Danske Invest - Emerging Markets Debt Fund D
The table and lists below show which companies or issuers that the above mentioned investment product is not allowed to invest in, i.e. which investments are excluded from the product's investment universe. The table demonstrates the total number of excluded investments in each exclusion category following Danske Bank’s most recent screening of investments, see "Total number of exclusions".
Please note that the number of excluded investments does not reflect the actual reduction of the product's investment universe. This is because not all excluded investments are covered by the product's reference benchmark and/or the product's investment strategy.
Please note that the number of excluded investments does not reflect the actual reduction of the product's investment universe. This is because not all excluded investments are covered by the product's reference benchmark and/or the product's investment strategy.
The reduction of the investment universe for the product as a result of the exclusions is estimated to be 0-5%. The actual impact can be greater or smaller and is reported for each of the exclusion categories in the product's annual report. The figures from the latest annual report are included in the table, see "% of benchmark excluded" and "Excluded issuers in benchmark (number)", but please note that these do not reflect the total impact that exclusions may have on the product as an investment can be excluded in more than one category.
When an investment is excluded in a category, it will appear in the applicable list under the table.
Find more information about how Danske Invest works with exclusions here: You do not invest in everything
Exclusions in Emerging Markets Debt Fund D
The product applies 10 different exclusion categories. These are listed below:| Exclusion category | Definition | Criteria/Threshold | Total number of excluded investments | % of benchmark excluded | Excluded issuers in benchmark (number) |
|---|---|---|---|---|---|
| Sustainability Risk | The exclusion covers companies involved in activities deemed to expose them to significant sustainability risk | Case specific | 24 | Not yet reported | Not yet reported |
| Norm based* | Companies involved in activities considered unacceptable in relation to international norms | Case specific | 475 | 0.0% | 0 |
| Good governance* | Companies not living up to indicators in relation to good governance | Case specific | 25 | 0.0% | 0 |
| Country exclusions* | The exclusion covers countries that express weak sustainability practices, have weak governance or have weak social safeguards | Case specific | 25 | 0.0% | 0 |
| Tobacco | The exclusion covers several parts of the production process (such as leaf growing, harvesting, curing and processing) and distribution of products made entirely or partly of leaf tobacco as raw material, which are intended to be smoked, sucked, chewed or snuffed (including electronic cigarettes and other ‘Next-Generation Products’) | >5% Revenue | 120 | 0.0% | 0 |
| Pornography | The exclusion covers production, broadcasting and distribution of images of sexual behavior that are intended to cause sexual excitement (including products labelled ‘erotica’, ‘porn’ or ‘adult entertainment’).
|
>1% Revenue | 11 | 0.0% | 0 |
| Controversial weapons | The exclusion covers production, maintenance, sale, prime contracting, key sub-contracting and supplier of key components related to anti-personnel mines, biological weapons, chemical weapons, cluster munition and nuclear weapons outside the Non-Proliferation Treaty (NPT) | >0% Revenue | 45 | 0.0% | 0 |
| Thermal coal | The exclusion covers mining activities (i.e. production) of coal and power generation using coal to produce electricity or process steam. | >5% Revenue | 368 | 0.0% | 0 |
| Tar sands | The exclusion covers surface mining and in-situ recovery of nconventional petroleum deposit as either loose sands or partially consolidated sandstone containing a naturally occurring mixture of sand, clay, and water, saturated with a dense and extremely viscous form of petroleum technically referred to as bitumen (or colloquially as tar due to its superficially similar appearance).
|
>5% Revenue | 53 | 0.0% | 0 |
| Peat-fired power generation | The exclusion covers power generation using peat, i.e. organic fuel consisting of spongy material formed by the partial decomposition of organic matter, primarily plant material, in wetlands | >5% Revenue | 1 | 0.0% | 0 |
