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.
SunOpta Inc. is a U.S.-based global pioneer fueling the future of sustainable, plant-based and fruit-based foods and beverages. However, the company also sells products that contain animal products, such as chicken broth, and manufactures animal feed made from corn and wheat. This commercial involvement in animal agriculture, a system inherently linked to large-scale animal exploitation, places the company within the scope of this exclusion category. The company's own annual reports identify "animal welfare concerns" as a material business risk, acknowledging that failure to anticipate and respond to such concerns could adversely affect its operations. While SunOpta is frequently highlighted as a top stock for investment in the growing plant-based sector, its operations remain materially connected to conventional animal sourcing.
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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.