Lincoln National Corporation

Lincoln Financial Group
Pennsylvania
Insurance

Corprate Bias Ratings

Risk Level:

Rating - Caution
Medium Risk

Lincoln National Corporation, a holding company, vets vendors according to LGBTQ policies and does not provide its employees with protections against viewpoint discrimination. The company has not publicly terminated business relationships based on views or beliefs. Lincoln Financial covers the cost of "medically necessary transition-related care" for its employees and their children. The company is a corporate partner of the Human Rights Campaign (HRC) and utilizes ESG investing strategies, acknowledging that ESG can underperform and miss opportunities to maximize financial returns. Lincoln Financial discriminates against religious organizations in its charitable giving. However, the company has not used its PAC contributions for ideological purposes. For these reasons, Lincoln Financial Group receives a Medium Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

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.

Risk Level
Rationale

Lincoln National (including Lincoln Financial Group) received a score of 100 on the Corporate Equality Index from the HRC (1). Among other requirements, this means Lincoln Financial has pledged to vet vendors for LGBTQ policies (2). However, the company has not publicly fired customers, suppliers, or vendors based on political views or religious beliefs.

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

The Lincoln Financial Foundation focuses on human services, education, and financial wellness. The Foundation “in general does not fund religious organizations” (1). The company’s employee donation matching program does not match donations to religious organizations, among other eligibility requirements (2).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

Lincoln Financial does not provide viewpoint protections for its employees (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

Lincoln Financial Corporation has not supported ideological causes or policies (1).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

Lincoln Financial 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). Lincoln Financial is a Bronze Partner of the HRC (3). Lincoln Financial also utilizes ESG investing strategies with clients’ money (4). In its prospectus disclaimers, the company acknowledges that ESG investing “generally prohibits investment in certain types of companies, industries, and segments of the U.S. economy.” Thus this strategy “may (i) miss opportunities to invest in companies, industries, or segments of the U.S. economy that are providing superior performance relative to the market as a whole and (ii) become invested in companies, industries, or segments of the U.S. economy that are providing inferior performance relative to the market as a whole” (5).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

Lincoln Financial has not used its political contributions for ideological purposes (1)(2).

All links were last accessed and all information was updated on:
November 28, 2023

Company reports are intended for educational use only. Full Disclaimer

Voting History

Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/25/23GovernanceKenneth SteinerIndependent Board ChairAgainst46.40%
5/25/23GovernanceJohn CheveddenShareholder Ratification of Termination PayAgainst15.70%
5/27/22GovernanceJohn CheveddenSubmit Severence Agreement to Shareholder VoteAgainst49.17%
5/27/22GovernanceKenneth SteinerRequire Independent Board ChairAgainst27.26%
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