SVB Financial Group

California
Banks, Diversified Financials

Risk Level:

Rating - Danger
High Risk

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.

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 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.

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 protect its employees 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

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).

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 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).

Criteria

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

Risk Level
Rationale

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

All links were last accessed and all information was updated on:
March 24, 2023

Company reports are intended for educational use only. Full Disclaimer

Generate Reports
Clear
Toast