Zevia PBC - 1792 Exchange

Rating Overview

Zevia PBC is Medium Risk.

Zevia PBC 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	No Data
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	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:

Zevia integrates DEI into its supply chain. From its Supplier Code of Conduct: “Zevia is committed to the development and growth of diverse businesses and implements policies and procedures to promote diversity within the company and within its supply chain. Zevia expects Suppliers to have equivalent policies to promote diversity in their supply chain and purchase from diverse businesses” (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:

N/A

Rationale:

Zevia does not publish charitable giving guidelines (1).

Criteria:

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

Risk Level:

High

Rationale:

Zevia offers unconscious bias training to its employees (1). The company appears to prioritize diversity over merit in its leadership composition. From its Principles of Corporate Governance: “The Board and the Nominating Committee actively seek to achieve a diversity of occupational and personal backgrounds on the Board, including diversity with respect to demographics such as gender, race, ethnic and national background, geography, age and sexual orientation and unique and diversified perspectives” (2). The company does not provide viewpoint protections for its employees (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:

Zevia supports DEI within its business practices, hosting a DEI&B Taskforce (1). The company supports DEI within its business practices. From its Code of Business Conduct and Ethics: “The Company values and promotes diversity not only in its workplace, but in its suppliers and
community as well” (2). The company supports ESG within its business practices. From its 2025 Form 10-K: “Our focus on ESG is core to how we conduct our business, and we believe this focus makes us a more successful company” (3).

Criteria:

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

Risk Level:

Lower

Rationale:

Zevia 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:

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