On the one-year anniversary of the Capitol storming The New York State Comptroller filed eight shareholder proposals with U.S. issuers, seeking enhanced disclosure of their corporate political spending.

The Comptroller filed shareholder proposals at Twitter, Dish Network, The Progressive Corp., Royal Caribbean Cruises, Las Vegas Sands, Ulta Beauty, VeriSign, and Hanesbrands on behalf of the New York State Common Retirement Fund on January 6, urging each company to comprehensively disclose payments made to any campaign or electoral candidate.

Since the filings, the Comptroller reached an agreement with Hanesbrands to disclose all of its political spending in its annual reporting. In response to the agreement, the fund withdrew its shareholder proposal.

“The increased polarization of our political discourse and the January 6 attack on the Capitol show just how risky it can be for companies to fund political agendas,” said Thomas DiNapoli, trustee of the New York State Common Retirement Fund, in a press release. “In the current climate, with our democracy itself under attack, corporations have to question whether any spending on political causes is in shareholders’ interests.”

In 2021, all five of the Comptroller’s political spending disclosure shareholder proposals reached successful outcomes. Molson Coors Beverage, FirstEnergy, and CMS Energy all agreed to disclose their political spending.

Proposals subject to a vote at Royal Caribbean Cruises and Duke Energy received 52.9% and 51.9% support, respectively, Proxy Insight Online data reveal.

In September 2021, the Comptroller also sent letters to 16 other companies seeking political spending disclosure, including Nasdaq, Dollar General, and Textron. The fund revealed it is currently engaging with these companies and expects to “announce additional agreements to disclose political spending in the weeks ahead.”