Standard Chartered - 1792 Exchange

Corprate Bias Ratings

Risk Level:

Lower Risk

Summary:

Standard Chartered vets vendors according to LGBTQ policies, but has not publicly terminated business relationships based on views or beliefs. The company provides its employees with protection against viewpoint discrimination and does not discriminate against religious organizations in its charitable giving. Standard Chartered signed onto in support of the Equality Act but does not use its corporate funds to advance ideological causes hostile to freedom of expression. For these reasons, Standard Chartered receives a Lower 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

Standard Chartered received a score of 100 on the Corporate Equality Index from the Human Rights Campaign (1). Among other requirements, this means the company has pledged to vet vendors based on LGBT policies (2). Standard Chartered “works with suppliers to meet its global environmental goals” and “encourages suppliers to set their own climate targets consistent with the Paris Agreement” (3). Standard Chartered will not work with companies that generate more than 5% of their earnings from thermal coal as part of the company’s efforts to fully integrate ESG considerations (4). Other affected industries include: Oil & Gas; Metals & Mining; Thermal Coal Mining; Power sectors. The company maintains that it works with clients in sensitive industries with certain caveats and qualifications (5)(6).

Criteria

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

Risk Level

Rationale

Standard Chartered does not discriminate against religious organizations in its charitable giving (1)(2).

Criteria

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

Risk Level

Rationale

Standard Chartered provides its employees with protection against viewpoint discrimination (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

Standard Chartered has signed onto an open letter in support of the Equality Act and is a corporate partner of the National LGBTQ+ Chamber of Commerce (1)(2). The bank promotes LGBTQ causes and identities (3).

Criteria

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

Risk Level

Rationale

Standard Chartered 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).

Criteria

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

Risk Level

N/A

Rationale

Standard Chartered does not operate a PAC at this time (1).

All links were last accessed and all information was updated on:
August 10, 2023

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