Idacorp, Inc. - 1792 Exchange

Rating Overview

Idacorp, Inc. is Medium Risk.

Idacorp, Inc. 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	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:

Medium

Rationale:

Idacrp integrates ESG into its business practices. From its 2022 ESG Report: “IDACORP considers and incorporates ESG action items across four critical success factors: keep employees safe and engaged, grow financial strength, improve the core business and enhance the brand. In addition, IDACORP views its commitment to ESG as furthering the company’s business strategies to safely provide our customers with reliable, affordable, clean energy while promoting an inclusive workplace where all employees are valued and respected” (1). However, in 2024, the company removed ESG language and policies from its Corporate Responsibility report. To date, the company has not publicly addressed this change, leaving shareholders without clarity regarding the company’s reasoning or future direction (2).
Idacorp integrates DEI into its supply chain. From its 2024 Corporate Responsibility Report: “Another way we support our customers is by sourcing from local small business owners. Through our Supplier Diversity Program, we support veteran-owned, womenowned, and other businesses that participate in our supply chain and procurement process. We believe the program is mutually beneficial, helping us be more efficient while supporting our small business provider” (3). Idacorp has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (4).

Criteria:

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

Risk Level:

Lower

Rationale:

Idacorp does not discriminate against charitable organizations based on views or beliefs (1)(2)(3).

Criteria:

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

Risk Level:

High

Rationale:

Idacopr appears to prioritize diversity over merit in its leadership compositon. From its 2022 ESG Report: “Here are some of the practices we take to ensure we have a well-rounded, diverse and knowledgeable board: Represent diversity in experience and backgrounds, as well as gender, racial and ethnic diversity Idacorp appears to prioritize diversity over merit in its supply chain. From its 2024 Corporate Responsibility Report: “Through our Supplier Diversity Program, we support veteran-owned, womenowned, and other businesses that participate in our supply chain and procurement process. We believe the program is mutually beneficial, helping us be more efficient while supporting our small business providers” (2). Idacorp does not provide viewpoint protections for its employees (3)(4).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

Medium

Rationale:

Idacopr is committed to net zero emissions by 2045 (1). Idacorp supports ESG within its business practices. From its 2022 ESG Report: “DACORP and Idaho Power plan and operate with environmental, social and governance (ESG) stewardship in mind” (2). However, in 2024, the company removed ESG language and policies from its Corporate Responsibility report. To date, the company has not publicly addressed this change, leaving shareholders without clarity regarding the company’s reasoning or future direction (3).
Idacorp has not supported ideological causes or policies (4).

Criteria:

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

Risk Level:

Lower

Rationale:

Idacorp has not used corporate funds to advance ideological causes, organizations, or policies (1). Idaho Power Company was originally a sponsor of the Boise Pride Fest but backed out once there were plans to host a drag show directed at kids at the event (2).

Criteria:

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

Risk Level:

Lower

Rationale:

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