Prudential Financial

New Jersey
Insurance

Corprate Bias Ratings

Risk Level:

Rating - Danger
High Risk

By complying with Human Rights Campaign's controversial demands, Prudential Financial 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. Prudential Finanical 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. The company uses its reputation to push gender ideology and requires its managers to take diversity training. Prudential funds multiple LGBTQ organizations and discriminates against some religious organizations through its employee matching program. The company is committed to carbon neutrality by 2040. Prudential Financial opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. For these reasons, Prudential receives a High 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

Prudential Financial received a score of 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits’ employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2). Prudential is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices (3)(4).

Criteria

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

Risk Level
Rationale

Prudential Financials HRC CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2).

Criteria

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

Risk Level
Rationale

Prudential Financials HRC 2023 CEI rating indicates the company forces employees to attend multiple, controversial trainings on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees and specific benefits guide with a comprehensive explanation of transgender services funded by the company (1)(2).

Corporate Governance and Public Policy
Criteria

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

Risk Level
Rationale

Prudential and some of its board members signed an amicus brief supporting the Supreme Court ruling affirming that gender identity is covered under the 1964 Civil Rights Act (1). Board members have also spoken out against state-level election security bills (2)(3). Prudential has signed the CEO Action for Diversity and Inclusion pledge (4). Internally, the company has also pledged to more heavily emphasize racial factors in its hiring strategies by instituting quotas and requiring hiring managers to undergo interview diversity training (5). Prudential is a Ceres Network Member, committed to net zero carbon emissions by 2040 (6)(7). The company opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces (8). Prudential Financials HRC 2023 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy (9)(10). By doing so, the company risks dividing employees, alienating customers and harming shareholders.

Criteria

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

Risk Level
Rationale

Prudential has funded local LGBTQ advocacy groups and the Newark, New Jersey-based affiliate of the National Urban League (1)(2)(3). Prudential is a copper sponsor of Out & Equal and a corporate partner of the National LGBT Chamber of Commerce (4)(5). Prudential’s HRC 2023 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology (6)(7). By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders.

Criteria

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

Risk Level
Rationale

Prudential‘s HRC 2023 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives (1)(2). By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders. Prudential has a history of donating in a bipartisan manner (3). Prudential has not used political donations for ideological purposes (4).

All links were last accessed and all information was updated on:
February 21, 2024

Company reports are intended for educational use only. Full Disclaimer

Voting History

Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
6/13/23GovernanceNew York State Common Retirement FundReport on Election SpendingAgainst40.67%
6/13/23GovernanceNew York State Common Retirement FundReport Each Director/Nominee’s Self-Identified Gender and Race/Ethnicity(Board Matrix)Against18.83%
5/9/23GovernanceJohn CheveddenIndependent Board ChairmanAgainst34.60%
5/10/22GovernanceJohn CheveddenProvide Right to Act by Written ConsentAgainst12.00%
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