Supporting Statement: Corporations routinely use their platforms to voice support for humanitarian causes and human rights. Unfortunately, many companies provide funds, data, or other resources to advocacy groups leading highly controversial social campaigns — particularly on gender and sexuality— often backing only one side of the debate. Such one-sided support alienates significant portions of their customers, employees, and shareholders and exposes companies to reputational, market, and legal risk. 1 3 One notable example is that of Home Depot, which has a score of 45 on the Human Rights Campaign’s Corporate Equality Index. The Human Rights Campaign is a leading driver in getting companies to promote transgender activism. To get this score on the Corporate Equality Index, a company ostensibly confirms its coverage of radical adolescent transgender treatments recommended by the World Professional Association for Transgender Health (WPATH), a group widely criticized for its ideological bias and lack of scientific rigor. These treatments include gender transition surgery, cross-sex hormone therapy, menstruation suppression, and puberty blockers. 4 5 2 Supporting this activism may alienate Home Depot employees who have religious or other moral objections to supporting these kinds of radical treatments with their healthcare premiums. Given Home Depot’s previously stated assertions that a “diverse workforce strengthens our competitive advantages,” questions about whether the company’s charitable partnerships respect diversity of perspectives must be answered, and with a mind to business-first political neutrality. 6 Furthermore, Home Depot’s score on the HRC’s Corporate Equality Index implies that the company covers highly controversial healthcare practices, including the coverage of “hormone replacement therapies.” This would be a critical liability question for any company. But given Home Depot’s previous struggles with brand 7 politicization, including controversies over the company’s diversity, equity, and inclusion policies, and even past partnerships with the HRC regarding gender curriculums aimed at children, this point is doubly concerning to Home Depot investors. 8 9 10 Home Depot is a major name in American retail. Its brand value has been estimated at more than $65 billion, 18 percent of its approximately $355 billion market cap. Given Home Depot’s public prominence, its score on activist rating systems like the Human Rights Campaign’s index, and its past brand controversy tied to association with such highly controversial groups like HRC, investors are right to be concerned about what further brand politicization could do to company performance. Many companies, including Lowes, John Deere, Tractor Supply, and Ford, have already refocused their charitable support in a manner that acknowledges the diverse views held by their customers and employees. Many have explicitly cut ties with groups such as the Human Rights Campaign as a part of this effort. Home Depot should do the same.