Vail Resorts - 1792 Exchange

Rating Overview

Vail Resorts is Medium Risk.

Vail Resorts 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	High 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:

Vail Resorts integrates ESG into its business practices. From its Supplier Code of Conduct: “Environmental performance will be a factor during Supplier selection, and we expect new and existing Suppliers to act as our partner on environmental compliance, environmental reporting, and working toward agreed upon targets” (1). However, the company has not 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:

Vail Resorts does not appear to discriminate against charitable organizations based on views or beliefs (1). The EpicPromise Employee Foundation’s charitable giving focus areas are hardship relief and educational grants “to provide our team with pathways to stability and access” (2).

Criteria:

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

Risk Level:

High

Rationale:

Vail Resorts offers DEI training to its employees (1). Vail Resorts appears to prioritize diversity over merit in its recruitment, hiring, promotions, leadership composition, and mentorship program. From its 2024 Proxy Statement: “We have a specific leadership competency, “Elevate,” which requires that all our leaders are self-aware of their own inclusive behavior so they can intentionally build diverse representation, bring equity to our business practices, and create inclusive communities in which all people can thrive” (2). “While women currently represent approximately 22% of mountain operations senior leadership roles, we continue to strive to bring more gender diversity to these roles, which have historically been male-dominated. We have also developed women in leadership programs and a Women and Allies Employee Resource Group to foster an inclusive culture and ensure equity of our talent practices” (3). “The Nominating & Governance Committee nominates new directors from time to time so the Board reflects a broad mix of…diversity among directors” (4). The company does not provide viewpoint protections for its employees (5).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

High

Rationale:

Vail Resort’s CEO Robert Katz 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)(3). The company’s CEO Robert Katz denounced various states’ legislative efforts to protect election integrity and security (4). Vail Resorts is committed to net zero emissions by 2030 (5). The company supports DEI and ESG within its business practices. From its 2023 Environmental & Social Responsibility Report: “Since FY 2022, Vail Resorts has made key investments in our diversity, equity, and inclusion (DEI) efforts. In October 2022, we created a new role focused on the development of a multi-year strategy to embed DEI in our talent and business strategies: Vice President, Talent Strategy and Diversity, Equity, & Inclusion” (6). From its 2023 Proxy Report: “Vail Resorts is committed to creating long-term value for our business and our stakeholders through environmental, social, and governance (“ESG”) practices…” (7).

Criteria:

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

Risk Level:

High

Rationale:

Vail Resorts provides a benefits package for employees that covers travel/lodging costs for an abortion (1). The company funded Denver Pride Parade and 5K run, Pride (LGBTQ) in the Park, and various LGBTQ Pride celebrations(2). Attitash Mountain Resort, owned by Vail Resorts, is an Orange Sponsor of The White Mountains Pride Festival 2026 (3). Vail Resorts is a sponsor of Denver Pride 2026 (4). Otherwise, there are no publicly known cases of the company using corporate funds to advance ideological causes, organizations, or policies (5).

Criteria:

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

Risk Level:

Lower

Rationale:

Vail Resorts has not used its PAC donations for ideological purposes and has not reported on its lobbying (1)(2)(3).