Prudential Financial

Newark, New Jersey
Insurance

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Prudential Financial 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, Prudential Financial 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. Prudential Financial 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 is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices. 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. Prudential introduced “cultural intelligence” training and unconscious bias training for its managers. The company’s Financial’s Chairman and CEO, Charles F. Lowrey, signed Catalyst's Champions for Change pledge, indicating its support of DEI in its leadership composition through the establishment of gender and racial targets. Prudential Financial is a signatory of the Gender & Diversity KPI Alliance, appearing to prioritize diversity over merit in its business structure through the establishment of gender and racial targets for its leadership composition and its support of DEI in its hiring and promotions. The company 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. Board members have also spoken out against state-level election security bills. Prudential is a Ceres Network Member, committed to net zero carbon emissions by 2040. The company opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. In the wake of backlash against DEI, Prudential Financial stopped mentioning DEI modifiers in pay its annual 10-K filing. The company said leaders will “continue to be accountable for maintaining” diversity and inclusion. Prudential's CEO, Charles F. Lowrey, Jr., 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 funded local LGBTQ advocacy groups and the Newark, New Jersey-based affiliate of the National Urban League. Prudential Financial is a copper sponsor of Out & Equal and a corporate partner of the National LGBT Chamber of Commerce. The company donated to the Equality PAC. For these reasons, Prudential Financial receives a High Risk rating.

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Board Bias

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CEO of Prudential Financial

Charles F. Lowrey

Charles F. Lowrey

Summary:

Headquartered in Newark, New Jersey, Prudential Financial is a member of the Fortune 250 operating in the Insurance industry. Charles F. Lowrey and Charles F. Lowrey serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $158,100 to Republican causes and $255,880 to Democratic causes. Under their tenure, Prudential Financial currently holds a 'High Risk' risk rating.

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Political Contributions of Leadership:

$158,100

$255,880

Republican

Democrat

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
6/11/24SocialTrinity HealthReport on the Potential Cost Savings Through the Adoption of a Smokefree Policy for Caesers Entertainment PropertiesAgainstN/A
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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