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.
AGCO Corporation designs, manufactures, and distributes agricultural machinery and precision farming technology used in large-scale industrial animal agriculture. Its product portfolio includes feed production and handling equipment, manure management systems, and barn ventilation and heating systems that enable the operation of concentrated animal feeding operations (CAFOs). The company's core business is providing the capital equipment that underpins factory farming systems for poultry, swine, and dairy production.
AGCO's sustainability reports and public communications frame its role as enabling farmer efficiency and productivity, with no stated policies or commitments to phase out support for industrial animal confinement. Its "Farmer First" strategy and technological innovations are directed at intensifying production within the existing model of animal agriculture.
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The Naughty List
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.