Chevron Corporation

Noble Energy, PDC Energy, Texaco, Renewable Energy Group
San Ramon, California
Energy

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Chevron Corp scored a 100 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, the company increases the risk of dividing employees, alienating customers and harming shareholders. The company provides a benefits package for employees which covers transgender medical procedures for covered employees and dependents, including children. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Chevron 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. Chevron is a signatory of the Gender & Diversity KPI Alliance, appearing to prioritize diversity over merit in its business structure through the establishment of gender and racial targets for its leadership composition and its support of DEI in its hiring and promotions. The company pledged $15 million to BLM and related causes. Chevron allegedly funds Planned Parenthood. Chevron and Noble Energy are signatories of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional shareholder obligations. Chevron is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race. The company is a silver sponsor of the HRC, a copper sponsor of Out & Equal, and a corporate partner of the NGLCC. For these reasons, Chevron receives a High Risk rating.

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Board Bias

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CEO of Chevron Corporation

Michael K. Wirth

Michael K. Wirth

Summary:

Headquartered in San Ramon, California, Chevron Corporation is a member of the Fortune 250 operating in the Energy industry. Michael K. Wirth and Michael K. Wirth serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $576,550 to Republican causes and $214,450 to Democratic causes. Under their tenure, Chevron Corporation currently holds a 'High Risk' risk rating.

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Political Contributions of Leadership:

$576,550

$214,450

Republican

Democrat

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/31/23GovernanceNewground Social InvestmentAdopt a Policy Requiring Chairman to be an Independent MemberAgainst19.90%
5/31/23EnvironmentalUnited SteelworkersReport on Worker and Community Impact from Facility Closures and Energy TransitionsAgainst18.60%
5/31/23EnvironmentalAs You SowDisclose a Recalculated Emissions BaselineAgainst18.30%
5/31/23GovernanceOxfam AmericaReport on Tax PracticesAgainst14.60%
5/31/23SocialAmerican Baptist Home Mission SocietyReport on Racial Equity AuditAgainst9.80%
5/31/23EnvironmentalFollow ThisAdopt Goals/Reduce Scope 3 GHG EmissionsAgainst9.60%
5/31/23EnvironmentalDavid BahnsenEstablish Board on Decarbonization RiskAgainst1.60%
5/31/23EnvironmentalSteven MilloyRescind 2021 Proposal to Reduce Scope 3 EmissionsAgainst1.30%
5/25/22EnvironmentalHermes Equity Ownership Services Ltd.Report on Reliability of Methane Emission DisclosuresFor98.00%
5/25/22SocialInvestor Advocates for Social JusticeRacial Equity AuditAgainst47.50%
5/25/22EnvironmentalAs You SowReport on Impacts of Net-zero 2050 ScenarioAgainst38.70%
5/25/22EnvironmentalFollow ThisAdopt Medium- & Long-term GHG Reduction TargetsAgainst32.60%
5/25/22GovernanceNewground Social InvestmentSpecial Meetings - Reduce Ownership Req. to 10%Against27.40%
5/25/22SocialUnitarian Universalist Assoc.Report on Adopting Policy of Not Doing Business with Governmentsts Complicit in GenocideAgainst12.40%
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