Corprate Bias Ratings
Walmart vets vendors according to LGBTQ policies, is part of the Global Alliance for Responsible Media, and does not provide its employees with protections against viewpoint discrimination, but has not publicly terminated business relationships based on views or beliefs. Walmart discriminates against religious organizations in its charitable giving and uses its corporate reputation and funds to advance ideological causes and groups hostile to freedom of expression. Walmart is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. Walmart has donated to ideologically focused PAC's not in accordance with business interests. However, Walmart has withstood activist pressure on some issues, including abortion and firearms policy. For these reasons, Walmart 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.
While Walmart raised the limit to purchase a firearm to 21, the company has not bowed to pressure to entirely stop selling firearms, nor has it used its institutional might to force changes on the firearm industry, as a New York Times contributor publicly requested (1)(2). Walmart 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” (3)(4)(5). The company received a score of 100 on the Corporate Equality Index from the Human Rights Campaign. Among other requirements, this means Walmart has pledged to vet vendors based on LGBTQ policies (6).
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
Walmart opposed an important Arkansas religious freedom bill in 2015. It regularly promotes LGBTQ Pride Month with statements, social media posts, and apparel sold in the stores and online (1)(2)(3). These items include clothing and books for children. Walmart also promotes critical race theory training for “inclusive leadership” (4). Walmart has implemented ESG practices into its business, including unconscious bias training and a 2040 net-zero pledge (5). However, Walmart did stand up to shareholder activists pushing for the company to focus its time, attention, and money on abortion policy (6). CEO Doug McMillon is a member of the Business Roundtable and signed its 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders and customers (7)(8). Walmart CEO Doug McMillion is a signatory of the CEO Action for Diversity and Inclusion pledge (9).
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
Walmart is a member of the Global Alliance for Responsible Media (1)(2)(3). The company has given to numerous ideological groups hostile to free expression, including PolicyLink, an organization focused on “racial equity” through promoting the tenets of critical race theory in the corporate world (4)(5). Walmart’s grant “helps support the launch of the Racial Equity through Corporate Actions Initiative, which will drive the creation and adoption of corporate standards on racial equity that will be freely available to companies” (6)(7). Walmart also funds PFLAG and Love Has No Labels (8). Walmart is a Bronze sponsor of Out and Equal (9). After the overturning of Roe v. Wade, Walmart announced that it would expand its medical benefits to cover abortion-related travel expenses. However, in contrast to other companies, Walmart will only fund abortions in the case of sexual assault, incest, or a significant health risk to the mother (10). Walmart has a perfect score on the HRC’s 2022 Corporate Equality Index. This score indicates the company covers the cost of “medically necessary transition-related care” for its employees and their children (11)(12).
All links were last accessed and all information was updated on:
November 30, 2023
Company reports are intended for educational use only. Full Disclaimer
|Date||ESG Category||Proponent||Summary of Resolution||Mgmt Rec||Total Vote % in Favor|
|5/31/23||Governance||Cynthia Murray||Workplace Safety and Violence Review||Against||23.80%|
|5/31/23||Social||Organization United for Respect||Racial Equity Audit||Against||18.10%|
|5/31/23||Social||Oxfam America||Prepare a Report on Walmart's Human Rights Due Diligence||Against||5.80%|
|5/31/23||Governance||James McRitchie||Request to Require Shareholder Approval of Certain Future Bylaw Amendments||Against||5.70%|
|5/31/23||Social||Clean Yield Asset Management||Report on Reproductive Rights and Data Privacy||Against||5.20%|
|5/31/23||Governance||Franciscan Sisters of Perpetual Adoration||Create a Policy to Align Executive Compensation with Worker Pay||Against||4.30%|
|5/31/23||Social||National Center of Public Policy Research||Racial and Gender Layoff Diversity Report||Against||1.50%|
|5/31/23||Social||National Legal and Policy Center||Communist China Risk Audit||Against||1.30%|
|6/1/22||Social||Humane Society of the U.S.||Report on Animal Welfare Polices and Practices in Food Supply Chain||Against||16.39%|
|6/1/22||Social||Zevin Asset Mgmt.||Report on Lobbying Payments and Policy||Against||14.40%|
|6/1/22||Social||Franciscan Sisters of Perp. Adoration||Report on Alignment of Racial Justice Goals and Starting Wages||Against||13.19%|
|6/1/22||Social||Clean Yield Asset Mgmt.||Report on Impacts of Reproductive Healthcare Legislation||Against||12.78%|
|6/1/22||Governance||Cynthia Murray||Create a Pandemic Workforce Advisory Council||Against||12.53%|
|6/1/22||Social||National Legal and Policy Center||Report on Charitable Contributions||Against||0.98%|
|6/1/22||Social||National Center for Public Policy Research||Report on Civil Rights and Non-Discrimination Audit||Against||0.56%|
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