Charles Schwab

InfluenceMap Score
for Sustainable Finance Policy Engagement
D+
Performance Band
n/a
Organization Score
48%
Relationship Score

Sector:
Financials
Head​quarters:
Westlake, United States
Official Web Site:
Wikipedia:

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.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
44%
 
44%
 
58%
 
58%
 
54%
 
54%
 
46%
 
46%

How to Read our Relationship Score Map

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.