More big companies agree to disclose political spending.

• Author: Marshall, Jeffrey
• Position: GOVERNANCE

It's a big year in politics, and more companies are agreeing to provide increased political disclosure. Abode Systems Inc., United Parcel Service Inc. and United Technologies Corp are among the companies that recently agreed to report their trade association payments used for political purposes as part of their overall disclosure and board oversight of political spending with corporate funds. Moreover, Praxair Inc. has agreed to implement more disclosure of its political spending.

The four corporations join 34 other major public companies that have adopted political transparency and accountability policies since the Washington-based Center for Political Accountability (CPA) launched an effort to promote such disclosure in late 2003, according to shareholder advocates tracking the developments. Two other groups, the New York City Pension Funds and Walden Asset Management, are part of a nationwide effort to bring transparency and accountability to company political spending.

The list of companies now reporting such politically related spending includes such household names as McDonald's Corp., Bristol-Myers Squibb Co., Staples Inc., General Mills Inc., PepsiCo Inc., Coca-Cola Co., Johnson & Johnson Co., Pfizer Inc., General Motors Corp., Intel Corp. and General Electric Co.

Adobe, Praxair and UPS adopted their new policies following discussions with Walden Asset Management. UTC reached an agreement with New York City Employee Pension Funds. As part of the agreements, the boards of directors at all four...