Capital Markets Initiative

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Capital Markets Initiative

Restoring integrity, accountability, and moral clarity to America’s financial and corporate sectors

Mission

American Businesses Should Serve Shareholders, Employees, and Communities—Not Activist Elites 

The Capital Markets Initiative advances policies that restore integrity, accountability, and moral clarity to America’s financial and corporate sectors. Grounded in the principles of free enterprise, limited government, and individual liberty, the Initiative defends the primacy of fiduciary duty, counters the politicization of business through ideological agendas, and champions ethical practices rooted in traditional American values. By reinforcing the proper role of capital markets in a free society, we work to ensure that American businesses serve their shareholders, employees, and communities—not activist elites. 

The Heritage Foundation is engaging corporations, submitting shareholder proposals and related filings. We are calling on major corporations to disclose the legal and reputational risks associated with key practices and policies. Our filings focus on several categories of concern. This work reflects our commitment to ensuring that corporations operate with accountability, transparency, and alignment with the interests of their shareholders. 

Regional Banks with Conservative Members 

Bank of America Truist
M&T Bank  Zions Bank
Regions Financial  

 

Federal Contractors with DEI Metrics in Executive Compensation Programs 

Altria Johnson & Johnson
American Express Lockheed Martin
CEI100 Companies Merck
Corning Inc. Northrop Grumman
Dell Philip Morris International
General Dynamics Regeneron
General Electric RTX
Honeywell S&P Global
Humana Tetra Tech
IBM Valero Energy

 

ESG & DEI in Executive Pay 

Consolidated Edison Dominion Energy 
CSX Corporation Norfolk Southern

 

Companies with Unmitigated China Risk 

Caterpillar Intel
Citigroup MetLife
Dow Inc.  

 

Southern Poverty Law Center’s “Hate Map” 

Alphabet PayPal
Amazon Salesforce
Mastercard Starbucks
Meta