SVB Financial Group
Risk Level:
Summary:
SVB Financial Group has not terminated business relationships due to religious or political 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 donated to ideological groups hostile to freedom of expression, such as the American Civil Liberties Union (ACLU), and has publicly supported the work of Black Lives Matter (BLM). SVB does not have viewpoint protection for its employees. Prior to the bank's collapse, SVB pledged over $11 billion for ESG goals and incorporate DEI into all of its business operations. For these reasons, SVB Financial Group receives a High 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.
SVB Financial has no known instances of them firing customers, suppliers, or vendors for religious or political beliefs. SVB had a goal of being carbon neutral by 2025, including 100% renewable energy (1). The bank was also committed to multiple ESG disclosure frameworks that required net zero commitments.
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
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).
Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.
SVB Financial does not protect its employees against viewpoint discrimination (1).
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
Greg Becker, then CEO of SVB, signed onto a letter regarding racial injustice to show 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). SVB disclosed 4 different ESG frameworks (5).
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
SVB Financial Group donated over $73 million to BLM and related causes (1)(2) SVB, 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).
All links were last accessed and all information was updated on:
March 24, 2023
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