In April 2024, West Virginia placed HSBC on its Restricted Financial Institutions List for its “boycott of energy companies” according to its ESG policies and publicly available statements. HSBC, an American bank, suspended an executive over his criticism of the company's tendency to "exaggerate" climate risks when investing. The executive later quit. HSBC scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, HSBC increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. HSBC 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. HSBC opposed the Florida Parental Rights in Education Act, which would prohibit teaching gender identity and sexual orientation to kids in K-3rd grade. The company opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. For these reasons, HSBC receives a High Risk rating.