Corprate Bias Ratings
Principal Financial, an insurance and investment company, vets vendors for LGBTQ policies and does not provide viewpoint protections for its employees. However, it 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. Principal Financial frequently uses its reputation and corporate funds to support gender ideology. The company is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. However, it does not discriminate against religious organizations in its charitable giving and has not lobbied ideological purposes. For these reasons, Principal Financial receives a Medium 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.
Principal Financial received a score of 100 on the Human Rights Campaign’s (HRC) Corporate Equality Index. Among other requirements, this means Principal Financial has pledged to vet vendors based on LGBTQ policies (1)(2). However, it has not publicly fired customers, suppliers, or vendors based on political views or religious beliefs.
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
Principal Financial does not discriminate against religious organizations in its employee matching. However, it will only match donations to religious organizations that provide non-sectarian services (1). It focuses its charitable donations on groups that primarily help with financial security and stability (2).
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
Principal Financial signed an open letter in support of the Equality Act (1). The company advocated against the Religious Freedom Restoration Act in Iowa (2). Its CEO signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace (3). CEO Daniel J. Houston 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 (4)(5).
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
Principal 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). It is also a corporate partner of the National LGBT Chamber of Commerce (3).
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December 5, 2023
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