skip to Main Content

Major investor coalition seeks disclosure of US corporate lobbying expenditure

A group of US investment institutions have filed shareholder resolutions at 40 companies calling on them to report on their spending on direct lobbying and lobbying via trade associations. The group wants greater transparency on how companies influence regulation and law-making. Backers of the initiative include investors such as the $134bn (€104bn) New York State Common Retirement Fund, Walden Asset Management, the AFSCME Employees Pension Plan, PAX World Fund and the Tides Foundation. The coalition has been organised by Walden and the AFSCME and also includes faith-based investors such as Christus Health, Catholic Health East, the Sisters of St. Joseph of Boston, the Sisters of Notre Dame and Mercy Investment Services. Among the companies targeted are household names like AT&T, Bank of America, Chevron, Coca-Cola, Goldman Sachs, Johnson & Johnson, J.P. Morgan Chase, PepsiCo and UPS. “This year investors have taken a logical next step and asked companies to disclose their direct and indirect lobbying activities,” said Timothy Smith, Director of Environmental, Social and Governance Shareowner Engagement at Walden. More…

News selected by Covalence | Country: USA | Company: AT&T, Bank of America, Chevron, Coca-Cola, Goldman Sachs, Johnson & Johnson, J.P. Morgan Chase, PepsiCo,  UPS | Source: Responsible Investor

Back To Top