Calpine Corp - 1792 Exchange

Rating Overview

Calpine Corp is Medium Risk.

Calpine Corp 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. Calpine 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	Lower Risk
Discriminatory Philanthropy	Lower Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

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

Lower

Rationale:

Calpine has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (1).

Criteria:

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

Risk Level:

Lower

Rationale:

Calpine does not appear to discriminate against charitable organizations based on views or beliefs. The Calpine Foundation seeks to “improve the environment and make a difference in the lives of families and children” (1)(2).

Criteria:

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

Risk Level:

High

Rationale:

Calpine and requires employees to take unconscious bias training (1). Calpine does not provide viewpoint protections for its employees (2).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

Medium

Rationale:

Calpine supports DEI within its business practices and formed a DEI Council (1). Otherwise, it has not supported ideological causes or policies (2).

Criteria:

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

Risk Level:

Lower

Rationale:

Calpine 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:

High

Rationale:

Calpine has not used its PAC donations for ideological purposes and does not engage in lobbying at this time (1)(2)(3). However, it claims to strongly advocate for “state and federal policies to reduce carbon emissions – including through a national price on carbon – and its support for global climate initiatives like the Paris Agreement” (4). From its 2020 Sustainability Report: “We support the goals of the Paris Agreement and have actively supported state and federal policies to achieve reductions of GHG emissions. We have supported California’s adoption and implementation of its economy-wide Cap-and-Trade Program as well as states involved in the Regional Greenhouse Gas Initiative program” (5).