Bentley Systems, Incorporated (BSY)

Environment story

Bentley Systems discloses minimal environmental data. No Scope 1, 2, or 3 emissions metrics are reported in the 10-K. No net-zero target year is disclosed. No renewable energy percentage is disclosed. The company does not report verified decarbonization infrastructure investments. No environmental controversies or resource-related lawsuits are evident in the filing. The company cites AI/ML integration into infrastructure software but does not quantify energy consumption or Scope 3 emissions from increased datacenter usage. Absence of comprehensive climate strategy and emissions transparency results in substantial score reduction. Greenwashing detection: no offset-based claims identified, but lack of supply-chain emissions disclosure suggests potential underreporting of Scope 3 footprint (likely >70% of total carbon), triggering environmental cap.

Social story

Bentley Systems discloses no CEO-to-median-worker pay ratio, no workforce turnover rate, no union standing, and no leadership diversity percentages in the 10-K. Supply-chain audits, human-rights hazard mitigation, and labor relations data are not reported. The company mentions reliance on global channel partners (6% of revenue) and acknowledges potential liability if partners violate laws or misrepresent products, but no systematic supply-chain ethics audit is evident. No documented union-suppression activities or recent strikes are disclosed. No DEI program metrics or pay-equity commitments are disclosed. Lack of transparency on social metrics prevents robust scoring; absence of documented controversies prevents deduction, but material omissions suggest gaps in social governance.

Governance story

Bentley Systems exhibits significant governance concerns. Dual-class share structure concentrates voting control: Class A common stock (held by Bentley Control Group) carries 29 votes per share; Class B (publicly traded) carries 1 vote per share. As of December 31, 2025, Bentley Control Group holds ~53.5% of voting power, enabling supermajority control of all stockholder matters. This violates governance best practices and triggers a 20-point deduction. Board independence percentage is not disclosed in the filing; no details on board composition, independence ratios, or committee structure are provided. Lobbying expenditure is not disclosed. No antitrust, SEC consent decrees, or major regulatory fines are reported, but the company acknowledges exposure to FCPA, export-control compliance, product-liability litigation risk, and potential AI-regulation enforcement. Company is classified as a 'controlled company' under Nasdaq rules, exempting it from certain governance standards. Credit Facility contains event-of-default trigger if Bentley Family ownership falls below 20%, further entrenching family control and limiting minority shareholder influence.

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of Bentley Systems, Incorporated. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open Bentley Systems, Incorporated in the app for interactive charts and portfolio building.

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