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.
Neogen Corporation develops, manufactures, and markets a range of products designed for the large-scale confinement and slaughter of animals in industrial agriculture. Its product portfolio includes equipment and consumables for the meat, poultry, and aquaculture industries, such as animal restraint systems, stunning equipment, and slaughterhouse sanitation products. The company’s business model is intrinsically linked to the commercial exploitation of animals at an industrial scale.
Cruelty Free Investors flags Neogen for its role in producing equipment designed to harm animals at scale. The company’s veterinary and food safety divisions supply tools and chemicals used in factory farming and processing operations. This commercial activity falls under the broad category of animal exploitation, as the products facilitate systems where animals are treated as commodities within high-volume production lines.
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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.