*Part of Enhanced sustainability standards
List of Excluded Investments
Below you can see the companies and issuers identified under each exclusion category at the latest screening conducted by Danske Bank Asset Management.Sustainability Risk
| Bluestone Resources Inc/Canada | Bristow Group Inc. | Camping World Holdings, Inc. |
| China Express Airlines Co Ltd | Cineplex Inc | Delek Drilling LP |
| Dish Network Corporation | Indian Bank | Insys Therapeutics, Inc. |
| Liberty Tripadvisor Holdings, Inc. | Mallinckrodt PLC | Multi Commodity Exchange of India Ltd |
| N L Industries, Inc. | Nemaska Lithium Inc | New Residential Investment Corp |
| Opera Ltd | Petroteq Energy Inc | Rgc Resources, Inc. |
| Samsung Pharmaceutical Co Ltd | Shanghai Jinqiao Export Processing Zone Development Co Ltd | TRG Pakistan |
| Td Ameritrade Holding Corporation | Trada Alam Minera Tbk PT | Very Good Tour Co Ltd |
Norm based*
| ALROSA-Nyurba PJSC | Abrau-Durso PJSC | AcBel Polytech, Inc. |
| Acron PJSC | Adani Abbot Point Terminal Pty Ltd. | Adani Enterprises |
| Adani Green Energy | Adani Ports & Special Economic Zones | Aeroflot PJSC |
| Aganneftegazgeologia OAO | Agrofirma Mcenskaya OAO | Alfa-Bank |
| Almaz-Antei PAO | Alrosa PJSC | Aphria |
| Archer-Daniels Midland Co. | Arktikneftegazstroy OAO | Aselsan Elektronik Sanayi ve Ticaret AS |
| Atomic Energy Power Corp. | Avangard Bank PJSC | Avary Holding (Shenzhen) Co., Ltd. |
| AviChina Industry & Technology | Aziyo Biologics, Inc. | BARRICK MINING CORP |
| BRF SA | Bajaj Hindustan Sugar Ltd. | Bamtonnelstroy |
| Bank Otkritie Financial Corp OJSC Via OFCB Capital PLC | Bank Otkritie Financial Corp PJSC/Tochka | Bank Rossiya OAO |
| Bank St Petersburg PJSC | Bank ZENIT PJSC | Barrick (PD) Australia Finance Pty Ltd. |
| Barrick Gold | Barrick Gold Finance Co. | Barrick North America Finance LLC |
| Barrick TZ Ltd. | Bashneft PJSC | Beijing Tong Ren Tang Chinese Medicine Co., Ltd. |
| Beijing Tongrentang Co., Ltd. | Belon OJSC | Belspetsvneshtechnika |
| Beluga Group PJSC | Bharat Electronics Limited | Bharat Heavy Electricals Ltd |
| Black Sea Trade & Development Bank | Bunge Alimentos SA | Bunge Brasil SA |
| Bunge Finance Europe BV | Bunge Ltd | Bunge Ltd. Finance Corp. |
| Bunge NA Finance LP | CNOOC Canada, Inc. | CNOOC Curtis Funding No. 1 Pty Ltd. |
| CNOOC Finance (2003) Ltd. | CNOOC Finance (2011) Ltd. | CNOOC Finance (2012) Ltd. |
| CNOOC Finance (2013) Ltd. | CNOOC Finance (2014) ULC | CNOOC Finance (2015) U.S.A. LLC |
| CNOOC Ltd | Cargill | Center for Cargo Container Traffic TransContainer PJSC |
| Centerenergyholding JSC | Centrais Eletricas Brasileiras SA (Eletrobras) | Central Bank of the Russian Federation/The |
| Central Telegraph PJSC | Cetelem Bank | Changhong Meiling Co., Ltd. |
| Chelyabinsk Forge & Press Plant PJSC | Chelyabinsk Metallurgical Plant PJSC | Chelyabinsk Pipe Plant PJSC |
| Cherkizovo Group PJSC | China Coal Energy Co Ltd | China National Nuclear Corp. |
| China National Petroleum Corporation (CNPC) | China Shipbuilding Industry Co., Ltd. | China Traditional Chinese Medicine Holdings Co. Ltd. |
| Chrezvichainaia strahovaia co CHSK OAO | Cnooc Finance (2015) Australia Pty Ltd. | Commercial Sea Port of Vladivostok PJSC |
| Companhia Energetica De Minas Gerais (CEMIG) | Conoco Funding Co. | ConocoPhillips |
| ConocoPhillips Australia Funding Co. | ConocoPhillips Canada Funding Co. I | ConocoPhillips Canada Funding Co. II |
| ConocoPhillips Co. | CoreCivic Corp | Credit Bank of Moscow PJSC |
| DTE Energy Co | Dalmoreprodukt | Daqo New Energy Corp. |
| Dushanzi Petrochemical Company | EN+ Group International PJSC | ENEL RUSSIA PJSC |
| ElSewedy Electric Co | Elbit Systems Ltd. | Elektrostal OAO |
| Enbridge Inc | Energospecmontazh | Energy Transfer Equity LP |
| Energy Transfer Operating LP | European Eltech PJSC | Evraz Plc |
| Eximbank of Russia | Exxon Mobil Corporation | Far-Eastern Energy Co PJSC |
| Far-Eastern Shipping Co PLC | Federal Grid Co Unified Energy System PJSC | First Pacific Company Limited |
| Formosa Chemicals & Fibre Corp. | Formosa Taffeta Co., Ltd. | Freeport McMoRan |
| GAZ-Tek PJSC | GCL New Energy Holdings Limited | GCL Technology |
| GCM Resources plc | GEO Group | Gaiskiy GOK OAO |
| Gaz-service PJSC | Gazkon PJSC | Gazprom Gazoraspredelenie Syktyvkar AO |
| Gazprom Neft PJSC | Gazprom PJSC | Gazprom PJSC Via Gaz Capital SA |
| Gazprom PJSC via Gaz Finance PLC | Gazprombank | GenBank |
| Genting Bhd | Genting Plantations Berhad | Geotech Seismic Services PJSC |
| Giprospetsgaz OAO | Glencore | Golden Agri-Resources Ltd |
