This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Abbott Laboratories is a global healthcare company whose pharmaceutical and medical device development requires animal testing for regulatory compliance and product safety validation. The company has faced shareholder pressure to increase transparency around its animal use. In 2010, Abbott successfully petitioned the SEC to exclude a shareholder proposal requesting the company detail its animal use and reduction efforts in its annual Global Citizenship Report. The SEC’s Division of Corporation Finance granted Abbott’s request to omit the proposal, finding there was basis to exclude it as substantially duplicative of a prior proposal. This action prevented a shareholder vote on increased transparency regarding Abbott's animal testing practices.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.