We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Schwab Funds is a member of ICI
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Jonathan de St. Paer is on the board of the ICI.
Jonathan de St. Paer (President, Charles Schwab Investment Management)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Schwab Funds is a member of ICI
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Jonathan de St. Paer is on the board of the ICI.
Jonathan de St. Paer (President, Charles Schwab Investment Management)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Lisa Kidd is on the board of SIFMA.
Lisa Kidd Hunt (Executive Vice President of International Services, Charles Schwab & Co.)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Charles Schwab is a member of SIFMA.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Lisa Kidd is on the board of SIFMA.
Lisa Kidd Hunt (Executive Vice President of International Services, Charles Schwab & Co.)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Charles Schwab is a member of SIFMA.
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Open PDF file of Data Source
Sustainable Finance Lobbying Overview: The Charles Schwab Corporation (Charles Schwab) appears to have had little engagement with sustainable finance policy.
Top-line Messaging on Sustainable Finance Policy: Charles Schwab has recognized the risks climate shocks pose to the financial system, specifically municipal bond markets, but appears to support individual operational risk mitigation rather than systemic reforms. In its 2021 ESG Report, Charles Schwab mentions engaging with policymakers on ESG issues, but details of this engagement are unclear. Charles Schwab’s 2021 CDP climate change response states that it does not engage in activities to influence climate-related public policy.
Position on Regulated Corporate ESG Disclosure: Charles Schwab appears to have a broadly positive, but slightly unclear, position on regulated corporate ESG disclosure. In podcasts from 2021, Schwab researchers and strategists state support for the SEC’s efforts to mandate corporate ESG disclosures, but in a 2021 report Charles Schwab does not take a position on mandatory disclosure. Additionally, Schwab insights report from 2022 outlines commenters’ lines of argument in opposition to the SEC’s climate disclosure proposal including concerns about liability, cost, and the Commission’s legal authority to introduce the rule.
Position on ESG Labels/Standards/Benchmarks: In a 2021 podcast, Charles Schwab appeared to support the SEC’s efforts to establish standards for ESG products. At a SIFMA annual meeting in 2021, Charles Schwab CEO Walter Bettinger stopped short of calling for policy to standardize ESG, but emphasized the need to work toward a common definition. A 2022 insights report described SEC proposals to set standards for funds with ESG-related names and to require disclosures from certain investors about ESG practices, but did not take a clear position on either proposal. On an Investopedia podcast in May 2022, Schwab Head of ESG Strategy Malik Sievers expressed some general support for regulatory action to define ESG.
Industry Association Governance: Charles Schwab has listed some sustainable finance policies and regulatory actions it is monitoring but has disclosed little about desired outcomes and nothing about engagement activities. It has disclosed membership to trade associations but has not given details on board memberships, the sustainable finance policy positions of these associations, or actions taken to address misalignment.