| Grand Pharmaceutical Group Ltd. | Grupo Mexico SAB de CV | Gruppa kompaniy kommunalnoy sfery PAO |
| Gtlk Europe Capital DAC | HALS-Development PJSC | HIKVision |
| Halcyon Agri Corp Ltd | Haoxiangni Health Food Co., Ltd. | Harmony Gold Mining Co Ltd |
| Honeys Holding | Hoshine Silicon Industry Co., Ltd. | Hotel Kosmos OAO |
| Huaihe Energy (Group) Co., Ltd. | Human Stem Cells Institute PJSC | IDGC of Centre and Volga Region PJSC |
| IDGC of Urals JSC | IDGC of the North-West PJSC | INGRAD OOO |
| INVEST-DEVELOPMENT PJSC | IOI Corporation Berhad | IOI Investment Labuan Bhd. |
| Imperial Oil Ltd | Indofood Agri Resources Ltd. | Ingosstrakh Insurance Co |
| Inner Mongolia Baotou Steel Union Co | Inter RAO UES PJSC | Irkutskenergo PJSC |
| Izhorskiye Zavody PJSC | JBS Finance II Ltd. | JBS Finance Luxembourg SARL |
| JBS NV | JBS SA | JBS USA Finance, Inc. |
| JBS USA LLC | JG Summit Holdings, Inc. | JSC Kalashnikov |
| Jastrzebska Spolka Weglowa SA | Jiangsu Guotai International Group Co., Ltd. | Jiangxi Copper Co Ltd |
| Jinko Solar Co | Jointown Pharmaceutical Group Co., Ltd. | KIBO Energy PLC |
| KTK Group Co., Ltd. | Kalugaputmash | Kaluzsky Plant of Automobile Electrical Equipment OAO |
| Kamaz PJSC | Kamchatskenergo PJSC | Khanty-Mansiyskdorstroy OAO |
| Komi Energosbytovaya Co OAO | Komitex JSC | Korporatsiya Takticheskoe Raketnoe Vooruzhenie OAO |
| Korporatsiya Taktischeskoe Raketnoe Vooruzhenie OAO | Korshynov Mining Plant PJSC | Kovrovskiy Mekhanicheskiy Zavod OAO |
| Krasfarma OAO | Krasnoyarskenergosbyt PJSC | Krasnoyarsknefteproduct |
| Krasnyj Octyabr PJSC | Kriogenmash PAO | Kuban Trunk Grid |
| KuibyshevAzot PJSC | Kurganskaya Generiruyushchaya Kompaniya PAO | Kuzbasskaya Toplivnaya Co JSC |
| LSR Group PJSC | LUKOIL PJSC | Leidos, Inc. |
| Lengazspecstroy OAO | Lens Technology Co Ltd | Lenzoloto PJSC |
| Li Ning Company Limited | Luthai Textile Co Ltd | Luxshare Precision Industry Co ltd |
| M.Video PJSC | MMC Norilsk Nickel PJSC | Magadanenergo PJSC |
| Magnit PJSC | Magnitogorsk Iron & Steel Works PJSC | Marathon Petroleum Corp |
| Mechel PJSC | MegaFon PJSC | Metafrax OAO |
| Metallurgical Corporation of China | Mikron JSC | Minerva SA |
| Mobile TeleSystems PJSC | Moscow City Telephone Network PJSC | Moscow Exchange MICEX-RTS PJSC |
| Mosenergo PJSC | Mostotrest PJSC | Muhibbah Engineering (M) Bhd. |
| NC Rosneft- Kubannefteproduct PJSC | NTPC Ltd | Nauchno-Proizvodstvennoe Obedinenie S plav OAO |
| Nitel OAO | Nizhegorodoblgaz OAO | Nizhnekamskneftekhim PJSC |
| Novatek PJSC | Novikombank AO | Novolipetsk Steel PJSC |
| Novoroslesexport OAO | Novorossiysk Commercial Sea Port PJSC | Novorossiyskiy Kombinat Khleboproduktov PAO |
| OCP SA | OFILM Group Co., Ltd. | OGK-2 PJSC |
| ONGC Videsh Ltd. | Obnyeftegazgeologia OJSC | Oil & Natural Gas Corp |
| Oracle Power PLC | Organichesky Sintez PJSC | Otkritie Bank OJSC |
| Ozon Holdings PLC | PIK Group PJSC | PJSC SPC Energia |
| POSCO | PT Astra Agro Lestari Tbk | PT Astra International Tbk |
| PT Bakrie & Brothers Tbk | PT Barito Pacific Tbk | PT Indofood Sukses Makmur Tbk |
| PT Perusahaan Perkebunan London Sumatra Indonesia Tbk | PT Salim Ivomas Pratama Tbk | PT Sawit Sumbermas Sarana Tbk |
| Permenergosbyt PJSC | PetroChina Company Limited | Petroleum Trading Lao Public Co |
| Petropavlovsk PLC | Pharmacy Chain 36.6 PJSC | Phillips 66 |
| PhosAgro PJSC | Pigment OJSC | Polymetal International Plc |
| Polyus PJSC | Posco International Corp | Positive Group PJSC |
| Power Construction Corporation of China | Press Metal Aluminium Holdings Berhad | Press Metal Bhd. |
| Priargunsky Industrial Mining and Chemical Union OAO | Priisk Dambuki OAO | Primorie Bank PJSC |
| Proizvodstvennoye Ob Yedineniye Severnoye Mashinostroitel'noye Predpriyatiye AO | Promsvyazbank | Quadra Power Generation PJSC |
| ROSSETI PJSC | Raspadskaya OAO | Red Rock Resorts, Inc. |
| Renaissance Insurance Group JSC | Rio Zim Ltd. | Rosgosstrakh PJSC |
| Rosneft Oil Co PJSC | Rosseti Centre PJSC | Rosseti Kuban PJSC |
| Rosseti Lenenergo PJSC | Rosseti Moscow Region PJSC | Rosseti North Caucasus PJSC |
| Rosseti Siberia PJSC | Rosseti South PJSC | Rosseti Volga PJSC |
| Rostec | Rostec State Corp | Rostelecom PJSC |
| Rostovoblgaz PJSC | RusHydro PJSC | Rusolovo PJSC |
| Ruspolimet OJSC | RussNeft PJSC | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russia Federation |
| Russia Federation | Russia Federation | Russian Agricultural Bank |
