Coca-Cola Consolidated, Inc.
COKE
Consumer Staples
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exclusion reason
1 theme
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.
Coca-Cola Consolidated, Inc., a major bottler and distributor of Coca-Cola products, is a co-owner of Fairlife, LLC, a dairy brand marketed on high-welfare claims. In 2022, Coca-Cola and its Fairlife partners paid $21 million to settle a class-action lawsuit alleging systemic animal abuse at Fairlife’s supplying farms. The litigation documented evidence of animal cruelty and environmental degradation at these facilities. A new class-action lawsuit filed in 2025 alleges continued animal welfare violations, asserting the claims are more egregious and the evidence more robust. The company’s ownership stake and ongoing litigation link it directly to commercial dairy operations with documented patterns of animal mistreatment.
Research Sources
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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.