Glencore plc - 1792 Exchange

Rating Overview

Glencore plc is Medium Risk.

Glencore 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. Glencore 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	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:

Medium

Rationale:

Glencore integrates ESG into its business practices. From its Supplier Code of Conduct: “We expect our suppliers to develop decarbonisation roadmaps for the reduction of the carbon footprint of their products and associated handling and transportation, in line with the goals of the Paris Agreement” (1). Also,from its 2024 Annual Report: “The committee considered key financial, operational, and ESG achievements that demonstrated the quality of leadership, strategy execution, and overall performance.” (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:

Glencore 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:

Glencore offers unconscious bias and inclusive behaviors training to its employees (1). The company appears to prioritize diversity over merit in its hiring and leadership composition. From its 2024 Annual Report: “The Board will continue to seek to achieve greater diversity in the senior management of the Group and throughout the organisation” (2). The company protects its employees against viewpoint discrimination (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:

Glencore is aligned with the Paris Agreement, which entails a commitment to net zero carbon emissions by 2050 (1). The company supports DEI within its business practices, employing a DEI officer (2). The company supports DEI within its business practices. From its Diversity and Inclusion Policy: “Diversity and inclusion is a business and commercial imperative and a diverse workforce strengthens our culture and our ability to deliver our business objectives” (3). The company held a week-long DEI workshop at their headquarters in 2024 (4).

Criteria:

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

Risk Level:

Lower

Rationale:

Glencore 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:

Lower

Rationale:

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