HSBC Holdings

HSBC Bank
United Kingdom
Banks, Diversified Financials

Corporate Bias Rating

Expand Summary

Risk Level:

Rating - Danger
High Risk

Summary:

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 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, HSBC 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. 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 provides employees training on allyship and unconscious bias. The company is a PCAF member, committed to carbon neutrality by 2050 and is a signatory of Climate Action 100+. 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. HSBC’s CEO, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace. The company has previously been a platinum sponsor of the World Pride event in New York City. HSBC is a Silver sponsor of Out and Equal. For these reasons, HSBC receives a High Risk rating.

View Full Corporate Bias Ratings Report
Generate Reports
Clear
Toast