Cleveland-Cliffs - 1792 Exchange

Rating Overview

Cleveland-Cliffs is Lower Risk.

Cleveland Cliffs does not yield to political activism in shaping corporate governance, preventing initiatives that potentially alienate consumers, divide employees, and harm shareholders. The company elevates merit, excellence, and integrity ahead of race and identity-based policies. Cleveland Cliffs does not embrace corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach protects free exercise, free speech, and free enterprise.

Rating Criteria

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

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	Medium 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:

Lower

Rationale:

Cleveland Cliffs 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:

Medium

Rationale:

Cleveland Cliffs charitable giving guidelines require that organizations abide by its nondiscrimination policy, including on the basis of sexual orientation and gender identity, thereby excluding some religious charities (1)(2)(3).

Criteria:

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

Risk Level:

Medium

Rationale:

Cleveland Cliffs 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:

Medium

Rationale:

AK Steel CEO Roger K. Newport signed the Business Roundtable’s 2019 Statement on the Purpose of a Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders (1). Otherwise, there are no publicly known cases of Cleveland Cliffs using its reputation to advance 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:

Cleveland Cliffs 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:

Lower

Rationale:

Cleveland Cliffs does not operate a PAC at this time and has not lobbied for ideological purposes (1)(2)(3).