CIGNA CORPORATION | Political Contributions Misalignment at CIGNA Corporation

Status
46.27% votes in favour
AGM date
Previous AGM date
Proposal number
6
Resolution details
Company ticker
CI
Resolution ask
Report on or disclose
ESG theme
  • Social
ESG sub-theme
  • Corporate purpose
  • Lobbying / political engagement
  • Public health
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Health Care
Company HQ country
United States
Resolved clause
Shareholders request that Cigna publish an annual report, at reasonable expense, analyzing the congruence of political, lobbying, and electioneering expenditures during the preceding year against publicly stated company values and policies, listing and explaining any instances of incongruent expenditures, and stating whether the identified incongruencies have led to a change in future expenditures or contributions.
Whereas clause
Cigna has stated that CignaPAC supports candidates who advance public policies that will help realize our vision of a more affordable, predictable and simple health care system for all Americans. CignaPAC considers a variety of criteria in funding decisions, such as committee assignments and leadership positions; geographic concentration of Cigna employees in a district or state; key business markets; candidates’ views on specific or emerging business issue(s); and candidates’ viability. In addition, some considerations are so foundational that they transcend all matters of public policy; accordingly, CignaPAC’s contribution strategy reflects Cigna’s commitment to value diversity and inclusion, as well as equity and equality, and CignaPAC will discontinue support of any elected official who encourages or supports violence. However, Cigna’s political expenditures appear to be misaligned with the company’s values and vision. In January 2021, Cigna pledged to discontinue support to the 147 members of Congress who voted against certifying the election results yet has continued to support political committees that fundraise for them. Cigna also contributed to Georgia lawmakers who enacted legislation making it more difficult to access absentee voting ballots. Cigna has consistently supported 527 organizations leading efforts to strike down the Affordable Care Act, which has made prescription drugs more accessible for millions, and contributes to PhRMA, which supports numerous organizations opposing efforts to reform drug pricing. Cigna promotes gender equity in the workplace, and more than three-quarters of its workforce is female. Yet in the 2016-2020 election cycles, Cigna and its employee PACs have donated at least $3.4 million to politicians and political organizations working to weaken women’s access to reproductive health care. These include lawmakers who sponsored Texas SB8, which creates potential liability for organizations that insure in-state abortions after approximately 6 weeks of pregnancy. Large majorities of college-educated workers say the ability to control when and if to become a parent has been important to their career path. Proponents believe that Cigna should establish policies and reporting systems that minimize risk to the firm’s reputation and brand by addressing possible missteps in corporate electioneering and political spending that contrast with its stated objectives.
Supporting statement
Proponents recommend that such report also contain management’s analysis of risks to our company’s brand, reputation, or shareholder value of expenditures in conflict with publicly stated company values. Expenditures for electioneering communications means spending, from the corporate treasury and from the PACs, directly or through a third party, at any time during the year, on printed, internet or broadcast communications, which are reasonably susceptible to interpretation as in support of or opposition to a specific candidate.

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