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Record number of US businesses change focus on political spending after Jan.6 attack

NEW YORK, Nov. 29 (Reuters) – The number of S&P 500 companies that have stopped their political donations or are considering disclosing them reached a record high in 2021 after the Jan. 6 attack on the United States Capitol and the United States. recent protests for social justice, according to a study consulted by Reuters.

According to the Center for Political Accountability study, US companies see new risks in political donations in light of the country’s hyper-partisan environment, leading companies to suspend or disclose contributions. The center campaigns for corporate transparency.

“Angry political unrest and conflict has defined the past two years,” according to the study, which cites as examples the violent assault on the U.S. Capitol, the two-time impeachment of former President Donald Trump and the cancellation of the 2020 elections. “In these explosive times, companies are taking action.

“They adopted policies of political spending to avoid or mitigate the increased risks,” according to the study.

Political spending came under closer scrutiny earlier this year after a series of large corporations suspended contributions to lawmakers who voted against President Joe Biden’s electoral certification. L1N2JN2ZQ

At the same time, some companies, such as Delta Air Lines Inc (DAL.N), speak openly on social and political issues, including voting rights. L1N2OP2UL

The new study found that 370 companies disclose all or part of their political spending, or ban at least one type of it, such as contributions to business associations. This figure is up from 332 companies last year. L1N2H31BW

The Center for Political Accountability considers disclosure or outright prohibition to give a prominent corporate governance political mark, said Bruce Freed, group chairman.

The study found that one of the most significant changes in the past six years among businesses has been related to so-called “black money” groups, which are tax-exempt organizations that influence policy. Between 2015 and 2021, the number of companies that ban or disclose contributions to these organizations increased by almost 100%.

Intel Corp (INTC.O) was highlighted by the study for adopting a corporate political contribution policy stating that the chipmaker reviews voting records and public statements from recipients, and will communicate directly with them.

The study also highlighted video game maker Activision Blizzard Inc (ATVI.O) and artificial intelligence computing company NVIDIA Corp (NVDA.O), among others, for improving their policies by banning payments to consumers. “black silver” groups.

Our Standards: Thomson Reuters Trust Principles.

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