Shareholder Resolutions on Political Spending

Harvard Law School’s Forum on Corporate Governance has this post, based on information from Institutional Shareholder Services, Inc., on shareholder resolutions regarding corporate political spending during the 2022 proxy season:

More shareholder resolutions were filed in the 2022 proxy season than in the previous year, with 586 environmental and social proposals submitted at U.S. companies so far, compared with 561 in 2021. Though many have since been withdrawn, many have been or will be voted on. According to data from ISS Corporate Solutions, 569 shareholder resolutions on ESG issues have either been voted on or are pending in annual meetings through November this year….

There were a number of different kinds of resolutions focused on political spending, all trying to get at slightly differing types of information:

– Report on Political Contributions

– Report on Congruency of Political Spending with Company Values and Priorities

– Report on Global Public Policy and Political Influence

– Report on Political Contributions and Expenditures

– Issue Transparency Report on Global Public Policy and Political Influence


Some 19 proposals were filed on political spending in this year’s proxy season, with 16 already coming to a vote. Two of those, (Dollar General Corporation and Twitter, Inc.) received majority support. Overall average support was 34.1%. While the highest level of support was over 50%, the lowest was 4.2% at DISH Network Corporation, a company that is majority owned by insiders.

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