Recommended Exclusions

On this page we list all companies (with a link to a shorter explanation) that the Council on Ethics have recommended the four AP Funds to exclude from their investments. In all cases the four funds have followed the recommendations.

CompanyCountrySectorYear
AphriaCanadaCannabis2018
Aurora CannabisCanadaCannabis2018
Cannopy GrowthCanadaCannabis2018
CannTrust Holdings IncCanadaCannabis2019
Cronos Group IncCanadaCannabis2019
ElbitIsraelAerospace and defence2010
Freeport McMoRanUSAMetal and mining2013
HanwhaSouth KoreaChemistry2008
HEXO CorpCanadaCannabis2019
Incitec PivotAustraliaChemistry2013
Larsen & ToubroIndiaIndustrial2015
Motorola SolutionsUSATelecom2015
NutrienCanadaCemistry2013
Poongsan CorpSouth KoreaGruv och metall2008
Vale S.A.BrazilMetal and mining2019
Walmart Stores Inc (incl. listed subsidiaries)USAFood and Consumer Staples2013
Zijin MiningChinaMetal and mining2016

The Council on Ethics has the annual routine of urging the excluded companies to act in compliance with the international conventions.