Walmart - 1792 Exchange

Rating Overview

Walmart is Lower Risk.

Walmart is Lower Risk. The company does not yield to political activism in shaping corporate governance, preventing initiatives that potentially alienate consumers, divide employees, and harm shareholders. The company elevates merit, excellence, and integrity ahead of race and identity-based policies. Walmart does not embrace corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach protects free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Lower Risk
Discriminatory Philanthropy	Lower Risk
Employment Protection	Medium Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	Medium Risk
Funding	Medium Risk
Political Actions	Medium 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:

Lower

Rationale:

While Walmart raised the limit to purchase a firearm to 21, the company has not bowed to pressure to entirely stop selling firearms, nor has it used its institutional might to force changes on the firearm industry, as a New York Times contributor publicly requested (1)(2). The company was a member of the Global Alliance for Responsible Media, which demonetized and suppressed content that it deemed to spread “hate speech” or “misinformation”, discuss “debated social issues in a negative or partisan context”, or “vilif[y]” individuals based on sexual orientation and gender identity. These arbitrary guidelines were used to censor mainstream perspectives online (3)(4)(5). However, the company has not canceled customers, suppliers, or vendors based on political views or religious beliefs (6).

Criteria:

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

Risk Level:

Lower

Rationale:

Walmart 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:

Medium

Rationale:

Walmart used to support DEI in its leadership composition through the establishment of gender and racial targets and offered unconscious bias training to its leaders. However, in November 2024, the company pledged to end racial quotas and DEI training at the company (1)(2)(3)(4)(5). The company does not provide viewpoint protections for its employees (6).

Corporate Governance and Public Policy

Criteria:

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

Risk Level:

Medium

Rationale:

Walmart used to allow a controversial stakeholder group focused on sexual identity issues to dictate it marketing/advertising strategies. However, in November 2024, it pledged to monitor the Walmart marketplace to identify and remove inappropriate products marketed to children (1)(2)(3)(4). Also, the company did stand up to shareholder activists pushing for the company to focus its time, attention, and money on abortion policy (5). In November 2024, Walmart also pledged to discontinue DEI within the company (6). The company is committed to net zero emissions by 2040 (7).

Criteria:

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

Risk Level:

Medium

Rationale:

Walmart provides a benefits package for employees that covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children (1)(2)(3)(4)(5). The company was a member of the Global Alliance for Responsible Media (6)(7)(8). Walmart has supported organizations/events that promote sex and gender ideology. However, in November 2024, it pledged to review the funding of events and organizations to avoid funding inappropriate sexualized content targeting kids (9)(10)(11)(12). The company has supported multiple groups that promote racial equity and DEI and committed $100 million over five years to establish the Walmart Center for Racial Equity. However, in November 2024, Walmart disbanded its Racial Equity Center and ended support for DEI within the company (13)(14)(15)(16)(17)(18)(19)(20). The company is a coalition member of OneTen, appearing to prioritize diversity over merit in its hiring (21)(22)(23). The company sponsored the The White Mountains Pride Festival in 2025 (24). Otherwise, there are no publicly known cases of the company using corporate funds to advance ideological causes, organizations, or policies (25).