Corprate Bias Ratings
Goldman Sachs vets vendors according to LGBTQ policies, is part of the Global Alliance for Responsible Media, and does not provide its employees with protections against viewpoint discrimination, but has not publicly terminated business relationships based on views or beliefs. The company covers the cost of "medically necessary transition-related care" for its employees and their children. The company was banned in Texas from doing business with the state for violating Texas' law against boycotting the energy and gun manufacturing industries. Goldman Sachs has funded Planned Parenthood and the Human Rights Campaign (HRC). Goldman Sachs pledged $10 million to BLM and related causes and supports and funds LGBTQ causes and organizations. It also opposes state efforts to reform their own elections and is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. Goldman Sachs is part of Glasgow's Net Zero Alliance and a signatory of Climate Action 100+, committed to carbon neutrality by 2050. For these reasons, Goldman Sachs receives a "High Risk" rating.
Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.
Goldman will also only work with American companies on their IPO if they have “at least one diverse board member” (1). Goldman Sachs was banned under Texas law from doing business with the state due to violating its energy boycott law (2)(3). Goldman Sachs is a member of the Global Alliance for Responsible Media, which aims to demonetize advertisements and suppress content that “vilifies” individuals based on sexual orientation and gender identity, discusses “debated social issues in a negative or partisan context” or spreads “hate speech” (4)(5)(6). The company received a score of 100 on the Corporate Equality Index. Among other requirements, this means the company has pledged to vet vendors based on LGBTQ policies (7).
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
Goldman Sachs will not match employee donations to religious organizations “except when the activities being sponsored by a religious organization are nonsectarian, such as soup kitchens or shelters” (1).
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
Goldman Sachs signed open letters in support of the Equality Act and opposing the Georgia voting reform law (1)(2). The investment bank also implemented a diversity rule whereby it would only take companies public that had “at least one diverse board candidate,” (3). Goldman Sachs is part of the Net Zero Banking Alliance, committed to carbon neutrality by 2050 (4). Goldman Sachs is a signatory of Climate 100+ (5). Goldman Sachs CEO David Solomon is a member of the Business Roundtable and signed its 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders and customers (6)(7).
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
Goldman Sachs has a perfect score on the HRC’s 2022 Corporate Equality Index. This score indicates the company covers the cost of “medically necessary transition-related care” for its employees and their children (1)(2). Goldman Sachs provides employee travel reimbursements for abortions and gave to Planned Parenthood through its charitable foundation (3)(4). Goldman Sachs is a member of the Global Alliance for Responsible Media and a silver partner of the HRC (5)(6)(7)(8). Goldman Sachs also pledged $10 million to the Black Lives Matter movement and related causes (9)(10). Goldman Sachs is a brass sponsor of Out & Equal and a corporate partner of the National LGBT Chamber of Commerce (11)(12).
All links were last accessed and all information was updated on:
November 29, 2023
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|Date||ESG Category||Proponent||Summary of Resolution||Mgmt Rec||Total Vote % in Favor|
|4/26/23||Governance||John Chevedden||Lobbying Report||Against||35.30%|
|4/26/23||Social||James McRitchie||Report on Pay Equity||Against||30.10%|
|4/26/23||Environmental||Mack Street 2016 Trust, care of As You Sow, together with co-filer Debriana Berlin Rev Tr and co-filer United Church Funds||Report on Climate Transition Planning||Against||29.90%|
|4/26/23||Governance||National Legal and Policy Center||Independent Board Chair||Against||16.20%|
|4/26/23||Environmental||New York City Comptroller||Disclosure of 2030 GHG Reduction Goals||Against||12.90%|
|4/26/23||Social||Service Employees International Union Master Trust||Racial Equity Audit||Against||11.50%|
|4/26/23||Environmental||Sierra Club Foundation||Policy to Phase Out Fossil Fuel-Related Lending and Underwriting||Against||6.80%|
|4/26/23||Social||National Center for Public Policy Research||Report on Whether the Company's ETF's in China Align with Human Rights Commitments||Against||2.40%|
|4/28/22||Governance||John Chevedden||Special Meetings - Reduce Ownership Req. to 10%||Against||39.28%|
|4/28/22||Governance||National Legal and Policy Center||Require Independent Board Chair||Against||15.50%|
|4/28/22||Environmental||Sierra Club Foundation||Adopt a Financing Policy Consistant with IEA's Net-zero Emmissions by 2050||Against||11.19%|
|4/28/22||Social||National Center for Public Policy Research||Report on Charitable Contributions||Against||3.10%|
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