Inc||2013||United States||Food and staples retailing|
|Zijin Mining||2016||China||Metals and mining|
For more information about the excluded companies and details about the specific cases,
please read the Ethical Councils annual reports.