BAYER AG
BAYN
Health Care
4
exclusion reasons
3 themes
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.
Bayer conducts animal testing across pharmaceutical and crop science divisions. The company's own FAQ confirms ongoing animal studies. Banned forced swim tests only after sustained PETA pressure.
Inherited Monsanto's Roundup (glyphosate) liability: 170,000+ cancer lawsuits, $7.25B class settlement (2026). Neonicotinoid pesticides linked to pollinator collapse. $2B+ in PCB waterway contamination settlements. Dicamba herbicide drift damaged 15M+ acres of neighboring crops.
EPA Clean Air Act settlement: $5.7M penalty for violations at Bayer CropScience agricultural chemical manufacturing. Bayer/Monsanto merger brought additional environmental liability including glyphosate and PCB contamination legacy.
Bayer subsidiary Cutter Biological sold HIV-contaminated Factor VIII blood products in the 1980s after withdrawing them from the US market, knowingly distributing to hemophiliacs in Asia and Latin America.
Research Sources
4 organizations
Related Exclusions
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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.