Lindsay - 1792 Exchange

Rating Overview

Lindsay is Medium Risk.

Lindsay Corporation 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.
[Company Name] is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company elevates merit, excellence, and integrity ahead of race and identity-based policies. 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	Medium 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:

Lindsay integrates ESG into its business practices. From its 2022 Annual Report: “ESG priorities are inherently part of The Lindsay Way” (1). However, in 2025, the company removed ESG language from its 2025 Annual Report. To date, the company has not publicly addressed these changes, leaving shareholders without clarity regarding the company’s reasoning or future direction (2). The company integrates DEI into its supply chain. From its Supplier Code of Conduct: “Lindsay asks Suppliers to support diversity and inclusion in their workplaces” (3). However, Lindsay has not 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:

Lindsay 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:

Medium

Rationale:

Lindsay 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:

High

Rationale:

Lindsay supports DEI within its business practices. From its Careers webpage: “Our culture is ever-evolving, diverse, and inclusive. We foster an environment that is safe, collaborative, supportive, and respectful — a place where employees can bring their authentic selves to work and where every voice is heard” (1). The company supports ESG within its business practices. From its 2023 Sustainability Report: “Our CEO and SLT are responsible for overseeing our business operations, directing our strategy and managing progress towards our priority ESG goals” (2). However, in 2025, Lindsay removed ESG language from its 2025 Annual/Sustainability Report[s]. To date, the company has not publicly addressed these changes, leaving shareholders without clarity regarding the company’s reasoning or future direction (2).

Criteria:

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

Risk Level:

Lower

Rationale:

Lindsay 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:

N/A

Rationale:

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