Posts Tagged ‘corporate political spending’

Updated Statistics on Political Activity Shareholder Proposal Voting Results

April 24, 2015

A recent opinion piece in The Wall Street Journal asserted that no shareholder proposal on a social or environmental issue has earned a majority vote, presumably counting in this tally those about corporate political activity. This is simply not accurate.

In the last five years alone, 10 proposals about political activity actually have earned support from more than 50 percent of the shares cast for and against; eight of of these votes occurred in 2013 and 2014. Results from the 2015 proxy season are not yet available, but right now investors are set to vote on 68 more proposals–and have already done so at three companies (giving lobbying disclosure proposals 24.5 percent at Monsanto and 39.8 percent at Emerson Electric–and 30.4 percent to a long-running resolution about political spending oversight and disclosure at Emerson).

Attached is a table showing where these votes occurred, as well as –and quite a few more that earned more than 40 percent support. In all, 51 separate votes on these issues since 2010 have garnered support from more than 40 percent of the shares cast.

High Corporate Political Activity Votes, 2010-2014

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Mid-Year 2014 Report on Corporate Political Activity Shareholder Proposals

August 28, 2014

Si2 published for its clients a mid-year report on the record-breaking results from the spring corporate annual meeting season in mid-August, with a detailed analysis of the social and environmental proposals filed during proxy season.  An excerpt from this report that includes information on trends over the last five years and a complete description of all the corporate political activity proposals is now available for download:

Si2 2014 Proxy Season Mid-Year Review – Corporate Political Activity EXCERPT

DISCLOSE Act Statement for Senate Rules Committee Hearing 3-29-12

March 28, 2012

In collaboration with the IRRC Institute, Si2 submitted a statement for the record to the U.S. Senate Committee on Rules and Administration, regarding the committee’s consideration of the DISCLOSE Act of 2012. The statement begins:

In the wake of the landmark Citizens United Supreme Court decision, numerous organizations are providing input on the highly contentious policy debate regarding the disclosure of political expenditures. As the Committee examines each side of the debate and potential legislation, we believe an important element of the decision making process is a careful examination of neutral, nonpartisan data on what companies actually are doing with regard to disclosure of political expenditures. The full statement is attached here: FINAL Statement to S Rules March 2012

Attached to the statement is the November 2011 Si2/IRRC study, Corporate Governance of Political Expenditures – 2011 Benchmark for SP500.