Baxter International

Hill-Rom
Illinois
Health Care Equipment and Services

Corporate Bias Rating

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Risk Level:

Rating - Caution
Medium Risk

Summary:

Baxter International often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. Baxter International occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

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Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

Baxter International received a score of 60 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2). However, the company has not publicly canceled business relationships based on political views or religious beliefs (3).

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

Baxter International’s HRC 2025 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2). The company does not appear to discriminate against religious organizations based on views or beliefs. Baxter International’s charitable giving focus areas are, “access to healthcare and addressing unmet community and STEM education needs” (3)(4).

Criteria

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level
Rationale

Baxter requires all employees to complete unconscious bias training. The company does not provide viewpoint protections for its employees (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

Baxter International’s CEO José Almeida is a member of the Business Roundtable and signed its 2019 Statement on the Purpose of a Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders (1)(2). The company is a Ceres Network Member, committed to carbon neutrality by 2040 (3)(4)(5). Baxter International’s CEO, Joe E. Almeida, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace (6)(7).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

Baxter International’s HRC 2025 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (1)(2). In 2020, the HRC listed Baxter as a supporter of its Report on Discrimination of Black LGBTQ people (3). Baxter has also pledged over $6 million to the Black Lives Matter movement and related causes (4)(5). The company is a corporate partner of the National LGBT Chamber of Commerce (6).

Criteria

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level
Rationale

Baxter International has not used its PAC donations or lobbying for ideological purposes (1)(2)(3).

Board Bias

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1792 Exchange has not yet compiled data about the board of directors or political contributions of leadership for this company.

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/2/23GovernanceJohn CheveddenRequire Executives to Retain Significant StockAgainst31.20%
5/2/23GovernanceKenneth SteinerRequire Shareholder Approval of Termination PayAgainst9.70%
5/3/22GovernanceJohn CheveddenSpecial Meetings - Reduce Ownership Req. to 10%Against34.88%
5/3/22GovernanceKenneth SteinerIndependent Board ChairAgainst22.73%
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