| Russian Agricultural Bank OJSC Via RSHB Capital SA | Russian Aquaculture PJSC | Russian Direct Investment Fund |
| Russian Railways JSC | Ryazan Energy Retail Co PJSC | SAIC Motor Corp. Ltd |
| SFI PJSC | SJVN Lmt. | SK Holdings Co |
| SK Innovation Co Ltd | SLC Agricola SA | SPB Exchange PJSC |
| Samaraenergo PJSC | Samarco Mineracao SA | Samolet Group |
| Santos | Saratovskiy Neftepererabatyvayuschiy Zavod PJSC | Sasol Financing International Plc |
| Sasol Financing USA LLC | Sasol Ltd | Sberbank of Russia PJSC |
| Sberbank of Russia Via SB Capital SA | Segezha Group PJSC | Seligdar PJSC |
| Severalmaz PAO | Severstal PAO | Shein |
| Sinotruk Hong Kong Ltd. | Sistema PJSFC | Slavneft-Megionneftegaz PPO OAO |
| Slavneft-Megionneftegazgeologia OAO | Slavneft-Yaroslavnefteorgsintez OJSC | Sokolskiy Pulp & Paper |
| Solikamsk Magnesium Plant OJSC | Sollers PJSC | South-Kuzbass GRES OAO |
| South32 | Southern Copper | Sovcombank PJSC |
| Sovcomflot PJSC | Sredneuralskij Medeplavilnyj Zavod OAO | Surgutneftegas PJSC |
| Sysymanzoloto OAO | TBEA | TCS Group Holding PLC |
| TGC-1 PJSC | TGC-2 PJSC | TGK-14 PJSC |
| TNS Energo Voronezh PJSC | TNS Energos PJSC | TNS energo Nizhny Novgorod PJSC |
| TNS energo Rostov-on-Don PJSC | TNS energo Yarosavl PJSC | Ta Ann Holdings Bhd |
| Taganrog Boiler-Making Works Krasny kotelshchik PJSC | Tatneft PJSC | Tattelecom PJSC |
| Texhong Textile Group Limited | Tingo Group | Tong Ren Tang Technologies Co., Ltd. |
| Tongling Nonferrous Metals Group | Toyo Ventures Holdings Bhd. | TransFin-M PAO |
| Transkapitalbank | Trina Solar | Tulachermet PAO |
| Tulamashzavod | Tulanefteprodukt PJSC | Turquoise Hill Resources Ltd. |
| Tutaev Motor Plant OAO | Tverskoy Vagonostroitelniy Zavod | UTair Aviation PJSC |
| Uchalinskiy Gorno-Obogatitelniy Kombinat OAO | Udmurtneft OAO | Ufaleynickel PJSC |
| Ugol'naya Kompaniya Yuzhnyy Kuzbass PAO | United Aircraft Corporation | United Co RUSAL International PJSC |
| United Credit Systems PJSC | United Shipbuilding Corporation | United Wagon Co PJSC |
| Ural Bank for Reconstruction and Development | UralSib Bank PJSC | Uralelektromed OAO |
| Uralkali PJSC | Uralskaya Kuznitsa OAO | Uralvagonzavod |
| VK Co Ltd | VSMPO-AVISMA Corp PJSC | VTB Bank PJSC |
| Varyeganneftegaz PJSC | Vedanta Limited | Vedanta Resources Finance II Plc |
| Vedanta Resources Jersey Ltd. | Vedanta Resources Ltd | Victory City International Holdings Ltd. |
| Vnesheconombank Via VEB Finance PLC | Volcan Cia Minera SAA | Vyborg Shipyard PAO |
| WTK Holdings Bhd | Wilmar International Ltd | Woodside Energy |
| World Trade Center Moscow PJSC | X5 Retail Group NV | Xinjiang Nonferrous Metal Industry Group Co Ltd |
| Xinjiang Zhongthai Chemical | YAmaltransstroj PJSC | Yakutsk Fuel-Energy Co PJSC |
| Yakutskenergo PJSC | Youngor Group Co., Ltd. | Yunnan Baiyao Group Co., Ltd. |
| Yuzhno-Ural'skij nikelevyj kombinat PJSC | Yuzhural-Asko PJSC | ZHAOJIN MINING INDUSTRY LTD H |
| ZIL PJSC | ZTE Corp | Zavod Imeni VA Degtyareva OAO |
| Zhen Ding Technology Holding Ltd. | Zijin International Capital Co., Ltd. | Zijin International Finance Co., Ltd. |
| Zijin Mining |
Good governance*
| ABC-MART, INC. | ARIAKE JAPAN Co., Ltd. | Active Biotech AB |
| CHUDENKO CORP. | DONG SUH Companies Inc. | Danieli & C. Officine Meccaniche SpA |
| Datang International Power Generation Co., Ltd. | DoubleUGames Co., Ltd. | Energiekontor AG |
| Everbright Securities Company Limited | Evertz Technologies Limited | Ferrotec Corp. |
| Fujimi, Inc. | HANMI Semiconductor Co., Ltd. | HPSP Co., Ltd. |
| KYB Corp. | Monarch Casino & Resort, Inc. | NB Bancorp, Inc. |
| New China Life Insurance Company Ltd. | Ningbo Deye Technology Co., Ltd. | Rorze Corp. |
| Toei Animation Co., Ltd. | Traction AB | Urban One, Inc. |
| Xinyi Glass Holdings Ltd. |
Country exclusions*
| Afghanistan | Bangladesh | Belarus |
| Burundi | Central African Republic | Chad |
| Cuba | DR Congo | Equatorial Guinea |
| Eritrea | Haiti | Iran |
| Liberia | Libya | Madagascar |
| Myanmar | Niger | North Korea |
| Russia | Somalia | South Sudan |
| Sudan | Syria | Vietnam |
| Yemen |
Tobacco
| 22nd Century Group, Inc. | A-1 Group, Inc. | AMVIG Holdings Ltd. |
| Al-Eqbal Co. for Investment Plc | Altadis Emisiones Financieras SA | Altadis SA |
| Altria Group, Inc. | American Heritage International, Inc. | Arcis Resources Corp. |
| Asberry 22 Holdings, Inc. | Asenovgrad Tabac AD | B.A.T Capital Corp. |
| B.A.T. Finance BV | B.A.T. International Finance Plc | B.A.T. Netherlands Finance BV |
| BADECO ADRIA dd | BAT Brasil | Bat Australasia Ltd. |
