The Walt Disney Company
DIS
Communication Services
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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.
The Walt Disney Company operates theme parks and produces films that incorporate live animals for entertainment purposes. Its parks feature animal-based attractions, and its film productions have a documented history of using animal actors and imagery tied to animal exploitation.
Specific incidents highlight this pattern. In 2013, Disney's film "The Hundred Year Old Man" was condemned for its use of abused animals. A 2016 report on animals in entertainment cited frequent violations of the Animal Welfare Act associated with the industry. Academic analysis has also critiqued depictions of animal abuse within Disney's animated film catalog spanning decades.
While the company has public animal welfare policies, its core business model continues to rely on the commercial use of animals for entertainment revenue.
Research Sources
1 organization
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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.