ExxonMobil - 1792 Exchange

Rating Overview

ExxonMobil is High Risk.

ExxonMobil is High Risk. The company 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. ExxonMobil embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. 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	High 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	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:

Medium

Rationale:

ExxonMobil received a score of 75 on the 2026 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)(3). ExxonMobil received a score of 75 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 (4)(5). Denbury, a subsidiary of Exxon, integrates ESG into its business practices. From its 2022 Corporate Responsibility Report: “Executive compensation linked to Environmental, Social, and Governance (“ESG”) performance, emissions reductions targets and our CCUS strategy” (6). However, the company has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (7).

Criteria:

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

Risk Level:

High

Rationale:

ExxonMobil’s HRC 2026 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2)(3). ExxonMobil’s HRC 2025 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (4)(5). Denbury will not match employee donations to “religious… organizations” (6)(7). Its foundation does not appear to discriminate against charitable organizations based on views or beliefs. However, it will only give to religious organizations that provide non-sectarian services (8).

Criteria:

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

Risk Level:

High

Rationale:

ExxonMobil’s HRC 2025 CEI rating indicates the company forces employees to attend multiple, controversial trainings on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees (1)(2). The company does not provide viewpoint protections for its employees (3). Denbury, a subsidiary of Exxon, requires its employees to take unconscious bias and DEI training (4). Denbury appears to prioritize diversity over merit in its recruitment. From its 2022 Corporate Responsibility Report: “Our management is responsible for implementing our diversity initiatives, including targeted recruitment of underrepresented populations” (5). Denbury does not provide viewpoint protections for its employees (6).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

High

Rationale:

ExxonMobil’s HRC 2026 CEI rating indicates the company potentially agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers and harming shareholders (1)(2)(3). ExxonMobil’s HRC 2025 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers and harming shareholders (4)(5). The company’s CEO Darren Woods is a member of the Business Roundtable and signed its 2019 Statement on the Purpose of a Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders (6)(7). The company scored a 70 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group (8)(9). Denbury, a subsidiary of Exxon, supports DEI within its business practices. From its 2022 Corporate Responsibility Report: “At Denbury, we strive to make diversity, equity and inclusion a part of our culture” (10). ExxonMobil is a member of Carbon Measures, an organization committed to “establishing a more accurate carbon accounting framework and driving market-based solutions to reduce emissions at the lowest cost” (11)(12).

Criteria:

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

Risk Level:

High

Rationale:

ExxonMobil’s HRC 2026 CEI rating indicates the company has potentially pledged philanthropic support of at least one organization or event that promotes sex and gender ideology. 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)(3)(4). ExxonMobil’s HRC 2025 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (5)(6). It is a brass sponsor of Out & Equal (7). The company is a corporate partner of the National LGBT Chamber of Commerce (8). Denbury, a subsidiary of Exxon, sponsored the First Annual Energy Inclusion Conference. From its 2022 Corporate Responsibility Report: “The conference addressed the importance of creating an inclusive culture within organizations by leveraging diversity and embracing inclusivity in the workplace” (9). ExxonMobil sponsored the Baton Rouge Pride Fest 2025 (10). Otherwise, there are no publicly known cases of the company using corporate funds to advance ideological causes, organizations, or policies (11).

Criteria:

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

Risk Level:

High

Rationale:

ExxonMobil’s HRC 2025 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives. By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders (1)(2). The company has not used its PAC donations or lobbying for ideological purposes (3)(4)(5).