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Saturday, December 28, 2024

Erie-based Erie Insurance Group earned ‘Corporate Equality Index’ score of 90

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Erie Insurance Group, which is based in Erie, earned a score of 90 in a ranking that evaluates the corporate non-discrimination policies based on “sexual orientation” and “gender identity.”

A total of nine companies in Pennsylvania received a rating of 100 on the Human Rights Campaign Foundation’s Corporate Equality Index. Nationwide, 842 businesses received the maximum score, reflecting the rating’s evaluation that these are among the “best places” for LGBTQ+ members to work.

Erie Insurance Group is on the Fortune 1000 list of large U.S. companies.

The CEI rating criteria are based on four categories: nondiscrimination policies, pledges of equal benefits for LGBTQ+ employees and their families, support for an inclusive workplace and “corporate social responsibility.”

Companies might be adhering to CEI policies to please their top shareholders and secure bonuses and board positions for themselves, the New York Post reported. BlackRock CEO Larry Fink, who has been called “the face” of environmental, social and corporate governance (ESG), wrote in a 2018 letter to CEOs titled “A Sense of Purpose” that companies that fail to serve a social purpose “will ultimately lose the license to operate from key stakeholders.”

Republican presidential candidate Vivek Ramaswamy, author of “Woke Inc.: Inside America’s Social Justice Scam,” said, “The big fund managers like BlackRock all embrace this ESG orthodoxy in how they apply pressure to top corporate management teams and boards and they determine, in many cases, executive compensation and bonuses and who gets re-elected or re-appointed to boards. They can make it very difficult for you if you don’t abide by their agendas.”

Prioritizing CEI rankings might not always bring the results executives are hoping for, as in the case of Anheuser-Busch’s promotion of Dylan Mulvaney, a 26-year-old TikTok star who transitioned from male to female in 2021 and has since raked in over $1 million in brand endorsements. Bud Light’s and Nike’s ad campaigns featuring Mulvaney drew criticism from stars like Kid Rock, Travis Tritt and Caitlyn Jenner, but Derek Kreifels, the co-founder and CEO of State Financial Officers Foundation, said the backlash may end up being more significant.

In the two weeks after Bud Light’s launch of the Mulvaney ad campaign, Anheuser-Busch’s value decreased by more than $5 billion, the New York Post reported.

The CEI ranking examines business-related activities such as education, training and accountability measures and how inclusive they are.

A total of 1,200 companies, both privately and publicly held, participated in the survey in 2022. The Human Rights Campaign Foundation initiated the survey in 2002.

List of CEI-Rated Companies in Pennsylvania
EmployerHeadquarters LocationState2022 CEI RatingFortune 1000 Rank?
Aberdeen Standard InvestmentsPhiladelphiaPA100No
Avantor, Inc.RadnorPA60No
Comcast NBCUniversalPhiladelphiaPA100Yes
Community Care Behavioral Health OrganizationPittsburghPA100No
Cozen O’ConnorPhiladelphiaPA100No
Crown HoldingsPhiladelphiaPA20Yes
EQT CorporationPittsburghPA95Yes
Erie Insurance GroupEriePA90Yes
Eurofins ScientificLancasterPA85No
Federal Reserve Bank PhiladelphiaPhiladelphiaPA100No
GIANT CompanyCarlislePA100No
Howmet AerospacePittsburghPA100Yes
Judge Group, Inc.WaynePA85No
Olympus Corporation AmericasCenter ValleyPA90No
Philadelphia Inquirer, PBCPhiladelphiaPA95No
Qurate Retail GroupWest ChesterPA100Yes
Spark Therapeutics, Inc.PhiladelphiaPA60No
SUEZ Water Technologies SolutionsTrevosePA90No
TeleflexWaynePA90Yes
Universal Health Services, Inc.King of PrussiaPA20Yes
UPMC Health PlanPittsburghPA100No
Wabtec CorporationPittsburghPA90Yes

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