Western Asset Management Co.

Corporate Bias Rating

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Risk Level:

Medium Risk

Summary:

Western Asset Managemen 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. Western Asset Managemen 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

Western Asset Management integrates ESG into all of its business practices. The company stated “we have been actively integrating ESG for many years, however, we’ve developed our own methodologies and work closely with issuers and clients to communicate transparently and improve our approach” (1). The company is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices (2)(3). However, Western Asset Management has not publicly fired customers, suppliers or vendors based on political views or religious beliefs (4).

Criteria

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

Risk Level

Rationale

Western Asset Management does not appear to discriminate against charitable organizations based on views or beliefs (1).

Criteria

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

Risk Level

Rationale

Western Asset Management offers DEI training to its employees (1). Western Asset Management does not provide viewpoint protections for its employees (2).

Corporate Governance and Public Policy

Criteria

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

Risk Level

Rationale

Western Asset Management is a member of Climate Action 100+, which aims to mainstream climate action among asset management companies (1)(2). The company’s former CEO, Bonnie Wongtrakool, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace (3)(4).

Criteria

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

Risk Level

Rationale

Western Asset Management has not used corporate funds to advance ideological causes, organizations, or policies (1)(2).

Criteria

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

Risk Level

N/A

Rationale

Western Asset Management does not operate a PAC at this time and has not lobbied 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.