Smith & Nephew - 1792 Exchange

Rating Overview

Smith & Nephew is Medium Risk.

Smith & Nephew 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:

Smith & Nephew integrates ESG into its business practices. From its 2025 Sustainability Report: “100% of inscope suppliers underwent ESG risk assessments” (1). However, the company has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (2).

Criteria:

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

Risk Level:

Lower

Rationale:

Smith & Nephew does not 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:

Smith & Nephew appears to prioritize diversity over merit in its appears to prioritize diversity over merit in its leadership composition. From its 2025 Corporate Governance Statement: “With these changes, we continue our
commitment to fostering diversity in its
broadest sense and to ensuring that our
Board membership draws from a wide
range of backgrounds and cultures” (1). The company 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:

Smith & Nephew supports DEI within its business practices, hosting a DEI Council (1). The company supports ESG within its business practices. From its 2025 Sustainability Report: “Our ESG programme is fundamental to the
successful execution of our RISE strategy
and to the long-term value we create as a
medical technology company” (2).

Criteria:

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

Risk Level:

Lower

Rationale:

Smith & Nephew 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:

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