TransUnion
TRU
Industrials
2
exclusion reasons
2 themes
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.
TransUnion operates in eight African countries, including regions with active conflict zones. The company provides consumer credit reporting and data analytics services globally. No affirmative evidence was found in the provided materials that TransUnion’s operations in these areas are limited to providing essential civilian services, such as being the sole source of critical infrastructure, which would be necessary to avoid exclusion under this policy. The available documentation does not detail the nature or impact of its activities in these conflict-affected regions.
Surveillance capitalism (Zuboff): TransUnion — credit bureau with TruAudience marketing data division; acquired Neustar for $3.1B (Dec 2021) adding identity resolution and behavioral targeting to credit data
Related Issues
Surveillance Capitalism
Surveillance capitalism is extraction without consent — behavioral data harvested from people whose agreement was buried in terms they couldn't negotiate and can't revoke. We exclude companies whose revenue depends on this, and hold a high bar for any tech company where surveillance is a meaningful input. Until users can control, audit, and delete their data, this stays a core exclusion.
Palestine & Occupied Territories
We exclude companies that profit from Israel's occupation of Palestinian territories — settlement construction, military technology, surveillance infrastructure, discriminatory resource arrangements. The ICJ ruled this occupation unlawful in 2024. We don't wait for political resolution to stop funding what international law has condemned.
Research Sources
11 organizations
Related Exclusions
Wondering what we do invest in?
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.