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.
Balchem Corporation operates an Animal Nutrition & Health segment that develops and sells nutritional ingredients and solutions for animal feed. This business supplies additives designed to enhance the productivity of livestock in industrial agriculture systems, including dairy cattle, poultry, and swine. The segment is a core, reportable part of the company's operations alongside Human Nutrition and Specialty Products.
The company's stated policy permits animal testing when required for regulatory approval or to ensure safety. While its supplier Code of Conduct addresses human welfare, the available evidence does not detail specific animal welfare standards or commitments for the animals within its supply chain. The primary commercial focus of this segment is optimizing output, such as milk production efficiency in dairy cattle, which supports large-scale animal agriculture.
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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.
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