Berkshire Bank

Berkshire Hills Bancorp
Massachusetts
Banks

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Berkshire Bank scored a 90 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Berkshire Bank increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Berkshire is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices. The company forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Berkshire is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices. The bank implements unconscious bias training for its employees. Berkshire Bank opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. The bank signed an open letter in support of the Equality Act and was part of the Freedom for All Americans coalition, which advocated for federal legislation that would overrule state laws designed to protect girls' sports and similar laws. Berkshire Bank’s CEO, Nitin J. Mhatre, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace. For these reasons, Berkshire Bank earns a High Risk rating.

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Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/4/24SocialMeredith BentonGreater Disclosure of Material Corporate DiversityAgainst20.35%
5/4/24GovernanceSegal Marco AdvisorsForm a Railroad Safety CommitteeAgainst3.56%
5/4/24EnvironmentalNational Center for Public Policy ResearchGoal to reach GHG emissions by 2050Against0.78%
5/4/24SocialNational Legal and Policy CenterShareholder Proposal Concerning a Report on Operations in ChinaAgainst1.39%
5/4/24EnvironmentalAs You SowClimate-Related Transition PlanningAgainst20.75%
5/4/24EnvironmentalMichael FrerichsDisclose and Reduce GHG EmissionsAgainst17.53%
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