SVB Financial Group

Boston Private Financial Holdings
California
Banks, Diversified Financials

Corprate Bias Ratings

Risk Level:

Rating - Danger
High Risk

SVB Financial Group has not publicly terminated business relationships based on views or beliefs. However, the company has set net zero goals, including 100% renewable energy sources, that make it unlikely the company would do business with traditional energy groups. SVB pledged support to BLM and related causes and does not protect its employees against viewpoint discrimination. Prior to the bank's collapse, SVB pledged over $11 billion for ESG goals and incorporated DEI into all of its business operations. The company denounced various states’ legislative efforts to protect election integrity and security. For these reasons, SVB Financial Group 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

SVB Financial 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

SVB Financial will not match employee donations to churches or religious organizations. Religious organizations are ineligible “unless the donation is designated to a secular community service program like a homeless shelter or a soup kitchen which does not advance a specific religious view” (1).

Criteria

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

Risk Level
Rationale

SVB 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

Greg Becker, then CEO of SVB, signed a letter regarding racial injustice in support for BLM and NAACP (1). Prior to its downfall, SVB supported ESG principles and reporting standards (2). As part of its ESG strategy, SVB supported DEI initiatives within the firm (100% of employees underwent DEI education) and the clients and suppliers it supported (3). SVB supported multiple initiatives for LGBTQ+, Black, and Latinx entrepreneurs and investors (4). The company disclosed 4 different ESG frameworks (5). SVB had a goal of being carbon neutral by 2025, including 100% renewable energy (6). The company denounced various states’ legislative efforts to protect election integrity and security (7).

Criteria

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

Risk Level
Rationale

SVB Financial Group donated over $73 million to Black Lives Matter and related causes (1)(2). The company, prior to its collapse in 2023, pledged $5 billion to ESG priorities (3). In 2021, SVB pledged $11.2 billion to a Community Benefits Plan as part of its ESG goals (4). Through a specific gift-matching program, SVB Financial Group has donated to the ACLU and the National Urban League (5). SVB’s health benefits packaged covered transgender reassignment surgery (6).

Criteria

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

Risk Level
Rationale

SVB Financial Group has not used its PAC donations or lobbied for ideological purposes (1)(2)(3).

All links were last accessed and all information was updated on:
March 8, 2024

Company reports are intended for educational use only. Full Disclaimer

Voting History

Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
4/21/22SocialTrillium Asset ManagementReport on Third-Party Racial Justice AuditAgainst34.00%

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