| British American Tobacco Argentina SAICy F | British American Tobacco Bangladesh Company Limited | British American Tobacco Chile Operaciones SA |
| British American Tobacco Co. Ltd. | British American Tobacco Holdings (The Netherlands) BV | British American Tobacco Italia SpA |
| British American Tobacco Kenya Plc | British American Tobacco Malaysia Bhd. | British American Tobacco Peru Holdings Ltd. |
| British American Tobacco Uganda Ltd. | British American Tobacco Yava Jsc | British American Tobacco Zambia Plc |
| British American Tobacco Zimbabwe Ltd. | British American Tobacco plc | Bulgartabac Holding AD |
| CTO Co. Ltd. | Carreras Ltd. | Cat Loi JSC |
| Ceylon Tobacco Company Plc | Charlie's Holdings, Inc. | China Boton Group Company Limited |
| China Tobacco International (HK) Company Limited | Coka Duvanska Industrija AD | Consolidated Cigar Holdings, Inc. |
| Dupnitsa-Tabak AD | Duvanska Industrija AD Bujanovac | Duvanski Kombinat ad Podgorica |
| Eastern Co. (Egypt) | Elentec Co., Ltd. | Gemini Group Global Corp. |
| Gilla, Inc. | Godfrey Phillips India Ltd. | Golden Tobacco Ltd. |
| Guangdong DFP New Material Group Co., Ltd. | Guangdong New Grand Long Packing Co., Ltd. | Harrys Manufacturing Inc. |
| Hrvatski Duhani dd | Huabao International Holdings Limited | IMA T&T SpA |
| ITC Limited | Icon Vapor, Inc. | Imperial Brands Finance Netherlands BV |
| Imperial Brands Finance Plc | Imperial Brands Plc | Ispire Technology Inc. |
| JT International Financial Services BV | Japan Tobacco, Inc. | Jerusalem Cigarette Co. Ltd. |
| KT&G Corp. | Karelia Tobacco Co., Inc. | Khyber Tobacco Co. Ltd. |
| Kimree, Inc. | LT Group, Inc. | Litu Holdings Limited |
| Lorillard LLC | NTC Industries Ltd. | Ngan Son JSC |
| Nikotiana BT Holding AD | North Atlantic Trading Co., Inc. | PT Bentoel International Investama |
| PT Gudang Garam Tbk | PT Hanjaya Mandala Sampoerna Tbk | PT Indonesian Tobacco Tbk |
| PT Wismilak Inti Makmur Tbk | Pakistan Tobacco Co. Ltd. | Pazardzhik BTM AD |
| Philip Morris (Pakistan) Ltd. | Philip Morris CR as | Philip Morris International Inc. |
| Philip Morris Operations AD | Press Corporation Plc | Pyxus International, Inc. |
| R.J. Reynolds Tobacco Holdings, Inc. | RLX Technology, Inc. | Reynolds American, Inc. |
| SITAB | Scandinavian Tobacco Group A/S | Shaanxi Jinye Science Technology & Education Group Co., Ltd. |
| Shanghai Industrial Holdings Limited | Shanghai Shunho New Materials Technology Co., Ltd. | Shenzhen Jinjia Group Co., Ltd. |
| Shenzhen Yinghe Technology Co., Ltd. | Shumen Tabac AD | Sila Holding AD |
| Sinnar Bidi Udyog Ltd. | Slantse Stara Zagora Tabac AD | Smoore International Holdings Limited |
| Societe Nationale d'exploitation Industrielle des Tabacs | Strumica Tabak AD | Swedish Match AB |
| TSL Ltd. | Tanzania Cigarette Co. Ltd. | Turning Point Brands, Inc. |
| Tutunski Kombinat AD Prilep | Union Investment Corp. | Union Tobacco & Cigarette Industries Co. |
| Universal Corporation | VPR Brands LP | VST Industries Limited |
| Vector Group Ltd. | Wee-Cig International Corp. | West Indian Tobacco Co. Ltd. |
Pornography
| Attica Publications SA | DNXcorp SE | Erotik-Abwicklungsgesellschaft AG |
| FriendFinder Networks, Inc. | Metro Global Media, Inc. | New Frontier Media, Inc. |
| Playboy, Inc. | Private Media Group, Inc. | RCI Hospitality Holdings, Inc. |
| Scores Holding Co., Inc. | VIDINEXT Ltd. |
Controversial weapons
| Aerospace Long-March International Trade Co., Ltd. | Anhui GreatWall Military Industry Co., Ltd. | Anhui Military Industry Group Holding Co. Ltd. |
| Arab Organization for Industrialization | Aryt Industries Ltd. | Ashoka Manufacturing Ltd |
| Atomic Energy Power Corp. | Avibras Industria Aeroespacial SA | Bharat Dynamics Limited |
| China Aerospace Science & Industry Corp. Ltd. | China Aerospace Science & Technology Corp. | China National Nuclear Corp. |
| China North Industries Corp. | China North Industries Group Corp. Ltd. | China Nuclear Engineering & Construction Corp. Ltd. |
| China Poly Group Corp. Ltd. | Defence Industries Organization | Grupa Niewiadow - PGM SA |
| JMV LPS Ltd. | Jbj Technologies Ltd. | KSB Limited |
| KSB SE & Co. KGaA | LIG Corp. | LIG Nex1 Co., Ltd. |
| Larsen & Toubro Limited | Lockheed Martin Corporation | MTAR Technologies Ltd. |
| Ordtech Military Industries | POONGSAN HOLDINGS Corp. | Pakistan Ordnance Factories |
| Poongsan Corp. | Premier Explosives Ltd. | Reshef Technologies Ltd. |
| Rostec Corp. | SNT DYNAMICS Co., Ltd. | SNT Holdings Co., Ltd. |
