Exclusions

Companies that breach DNB’s standard for responsible investments, and that do not show a willingness to change, may be excluded from our investment remit.

Updating the exclusion list

The list is updated regularly and was last updated:

23.05.2025

Standard-based exclusions

Product-based exclusions

Excluded companies as of 23.05.2025 (Excel)

The Excel list only applies to equity investments.