Watchdog and Wharton center release their latest study that tracks companies’ disclosures of political spending
As the U.S. continues to look polarized politically, a growing number of S&P 500 companies have made the effort to earn the highest scores from a watchdog organization that’s focused on transparency in corporate political spending.
“The big jump this year from 89 to 100 reflects that companies see the political climate as hyper-polarized, as presenting real challenges,” said Bruce Freed, CPA’s president. “Having robust transparency and accountability scores helps them in terms of their public image, but it also helps them internally because now they’re putting in place policies that govern how they’ll engage in spending and how they will be able to manage the risk.
Some companies in that group already had relatively high scores and determined to make an extra push to attain the top scores, according to Dan Carroll, CPA’s counsel and vice president for programs. The latest study from CPA and the Zicklin Center also found a record 78% of S&P 500 companies fully or partially disclosed their political spending in 2023 or prohibited at least one type of spending. But there were repeat 24 “Basement Dwellers” as well, meaning companies that received scores of 0% last year and again this year, such as Tesla TSLA, -4.79% and Dish Network DISH, +2.14%.
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