| Sandhar Technologies Limited | Solar Defence & Aerospace Ltd. | Solar Industries India Limited |
| Special Machine Building & Metallurgy PJSC | State-Owned Foreign Trade Unitary Enterprise Belspetsvneshtech | Synthetic Moulders Ltd. |
| The Day & Zimmermann Group, Inc. | Walchandnagar Industries Ltd. | Zen Technologies Ltd. |
Thermal coal
| AES Andes SA | AES Argentina Generacion SA | AES El Salvador Trust II |
| AES Espana BV | AGL Energy Limited | ALLETE, Inc. |
| Aboitiz Equity Ventures, Inc. | Aboitiz Power Corp. | Abu Dhabi National Energy Co. PJSC |
| Adani Electricity Mumbai Ltd. | Adani Enterprises Limited | Adani Power Limited |
| African Rainbow Minerals Ltd. | Agritrade Resources Limited | Aksa Enerji Uretim AS |
| Alabama Power Company | Albioma SA | Alliance Holdings GP LP |
| Alliance Resource Operating Partners LP | Alliance Resource Partners LP | Alliant Energy Corporation |
| Ameren Corporation | American Electric Power Company, Inc. | An Hui Wenergy Co., Ltd. |
| Anhui Hengyuan Coal Industry & Electricity Power Co., Ltd. | Appalachian Power Co. | Arch Resources, Inc. |
| Arizona Public Service Co. | Avista Corporation | Banpu Power Public Co. Ltd. |
| Banpu Public Company Limited | Bathurst Resources Limited | Beijing Energy Investment Holdings Ltd. |
| Beijing Haohua Energy Resource Co., Ltd. | Beijing Jingneng Power Co., Ltd. | Berkshire Hathaway Energy Co. |
| Bisichi Plc | Black Hills Corporation | Bowen Coking Coal Limited |
| Brickworks Limited | Bulgarian Energy Holding EAD | Bumi Investment Pte Ltd. |
| CESC Limited | CEZ as | CLP Holdings Limited |
| CMS Energy Corporation | Can2 Termik AS | CenterPoint Energy, Inc. |
| China Coal Energy Company Limited | China Coal Xinji Energy Co., Ltd. | China Huadian Corp., Ltd. |
| China Huadian Overseas Development 2018 Ltd. | China Huadian Overseas Development Management Co., Ltd. | China Huaneng Group Co., Ltd. |
| China Longyuan Power Group Corp. Ltd. | China Power International Development Limited | China Qinfa Group Limited |
| China Resources Power Holdings Co., Ltd. | China Shenhua Energy Company Limited | China Shenhua Overseas Capital Co., Ltd. |
| Chubu Electric Power Co., Inc. | Cleco Corporate Holdings LLC | Cloud Peak Energy Inc. |
| Cloud Peak Energy Resources LLC | Coal Energy SA | Coal India Ltd. |
| Colbun SA | Consumers Energy Company | ContourGlobal Ltd. |
| ContourGlobal Power Holdings SA | Core Natural Resources, Inc. | DMCI Holdings, Inc. |
| DTE Electric Co. | DTE Energy Company | Datang International Power Generation Co., Ltd. |
| Deneb Investments Ltd. | Dominion Energy, Inc. | Dominion Resources Capital Trust I |
| Dominion Resources Capital Trust III | Duke Energy Carolinas LLC | Duke Energy Corporation |
| Duke Energy Florida LLC | Duke Energy Florida Project Finance LLC | Duke Energy Ohio, Inc. |
| Dynegy Finance I, Inc. | ENEA SA | EP Energy as |
| EP Infrastructure as | EPH Financing International as | EWE AG |
| Electric Power Development Co., Ltd. | Electricity Generating Public Company Limited | Elion Energy Co., Ltd. |
| Emera Incorporated | Emera US Finance LP | Empresa Electrica Angamos SA |
| Energa Finance AB | Energa SA | Energeticky a prumyslovy holding as |
| Engie Energia Chile SA | Engro Corporation Limited | Entergy Arkansas LLC |
| Entergy Utility Affiliates LLC | Entergy Utility Property, Inc. | Eskom Holdings SOC Ltd. |
| Eterna Capital Pte Ltd. | Evergy Kansas Central, Inc. | Evergy, Inc. |
| Exxaro Resources Ltd. | Feishang Anthracite Resources Limited | First Pacific Company Limited |
| FirstEnergy Corp. | Foresight Energy LLC | Foresight Energy LP |
| Fujian Funeng Co., Ltd. | GD Power Development Co., Ltd. | GMR Power & Urban Infra Ltd. |
| GS Holdings Corp. | Gansu Energy Chemical Co., Ltd. | Genesis Energy Limited |
| Geo Energy Resources Limited | Georgia Power Co. | Global Power Synergy Public Company Limited |
| Glow Energy Public Company Limited | Golden Energy and Resources Limited | Guangdong Baolihua New Energy Stock Co., Ltd. |
| Guangdong Electric Power Development Co., Ltd. | Guangdong Investment Limited | Guanghui Energy Co., Ltd. |
| Guangxi Guiguan Electric Power Co., Ltd. | Guangzhou Development Group, Inc. | Guizhou Panjiang Refined Coal Co., Ltd. |
| Gujarat Mineral Development Corporation Limited | HK Electric Investments & HK Electric Investments Ltd. | Hallador Energy Company |
| Henan Zhongfu Industrial Co., Ltd. | Hero Asia Investment Ltd. | Hidili Industry International Development Limited |
