Carrefour - 1792 Exchange

Rating Overview

Carrefour is Medium Risk.

Carrefour 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	Lower 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:

Carrefour integrates ESG into its business practices. From its 2024 Suppliers Ethic Charter: “The Suppliers commit to reduce greenhouse gas emissions from their activities (scopes 1 and 2)” (1). The company promotes divisive sex and gender policies. Its Suppliers Ethic Charter requires international vendors to include sexual orientation in their nondiscrimination policy (2). However, the company has not canceled customers, suppliers, or vendors based on political views or religious beliefs (3).

Criteria:

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

Risk Level:

Lower

Rationale:

Carrefour does not discriminate against charitable organizations based on views or beliefs (1). The Carrefour Foundation’s charitable giving focus areas are food security and nutritional education (2).

Criteria:

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

Risk Level:

High

Rationale:

Carrefour offers unconscious bias training to its employees (1). The company appears to prioritize diversity over merit in its leadership composition. From its 2024 Universal Registration Document: “The review of the implementation and the monitoring of the Board of Directors’ diversity policy are conducted annually, as part of the Board of Directors’ assessment process supervised by the Lead Director” (2). The company appears to prioritize diversity over merit in its recruitment. From its 2024 Universal Registration Document: “recruit more candidates from diverse origins, both by reaching out to candidates in universities where the Group has not previously had a presence” (3). The company appears to prioritize diversity over merit in its promotions and mentorship program. From its 2024 Universal Registration Document: “further promote employees from diverse backgrounds, in particular through a partnership with the Revel@Her programme developed by the Club du 21 siècle, designed to mentor Carrefour’s women employees from diverse backgrounds” (4). The company protects its employees against viewpoint discrimination (5).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

High

Rationale:

Carrefour supports DEI within its business practices. From its L’Autre Cercle Charter page: “In 2022, Carrefour confirmed its commitment to inclusion by adopting the LGBT+ Charter of L’Autre Cercle, a leading non‑profit organisation in the world of work” (1). The company supports ESG within its business practices. From its 2024 Universal Registration Report: “The CSR Committee oversees the Group’s double materiality assessment as well as its ESG (Environment, Social, Governance) policies drawn up in order to address its material impacts, risks and opportunities, and it monitors the related performance metrics” (2).

Criteria:

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

Risk Level:

Lower

Rationale:

Carrefour has not used corporate funds to advance ideological causes, organizations, or policies (1)(2).

Criteria:

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

Risk Level:

N/A

Rationale:

Carrefour does not operate a PAC or engage in lobbying at this time (1)(2)(3).