Last Updated:

10/24/20 1:36 PM

overall rating:

do better

Charles Schwab

Internal Representation & Support
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40%

Public Commitment
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59%

External Communication
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19%

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To evaluate this pillar, we take into consideration a range of factors, including but not limited to:

- Employee representation

- Diversity, equity, & inclusion (DEI)

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We weigh a company’s degree of public commitment primarily on their monetary contributions to DEI matters or organizations fighting racial injustice.

Forms of monetary support we look for:

One-off donations
Recurring donations
Grant initiatives
Employee donation matching

 

Highlights

We have not identified any notable highlights for this brand.

Lowlights

Charles Schwab has been known to be one of Trump's largest donors. In addition, the company has demonstrated zero support of Black Lives Matter on its social media platforms.

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We scour the company’s website and official social media channels to determine what message they are sending around racial injustice, how they are communicating it, and whether their communications are perceived as genuine or performative.

Public statement: We verify that companies have made a formal statement regarding racial injustice.

Social media: We consider how a company uses their platform(s) beyond performative allyship.

Representation: For companies that have the opportunity to showcase diversity in their feed, we consider whether they have adequate Black representation and BIPOC representation across their models. 

Looking for an equitable brand as a replacement? Click here to see our directory! 

Deep Dive

I. Internal Representation & Support:

Board of Directors:

6% - 7% Black, 11% - 15% BIPOC, 21% - 25% Women

Executive Leadership:

0% (none) Black, 0.1% - 5% BIPOC, 21% - 25% Women

6% - 7% Black, 31% - 35% BIPOC, 36% - 40% Women

Workforce:

A Black employee resource group

DEI Support:

II. Public Commitment

Charles Schwab has pledged a donation of 0.01% - 0.09% of annual revenue towards racial injustice, specifically for Black lives. Additionally, Charles Schwab has engaged in actions that advance racial justice and/or uplift BIPOC communities, such as partnerships with nonprofits or mission-based organizations that advance racial justice and/or uplift BIPOC communities, and matching donations to a broad range of qualifying organizations. Charles Schwab is also an advocate for the LGBTQ+ community and people living with disabilities.

III. External Communications

Charles Schwab has issued a public statement in a public memo addressing racial injustice ; however, it did not acknowledge that they can be doing better to combat racial inequality within their company, include specific calls to action, or explicitly state "Black Lives Matter." Since June 2020, the brand has not posted on social media about racial injustice. While the brand does not regularly feature models in their social media posts, there is little to no evidence of additional actions the brand takes to show support of the LGBTQ+ community (beyond posting for Pride) or other marginalized communities.
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