| Hokkaido Electric Power Co., Inc. | Hokuriku Electric Power Co. | Hopewell Holdings Ltd. |
| Hosken Consolidated Investments Ltd. | Huadian Energy Co., Ltd. | Huadian Power International Corporation Limited |
| Huaibei Mining Holdings Co., Ltd. | Huaneng Hong Kong Capital Ltd. | Huaneng Power International, Inc. |
| Hubei Energy Group Co., Ltd. | IDACORP, Inc. | IE2 Holdco SAU |
| IPALCO Enterprises, Inc. | ITOCHU ENEX CO., LTD. | Indiana Michigan Power Co. |
| Indika Energy Capital III Pte Ltd. | Indo Energy Finance BV | Indo Energy Finance II BV |
| Indo Integrated Energy II BV | Inner Mongolia Berun Chemical Co., Ltd. | Inner Mongolia Dian Tou Energy Corp. Ltd. |
| Inner Mongolia Junzheng Energy & Chemical Group Co., Ltd. | Inner Mongolia Mengdian Huaneng Thermal Power Corp. Ltd. | Inner Mongolia Yitai Coal Co., Ltd. |
| Inter RAO UES PJSC | InterGen NV | Interstate Power & Light Co. |
| Irkutskenergo JSC | Israel Electric Corp. Ltd. | Izdemir Enerji Elektrik Uretim AS |
| Izmir Demir Celik Sanayi AS | JAKS Resources Berhad | JSW Energy Limited |
| Jaiprakash Power Ventures Limited | Jardine Cycle & Carriage Limited | Jiangsu Guoxin Corp. Ltd. |
| Jinneng Holding Shanxi Coal Industry Co., Ltd. | Jinneng Holding Shanxi Electric Power Co,. Ltd. | Jizhong Energy Resources Co., Ltd. |
| Jointo Energy Investment Co., Ltd. Hebei | KSK Power Venture Plc | Kinetic Development Group Limited |
| Kobe Steel, Ltd. | Korea East-West Power Co., Ltd. | Korea Electric Power Corp. |
| Kuzbasskaya Toplivnaya Kompaniya PJSC | KyungDong Invest Co., Ltd. | Kyushu Electric Power Co., Inc. |
| LG&E & KU Energy LLC | LX International Corp. | Listrindo Capital BV |
| Louisville Gas & Electric Co. | Lubelski Wegiel BOGDANKA SA | Lucky Cement Ltd. |
| MC Mining Limited | MDU Resources Group, Inc. | MGE Energy, Inc. |
| Majapahit Holding BV | Malakoff Corporation Berhad | Manila Electric Company |
| Mechel PAO | Metro Pacific Investments Corporation | MidAmerican Energy Co. |
| MidAmerican Funding LLC | Mississippi Power Co. | Mitsui Matsushima Holdings Co., Ltd. |
| Monongahela Power Co. | Murray Energy Corporation | NACCO Industries, Inc. |
| NLC India Ltd. | NTPC Limited | Natural Resource Partners LP |
| Nava Limited | New Hope Corporation Limited | NiSource Inc. |
| NorthWestern Energy Group, Inc. | Northern Electric Finance Plc | Northern States Power Co. |
| OGE Energy Corp. | Odas Elektrik Uretim Sanayi Ticaret AS | Oglethorpe Power Corp. |
| Oklahoma Gas & Electric Co. | Old ANR LLC | Origin Energy Finance Ltd. |
| Origin Energy Limited | Otter Tail Corporation | PGE Polska Grupa Energetyczna SA |
| PGE Sweden AB | PPL Capital Funding, Inc. | PPL Corporation |
| PT ABM Investama Tbk | PT Adaro Indonesia | PT Alamtri Resources Indonesia Tbk |
| PT Alfa Energi Investama Tbk | PT Astra International Tbk | PT Bayan Resources Tbk |
| PT Berau Coal Energy | PT Bukit Asam Tbk | PT Bumi Resources Tbk |
| PT Cikarang Listrindo Tbk | PT Dian Swastatika Sentosa Tbk | PT Golden Eagle Energy Tbk |
| PT Golden Energy Mines Tbk | PT Harum Energy Tbk | PT Indika Energy Tbk |
| PT Indo Tambangraya Megah Tbk | PT MNC Asia Holding Tbk | PT Perusahaan Listrik Negara (Persero) |
| PT Petrindo Jaya Kreasi Tbk | PT TBS Energi Utama Tbk | PT Timah Tbk |
| PT Trada Alam Minera Tbk | PT United Tractors Tbk | PacifiCorp |
| Park Elektrik Uretim Madencilik Sanayi ve Ticaret AS | Peabody Energy Australia PCI Pty Ltd. | Peabody Energy Corporation |
| Perennial Energy Holdings Limited | Petmin Ltd. | Petrovietnam Power Corp. |
| Pingdingshan Tianan Coal Mining Co., Ltd. | Pinnacle West Capital Corporation | Portland General Electric Company |
| Power Assets Holdings Limited | Public Power Corp. Finance Plc | Public Power Corp. SA |
| Public Service Company of Colorado | Public Service Company of New Mexico | Puget Energy, Inc. |
| Puget Sound Energy, Inc. | RATCH Group Public Co., Ltd. | RWE AG |
| RWE Finance US LLC | RattanIndia Power Limited | Refrigeration Electrical Engineering Corp. |
| Reliance Infrastructure Limited | Reliance Power Limited | Rhino Resource Partners LP |
| SCANA Corp. | SDIC Power Holdings Co., Ltd. | SGC Energy Co., Ltd. |
| SPIC 2016 US Dollar Bond Co. Ltd. | SPIC 2018 USD Senior Perpetual Bond Co. Ltd. | SPIC Industry-Finance Holdings Co., Ltd. |
| SPIC Luxembourg Latin America Renewable Energy Investment Co. | STEAG GmbH | Sadovaya Group |
| Sakari Resources Ltd. | Salungano Group Ltd. | Samruk-Energy JSC |
| San Miguel Corporation | San Miguel Global Power Holdings Corp. | Sarda Energy & Minerals Limited |
