FFC Supports Transparency Initiative

July 15, 2013

Friends Fiduciary joined U.S., U.K. and European investors representing $211 billion in assets in urging major international corporations toward greater transparency in political lobbying and donations to trade associations, think-tanks, and other special interest groups. As Quaker investors, FFC supports the view expressed by the International Corporate Governance Network that “it is a matter of good corporate governance for companies to ensure that any political involvement is both legitimate and transparent, and that companies and their boards are held properly to account for their political activities.” In addition, citing potential reputational and other risks, the request encourages these corporations to annually disclose their:  lobbying activities; memberships in and payments to third party organizations; and the criteria for evaluating those memberships and the compatibility of third party organizations with the company’s stated policies and principles. To read the full letter, click here.