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Tue, 11/01/2011 - 13:59 | by Adam Kanzer
November 1, 2011
Domini Asks SEC to Require Corporate Political Transparency
As corporations increasingly spend more and more to influence the outcome of elections and to shape public policy, the demand for corporate political accountability is growing. Currently, after a concerted multi-year shareholder campaign, 88 major public companies voluntarily disclose their political spending policies and actual political payments. An SEC regulation requiring disclosure of corporate political spending would enable investors, corporate managers, and corporate directors to assess the true risks posed by unaccountable corporate political spending. Domini is concerned that undisclosed corporate political spending presents risks to our investments, our economy and our democracy.
In August, the Committee on the Disclosure of Corporate Political Spending, which is comprised of ten leading experts in the field of corporate and securities law, submitted a rulemaking petition to the SEC requesting that the Commission enact a rule requiring corporations to disclose to shareholders the use of corporate resources for political activities.
In response, Domini sent a letter to the SEC in support of the petition, laying out detailed recommendations. Our letter was signed by an international coalition of investment professionals representing more than $690 billion in assets under management.
- Comment letter submitted to the SEC by Domini
Interview with Domini: Investors Call on SEC to Regulate Corporate Political Spending
Rulemaking petition filed by the Committee on the Disclosure of Corporate Political Spending
Other recent Domini initiatives on corporate political spending: