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.
Civeo Corporation operates a large-scale workforce accommodation business, providing lodging services primarily to remote resource extraction sites in Canada and Australia. Its business model is built on housing workers in isolated, company-controlled camps where they live for extended rotations. This structure creates captive environments where animal exploitation can occur systematically out of public view.
While specific documented incidents of animal cruelty at Civeo camps are not publicly available in the cited sources, the company’s operations facilitate industries—notably mining and oil sands extraction—that are directly linked to habitat destruction and large-scale harm to wildlife. The company’s 2024 10-K states its purpose is to allow customers to “outsource their accommodations needs to a single supplier,” thereby enabling these extractive operations to function in remote regions. Academic research on such work camps in Canada’s oil sands region, referenced in the evidence, links these isolated living environments to heightened social ills, including substance abuse. This context is relevant as such conditions can correlate with increased incidents of violence, including toward animals.
The exclusion is based on Civeo’s integral role in supporting extractive industries that cause widespread animal harm and on the inherent risks of animal exploitation within the closed, company-town environments it operates. No company policy or public commitment regarding animal welfare in or around its lodges could be identified.
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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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