Nutrien - 1792 Exchange

Rating Overview

Nutrien is Medium Risk.

Nutrien 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. Nutrien 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	High 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:

Nutrien integrates ESG into its business practices. From its 2023 Global Sustainability Report: “Our targets and progress are overseen by our Sustainability and ESG Governance Framework” (1). The company integrates DEI into its supply chain. From its Supplier Code of Ethics: “The Code aligns with broader policies that govern the way
Nutrien operates and engages in company-wide business activities. These policies, procedures and principles include but are not limited to the following: Nutrien Procurement Procedure; Diversity and Inclusion; and Nutrien Code of Ethics” (2). Nutrien promotes divisive sex and gender policies. Its Supplier Code of Ethics requires international vendors to include gender identity/expression and sexual orientation in their nondiscrimination policy (3). The company has a history of divisive corporate policies and practices. However, in 2024, the company removed ESG language from its Sustainability Report. To date, the company has not publicly addressed this change, leaving shareholders without clarity regarding the company’s reasoning or future direction (4)(5). However, Nutrien has not canceled customers, suppliers, or vendors based on political views or religious beliefs (6).

Criteria:

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

Risk Level:

High

Rationale:

Nutrien will not fund religious organizations in its charitable giving “unless services provided are non-religious and provide equal access to all,” “Advocacy groups (including projects that proselytize or advocate political or religious messages),” or charities that discriminate based on gender or sexuality (1)(2).

Criteria:

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

Risk Level:

High

Rationale:

Nutrien requires its employees to take unconscious bias, microaggression, and indigenous awareness training (1). Nutrien does not provide viewpoint protections for its employees (2).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

High

Rationale:

Nutrien supports ESG within its business practices. From its 2023 Global Sustainability Report : “Our Sustainability and ESG
Governance Framework supports the collective goal for Nutrien to conduct business with integrity in all aspects of our operations” (1). The company supports DEI within its business practices. From its 2023 Global Sustainability Report: “We continue to expand leadership
programs associated with women, look to remove any systemic barriers, develop additional means to attract, develop and retain women, and drive cultural change that fosters an
increasingly inclusive workplace where all employees, including women,
can thrive” (2). Nutrien has a history of divisive corporate policies and practices . However, in 2024, the company removed DEI and ESG language from its 2024 Sustainability Report. To date, the company has not publicly addressed these changes, leaving shareholders without clarity regarding the company’s reasoning or future direction (3)(4).

Criteria:

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

Risk Level:

Lower

Rationale:

Nutrien has not used corporate funds to advance ideological causes, organizations, or policies (1)(2).

Criteria:

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

Risk Level:

Lower

Rationale:

Nutrien has not used its PAC donations or lobbying for ideological purposes (1)(2)(3).