National Bank of Canada - 1792 Exchange

Rating Overview

National Bank of Canada is Medium Risk.

National Bank of Canada is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. National Bank of Canada 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	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:

National Bank of Canada is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices (1)(2). The bank integrates ESG into its business practices, “The Bank considers ESG factors key drivers in all its activities.” (3). However, National Bank of Canada 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:

National Bank of Canada does not appear to discriminate against charitable organizations based on religious beliefs (1).

Criteria:

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

Risk Level:

High

Rationale:

National Bank of Canada offers unconscious bias and inclusion and diversity training to its employees (1). The company appears to prioritize diversity over merit in its recruitment and hiring. From its Inclusion and Diversity booklet: “[We] Lead targeted initiatives in schools, universities and organizations that specifically support women, visible minorities, persons with disabilities, Indigenous Peoples and members of LGBTQ2+ communities, allowing us to develop pools of candidates in those segments” (2). National Bank of Canada does not provide viewpoint protections for its employees (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:

National Bank of Canada is committed to net zero carbon emissions by 2050 (1). The bank supports DEI within its business practices, hosting an Inclusion, Diversity, and Equity (IDE) Council (2). National Bank of Canada supports DEI within its business practices. From its Commitments and Impacts page: “Inclusion, diversity and equity (IDE) are an integral part of National Bank’s culture. These values guide our actions and contribute directly to fostering well-being, success and pride in our teams” (3). The bank is a member of the Partnership for Carbon Accounting Financials, committed to net zero carbon emissions by 2050 (4)(5)(6).

Criteria:

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

Risk Level:

Lower

Rationale:

National Bank of Canada has publicly 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:

National Bank of Canada does not operate a PAC or report on its lobbying at this time (1)(2)(3).