Nuveen - 1792 Exchange

Rating Overview

Nuveen is Medium Risk.

Nuveen 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. Nuveen 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	Medium 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:

Nuveen integrates ESG into its business practices. The company evaluates its investments based on ESG factors such as low carbon emissions (1)(2). In 2020, Nuveen created a plan to push investee companies to become more ESG integrated, which includes using its proxy votes against directors who do not align with Nuveen’s ESG statements. Nuveen promotes divisive sex and gender policies. Its 2023 Annual Report requires investee companies to “address diversity risks and opportunities beyond nondiscrimination and provide policies and performance indicators related to equity and inclusion” (3). However, Nuveen 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:

Nuveen 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:

High

Rationale:

Nuveen appears to prioritize diversity over merit in its hiring. From its Inclusion, Diversity and Equity page: “We’re increasing diversity across our firm through deliberate actions within early talent, mid-career and executive recruiting efforts” (1)(2). Nuveen is an affirmative action employer. From its Inclusion, Diversity and Equity page: “We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status”. Nuveen 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:

Nuveen is aligned with the Paris Agreement, which entails a commitment to net zero carbon emissions by 2050 (1). Nuveen is a founding member of the Morgan Stanley Equity Collective, an initiative that “collaborates with asset management firms to empower, educate and recruit diverse talent” (2)(3).

Criteria:

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

Risk Level:

Medium

Rationale:

Nuveen is a partner of LGBTQ+ Albert Kennedy Trust, an organization that supports LGBTQ youth (1)(2). Otherwise, there are no publicly known cases of Nuveen using corporate funds to advance ideological causes, organizations, or policies (3)(4).

Criteria:

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

Risk Level:

N/A

Rationale:

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