Javier Ghersi/Getty Images
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.
Experts
Corporate Governance & Accountability
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 | Lockheed Martin |
| American Express | Merck |
| CEI100 Companies | Philip Morris International |
| Corning Inc. | Regeneron |
| Dell | RTX |
| General Electric | S&P Global |
| Humana | Tetra Tech |
| IBM | Valero Energy |
| Johnson & Johnson |
ESG & DEI in Executive Pay
| The Allstate Corporation | Dominion Energy |
| Best Buy | General Motors Company |
| Consolidated Edison | Norfolk Southern |
| CSX Corporation |
Companies with Unmitigated China Risk
| Citigroup | Intel |
| Dow Inc. | MetLife |
Southern Poverty Law Center’s “Hate Map”
| Alphabet | PayPal |
| Amazon | Salesforce |
| Mastercard | Starbucks |
| Meta |
Discrimination in Charitable Support
| Airbnb |
Press
- Visit the Environmental, Social, and Governance (ESG) Issue Page for the latest content.
