Visa

San Francisco, California
Diversified Financials

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Visa has terminated business relationships due to political beliefs with The David Horowitz Freedom Center after the SPLC labeled it as a hate group. Visa scored a 100 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Visa increases the risk of dividing employees, alienating customers and harming shareholders. The company provides a benefits package for employees which covers transgender medical procedures for covered employees and dependents, including children. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Visa 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’s Executive Chairman Alfred F. Kelly signed Catalyst's Champions for Change pledge, indicating its support of DEI in its leadership composition through the establishment of gender and racial targets. Visa is a signatory of the Gender & Diversity KPI Alliance, appearing to prioritize diversity over merit in its business structure through the establishment of gender and racial targets for its leadership composition and its support of DEI in its hiring and promotions. The company supports the Equality Act, a controversial bill and utilizes a new product code for legal firearms, allowing for the potential tracking of legal gun purchases. Visa’s CEO is a member of the Business Roundtable and signed the 2019 Statement on the Purpose of a Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders. The company’s former CEO, Alfred F. Kelly, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace. Visa pledged over $15 million to the Black Lives Matter movement and related causes, including the ACLU and the National Urban League. The company is a Bronze sponsor of the HRC, a copper sponsor of Out & Equal, and a corporate partner of the NGLCC. Visa is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race. The company is a member of the Global Alliance for Responsible Media, which aims to demonetize advertisements and suppress content that “vilifies” individuals based on sexual orientation and gender identity, discusses “debated social issues in a negative or partisan context” or spreads “hate speech”. Visa donated to the Equality PAC and lobbied for the Equality Act. For these reasons, Visa receives a High Risk rating.

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Board Bias

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CEO of Visa

Alfred F. Kelly, Jr.

Alfred F. Kelly, Jr.

Summary:

Headquartered in San Francisco, California, Visa is a member of the Fortune 250 operating in the Diversified Financials industry. Alfred F. Kelly, Jr. and Alfred F. Kelly, Jr. 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 $211,900 to Republican causes and $305,141 to Democratic causes. Under their tenure, Visa currently holds a 'High Risk' risk rating.

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Political Contributions of Leadership:

$211,900

$305,141

Republican

Democrat

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
4/27/23SocialMyra K. YoungThe stockholder proposal regarding pay equity disclosure.Against34.81%
1/23/24GovernanceJohn CheveddenShareholder Ratification of Termination PayAgainst5.1%
1/24/23GovernanceNational Legal and Policy CenterIndependent Board ChairAgainst17.40%
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