Allete, Inc. - 1792 Exchange

Rating Overview

Allete, Inc. is Medium Risk.

Allete, Inc. is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company elevates merit, excellence, and integrity ahead of race and identity-based policies. The company occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	Lower Risk
Employment Protection	Medium Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	Lower Risk
Political Actions	Lower Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled 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:

Medium

Rationale:

Allete integrates ESG into its business practices. From its 2025 Corporate Responsibility Report: “Environmental, reliability and
safety metrics have been incorporated into
AIP performance goals for more than 15 years” (1). However, the company has not canceled customers, suppliers, or vendors based on political views or religious beliefs (2).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

Lower

Rationale:

Allete does not appear to discriminate against charitable organizations based on views or beliefs (1).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

Medium

Rationale:

Allete does not provide viewpoint protections for its employees (1).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Allete supports ESG within its business practices. From its 2023 Corporate Sustainability Report: “The Corporate Governance and Nominating
Committee oversees the reporting of ESG
matters and address ESG topics on at least a
quarterly basis” (1). The company supports DEI within its business practices. From its 2025 Corporate Sustainability Report: “We respect and value
individuals and their differences, and we embrace diversity, equity, and inclusion in the workplace” (2).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

Lower

Rationale:

Allete has not used corporate funds to advance ideological causes, organizations, or policies (1).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

Lower

Rationale:

Allete has not used its PAC donations for ideological purposes and has not reported on its lobbying (1)(2)(3).