Pactiv Evergreen - 1792 Exchange

Rating Overview

Pactiv Evergreen is Medium Risk.

Novolex 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:

Novolex integrates DEI into its supply chain. From its Supplier Code of Conduct webpage: “Novolex expects our business partners to treat all individuals with respect and dignity, including undertaking efforts to promote diversity, inclusion, and socially responsible best practices” (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). However, Novolex has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (3).

Criteria:

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

Risk Level:

Lower

Rationale:

Novolex 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:

Novolex requires its hiring managers to take unconscious bias training (1). The company appears to prioritize diversity over merit in its recruitment. From its 2024 Sustainability Report: “In order to attract the best diverse talent to Novolex, we have implemented engagement and inclusivity practices in our recruiting processes” (2). Novolex appears to prioritize diversity over merit in its supply chain. From its For Suppliers webpage: “We identify suppliers who meet diversity criteria for inclusion in our search for new vendors. We also track our quarterly and full year spending with diverse suppliers” (3). The company does not provide viewpoint protections for its employees (4).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

High

Rationale:

Novolex supports DEI within its business practices, employing a DEI Council (1). The company supports DEI within its business practices. From its 2023 Sustaianbility Report: “Diversity, Equity and Inclusion (DE&I) embody the core of our company identity which has translated into concrete opportunities” (2). In 2025, Novolex rebranded its DEI Council as Culture and Engagement Council; despite the rebranding, the underlying divisive corporate policies appear to remain in place (3). The company also supports ESG within its business practices. From its 2022 Sustainability Report: “Throughout this report and particularly in our reported metrics, readers will find evidence of integrating a range of ESG considerations into our business, brands and culture” (4). In 2024, Novolex rebranded its ESG policies as Sustainability; however, it remains unclear whether the underlying divisive corporate policies materially changed following the rebrand (5).

Criteria:

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

Risk Level:

Lower

Rationale:

Novolex 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:

Novolex has not used its PAC donations for ideological purposes and does not engage in lobbying at this time (1)(2)(3).