Amyris - 1792 Exchange

Rating Overview

Amyris is Medium Risk.

Amyris, 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 implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. 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	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	No Data

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:

Amyris received a score of 35 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2). The company integrates ESG into its business practices. From its 2021 ESG Report: “Environmental Mission Statement: To work with our communities, suppliers and partners to minimize our carbon footprint globally by reducing our requirements for energy and natural resources, manufacturing renewable products, effectively recycling our wastes and byproducts, and responsibly managing our technology. OUR ENVIRONMENTAL AND SUSTAINABILITY POLICY IS TO: …. Endeavor to work only with suppliers and distributors who share our commitment to sustainable management practices” (3). Amyris integrates DEI into its supply chain. From its Supplier Code of Conduct: “Suppliers shall foster a diverse, equitable, and inclusive work environment that is free of harassment or discrimination” (4). However, the company has not canceled customers, suppliers, or vendors based on political views or religious beliefs (5).

Criteria:

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

Risk Level:

Lower

Rationale:

Amyris 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:

High

Rationale:

Amyris offers unconscious bias, microaggression, and DEI training to its employees (1). The company appears to prioritize diversity over merit in its leadership composition. From its 2023 Proxy Statement: “While we do not have a formal policy with regard to the consideration of diversity in identifying director nominees, the NGC strives to reflect current legal developments and modifications to public company standards regarding diversity and inclusion on public company boards” (2). Amyris does not provide viewpoint protections for its employees (3).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

High

Rationale:

Amyris’ General Counsel and Secretary Nicole Linda Kelsey co-signed a letter to law firms demanding an improvement in diversity in order to retain business with the company (1). The company signed an open letter endorsing the Equality Act, a contentious proposal to amend the 1964 Civil Rights Act by adding sexual orientation and so-called gender identity as protected categories. The legislation would, among other implications, grant biological men access to women-only spaces such as sports teams and public restrooms, and compel healthcare providers to deliver sex-denying healthcare (2). Amyris is aligned with the Paris Agreement, which entails a commitment to net zero carbon emissions by 2050 (3). The company supports DEI within its business practices, hosting a DEI Council and employing a DEI Officer (4). Amyris supports DEI within its business practices. From its 2021 ESG Report: “Our Board of Directors is deeply committed to diversity, equity, inclusion and belonging. The Board’s Leadership, Development, Inclusion and Compensation Committee has oversight responsibility for the diversity, equity, inclusion and belonging policies and practices. This oversight includes periodic reviews of the composition of the workforce in terms of diversity, trends in pay equity and transparency, and initiatives designed to achieve diversity goals” (5). The company supports ESG within its business practices. From its 2023 Proxy Statement: “Consistent with our mission, we view Environmental, Social, and Governance (“ESG”) factors as long-term value drivers for our customers, our Company, our community, our stockholders, and all of our other stakeholders” (6).

Criteria:

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

Risk Level:

High

Rationale:

Amyris’s HRC 2025 CEI rating indicates the company provides a benefits package for employees which includes some transgender medical benefits for covered employees and dependents, including children. This may include paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (1)(2). The company donated $10,000 to Stop AAPI Hate (3). Amyris pledged $50,000 to support Teaching Tolerance, The Conscious Kid, and EmbraceRace (4)(5)(6)(7). Otherwise, there are no publicly known cases of Amyris using corporate funds to advance ideological causes, organizations, or policies (8).