| Semirara Mining & Power Corp. | Shaanxi Coal Industry Co., Ltd. | Shaanxi Energy Investment Co., Ltd. |
| Shan Xi Hua Yang Group New Energy Co. Ltd. | Shandong Energy Group Co., Ltd. | Shanghai Datun Energy Resources Co., Ltd. |
| Shanghai Electric Power Co., Ltd. | Shanxi Coal International Energy Group Co., Ltd. | Shanxi Coking Coal Energy Group Co., Ltd. |
| Shanxi Lanhua Sci-Tech Venture Co., Ltd. | Shanxi Lu'An Environmental Energy Development Co., Ltd. | Shenergy Co., Ltd. |
| Shenzhen Energy Group Co., Ltd. | Shikoku Electric Power Co., Inc. | Sierra Pacific Power Co. |
| SouthGobi Resources Ltd. | Southern Kuzbass Coal Co. PJSC | Southwestern Electric Power Co. |
| Southwestern Public Service Co. | State Power Investment Corp., Ltd. | Stronghold Digital Mining, Inc. |
| Sunpower Group Ltd. | TAURON Polska Energia SA | TBEA Co., Ltd. |
| TCC Group Holdings CO., LTD. | TNB Global Ventures Capital Bhd. | TPI Polene Power Public Company Limited |
| TPI Polene Public Co. Ltd. | TXNM Energy, Inc. | Talen Energy Corporation |
| Talen Energy Supply LLC | Tenaga Nasional Berhad | Tennessee Valley Authority |
| TerraCom Limited | The AES Corporation | The Chugoku Electric Power Co., Inc. |
| The Hub Power Co. Ltd. | The Kansai Electric Power Co., Inc. | The Lanna Resources Public Co., Ltd. |
| The Okinawa Electric Power Co., Inc. | The Second Generation Co. of the Wholesale Power Market PJSC | The Southern Company |
| The Tata Power Company Limited | Thungela Resources Ltd. | Tohoku Electric Power Co., Inc. |
| Tokyo Electric Power Co. Holdings, Inc. | Top Frontier Investment Holdings, Inc. | Torrent Power Limited |
| TransAlta Corporation | Tucson Electric Power Co. | Union Electric Co. |
| Unipro PJSC | Vectren Corp. | Viesgo Infraestructuras Energeticas SL |
| Vimetco NV | Virginia Electric & Power Co. | Vistra Corp. |
| Vistra Operations Co. LLC | WEC Energy Group, Inc. | WHA Utilities and Power Public Company Limited |
| Washington H. Soul Pattinson and Company Limited | Westmoreland Coal Co. | Westmoreland Resource Partners LP |
| Whitehaven Coal Limited | Wintime Energy Group Co., Ltd. | Wisconsin Electric Power Company |
| Wisconsin Power & Light Co. | Wisconsin Public Service Corp. | Wollongong Coal Limited |
| Xcel Energy Inc. | Xinjiang Guanghui Industry Investment (Group) Co., Ltd. | Yancoal Australia Ltd. |
| Yancoal International Resources Development Co., Ltd. | Yankuang Energy Group Co., Ltd. | Yankuang Group (Cayman) Ltd. |
| Zhejiang Zheneng Electric Power Co., Ltd. | Zhengzhou Coal Industry & Electric Power Co., Ltd. |
Tar sands
| Athabasca Oil Corporation | Baytex Energy (LP) Ltd. | Baytex Energy Corp. |
| CK Hutchison Capital Securities (17) Ltd. | CK Hutchison Capital Securities (Europe) Ltd. | CK Hutchison Europe Finance (18) Ltd. |
| CK Hutchison Europe Finance (21) Ltd. | CK Hutchison Finance (16) (II) Ltd. | CK Hutchison Finance (16) Ltd. |
| CK Hutchison Group Telecom Finance SA | CK Hutchison Holdings Limited | CK Hutchison International (16) Ltd. |
| CK Hutchison International (17) II Ltd. | CK Hutchison International (17) Ltd. | CK Hutchison International (19) (II) Ltd. |
| CK Hutchison International (19) Ltd. | CK Hutchison International (20) Ltd. | CK Hutchison International (21) Ltd. |
| Canadian Natural Resources Limited | Cenovus Energy Inc. | Cerro Negro Finance Ltd. |
| Ecopetrol SA | Freehold Royalties Ltd. | Harvest Operations Corp. |
| Hutchison Whampoa Europe Finance (12) Ltd. | Hutchison Whampoa Europe Finance (13) Ltd. | Hutchison Whampoa Finance (03/13) Ltd. |
| Hutchison Whampoa Finance (05) Ltd. | Hutchison Whampoa Finance (06) Ltd. | Hutchison Whampoa Finance (09) Ltd. |
| Hutchison Whampoa Finance (14) Ltd. | Hutchison Whampoa Finance (CI) Ltd. | Hutchison Whampoa Finance UK Plc |
| Hutchison Whampoa International (03/33) Ltd. | Hutchison Whampoa International (09) Ltd. | Hutchison Whampoa International (09/16) Ltd. |
| Hutchison Whampoa International (09/19) Ltd. | Hutchison Whampoa International (10) Ltd. | Hutchison Whampoa International (11) Ltd. |
| Hutchison Whampoa International (12) Ltd. | Hutchison Whampoa International (14) Ltd. | Hutchison Whampoa International 12 II Ltd. |
| Imperial Oil Limited | MEG Energy Corp. | North West Redwater Partnership, Inc. |
| PC Financial Partnership | Pengrowth Energy Corporation | Petroleos de Venezuela SA |
| Sonoro Energy Ltd. | Strata Power Corp. | Strathcona Resources Ltd. |
| Suncor Energy Inc. | Sunshine Oilsands Ltd. |
Peat-fired power generation
| Neova Oy |
