Maravai LifeSciences Holdings, Inc.

Rating Overview

Maravai LifeSciences Holdings, Inc. is Medium Risk.

Maravai LifeSciences 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	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:

Maravai LifeSciences integrates DEI into its supply chain. From its Supplier webpage: “Maravai establishes partnerships with qualified suppliers who embrace our commitment to diversity, equity and inclusion” (1). The company promotes divisive sex and gender policies. Its Supplier Code of Conduct requires international vendors to include sexual orientation and gender identity in their nondiscrimination policy (2). The company has a history of divisive corporate policies elating to ESG. However, in January 2024, the company removed ESG language from its 2024 Sustainability Report. To date, the company has not publicly addressed this change, leaving shareholders without clarity regarding the company’s reasoning or future direction (3). However, it 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:

Maravai LifeSciences does not appear to discriminate against charitable organizations based on views or beliefs (1)(2).

Criteria:

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

Risk Level:

High

Rationale:

Maravai LifeSciences requires its employees to take unconscious bias training (1). It appears to prioritize diversity over merit in its leadership composition. From its Corporate Goverance Guidelines: “Consistent with this philosophy, in addition to the standards set forth above, the Nominating, Governance and Risk Committee shall consider candidates who reflect diverse backgrounds, including but not limited to diversity of gender, race, ethnicity, sexual orientation, age, education, cultural background, and professional experience” (2). It is an affirmative action employer. “Maravai LifeSciences is an Equal Opportunity/Affirmative Action employer” (3)(4). It does not provide viewpoint protections for its employees (5)(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:

Maravai LifeSciences’s former CEO Carl Hull signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace, strategize on DEI programs/initiatives with other signatories, and engage boards of directors when developing and evaluating DEI strategies (1)(2). It supports DEI within its business practices. From its 2024 Sustainability Report: “Our commitment to diversity continues to drive innovation and create value for customers” (3). It supports ESG within its business practices. From its 2023 ESG Report: “Our commitment to ESG is intrinsic to our long-term success” (4). The company has a history of divisive corporate policies and practices. However, in January 2024, the company removed ESG language from its 2024 Sustainability Report. To date, the company has not publicly addressed this change, leaving shareholders without clarity regarding the company’s reasoning or future direction (5).

Criteria:

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

Risk Level:

Lower

Rationale:

Maravai LifeSciences 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:

Maravai LifeSciences does not operate a PAC at this time and has not used its lobbying for ideological purposes (1)(2)(3).