Verizon
Corporate Bias Rating
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Risk Level:
Summary:
Verizon terminated its relationship with One America News Network (OANN). Verizon scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Verizon increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Verizon 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 provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. Verizon is part of the Global Alliance for Responsible Media. Verizon regularly funds Planned Parenthood. The company covers the cost of "medically necessary transition-related care” for its employees and their children. It pledged $17 million to BLM and related causes and is a Titanium Sponsor of the Human Rights Campaign (HRC). Verizon supports the Equality Act, transgender participation in female sports, and funds multiple LGBTQ organizations. The company integrates ESG into all of its business practices, requiring unconscious bias training and committing to carbon neutrality by 2035. Verizon is a Titanium partner of PFLAG. The company is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race. For these reasons, Verizon receives a High Risk rating.
Board Bias
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CEO of Verizon
Dan Schulman
Summary:
Headquartered in Basking Ridge, New York, Verizon is a member of the Fortune 250 operating in the Telecommunication Services industry. Dan Schulman and Hans Vestberg 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 $323,407 to Republican causes and $1,646,569 to Democratic causes. Under their tenure, Verizon currently holds a 'High Risk' risk rating.
Political Contributions of Leadership:
$323,407
$1,646,569
Republican
Democrat
Shareholder Proposals
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Date | ESG Category | Proponent | Summary of Resolution | Mgmt Rec | Total Vote % in Favor |
---|---|---|---|---|---|
5/7/24 | Social | NorthStar Asset Management Inc. Funded Pension Plan | Report on Eliminating Discrimination through Inclusive Hiring | Against | N/A |
5/25/23 | Social | NorthStar Asset Management Inc. | Report on hiring practices related to people with arrest or incarceration records | Against | 18.24% |
5/11/23 | Governance | Thomas M. Steed | Amend Senior Executive Clawback Policy | Against | 36.60% |
5/11/23 | Governance | Kenneth Steiner | Independent Chair of Board | Against | 29.00% |
5/11/23 | Governance | BellTel Retirees | Shareholder Ratification of Executive Severance Packages | Against | 11.30% |
5/11/23 | Governance | Trillium | Cease Political Contributions | Against | 6.00% |
5/11/23 | Governance | National Legal and Policy Center | Report on Government Content Takedown Requests | Against | 2.60% |
5/12/22 | Governance | Assoc. of BellTel Retirees | Shareholder Ratification of Executive Severance Packages | Against | 44.06% |
5/12/22 | Governance | Thomas Steed | Amend Senior Executive Compensation Clawback Policy | Against | 37.00% |
5/12/22 | Social | National Legal and Policy Center | Report on Charitable Contributions | Against | 5.68% |
5/12/22 | Social | Steven Milloy | Report on Operations in Communist China | Against | 4.50% |