Orion S.A. - 1792 Exchange

Rating Overview

Orion S.A. is Medium Risk.

Orion S.A. is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. Orion S.A. 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	Lower 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:

Orion S.A. integrates ESG into its business practices. From its 2024 Sustainability Report: “ESG aspects are incorporated into short- and long-term performance incentives” (1). The company integrates ESG into its business practices. From its 2024 Sustainability Report: “ESG targets are a factor in the group’s annual bonus program, in which our employees participate” (2). Orion S.A. integrates ESG into its business practices. From its 2024 Sustainability Report: “ESG risks are systematically integrated into our risk management system and undergo ongoing evaluation and differentiation” (3). The company promotes divisive sex and gender policies. Its Code of Conduct, which suppliers are also expected to abide by, requires international vendors to include sexual orientation and gender identity in their nondiscrimination policy (4). However, Orion S.A. has not canceled customers, suppliers, or vendors based on political views or religious beliefs (5).

Criteria:

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

Risk Level:

Lower

Rationale:

Orion S.A. 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:

Lower

Rationale:

Orion S.A. has a history of divisive corporate policies. However, in June 2025, the company removed DE&I training policies 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 (1)(2). The company protects its employees against viewpoint discrimination (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:

Orion S.A.’s CEO Corning Painter 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). The company is aligned with the Paris Agreement, which entails a commitment to net zero carbon emissions by 2050 (3). Orion S.A. supports DEI within its business practices. From its Human Rights Policy: “We support and encourage diversity and inclusion within
our business and the organizations with which we do business” (4). The company supports ESG within its business practices. From its 2024 Sustainability Report: “He [the Head of Corporate Sustainability] receives feedback from functions across the business to ensure the ESG strategic framework is embedded” (5).

Criteria:

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

Risk Level:

Lower

Rationale:

Orion S.A. 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:

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