STERICYCLE, INC. | Improve political spending disclosure at STERICYCLE, INC.

Status
19.33% votes in favour
AGM date
Proposal number
5
Resolution details
Company ticker
SRCL
Lead filer
Individual
Resolution ask
Report on or disclose
ESG theme
  • Governance
ESG sub-theme
  • Lobbying / political engagement
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Industrials
Company HQ country
United States
Resolved clause
"Resolved, that the shareholders of Stericycle request that the Company provide a report, updated semiannually, disclosing the
Company’s:
1. Policies and procedures for making, with corporate funds or assets, contributions and expenditures (direct or indirect) to
(a) participate or intervene in any campaign on behalf of (or in opposition to) any candidate for public office, or (b) influence the
general public, or any segment thereof, with respect to an election or referendum.
2. Monetary and non-monetary contributions and expenditures (direct and indirect) used in the manner described in section 1
above, including:
a. The identity of the recipient as well as the amount paid to each; and
b. The title(s) of the person(s) in the Company responsible for decision-making.
The report shall be presented to the board of directors or relevant board committee and posted on the Company's website within 12
months from the date of the annual meeting. This proposal does not encompass lobbying spending."
Supporting statement
"Supporting Statement
As a long-term shareholder of Stericycle, I support transparency and accountability in corporate electoral spending. This includes any
activity considered intervention in a political campaign under the Internal Revenue Code, such as direct and indirect contributions to
political candidates, parties, or organizations, and independent expenditures or electioneering communications on behalf of federal,
state, or local candidates.
A company's reputation, value, and bottom line can be adversely impacted by political spending. The risk is especially serious when
giving to trade associations, Super PACs, 527 committees, and “social welfare” organizations – groups that routinely pass money to or
spend on behalf of candidates and political causes that a company might not otherwise wish to be associated with.
The Conference Board’s 2021 “Under a Microscope” report details these risks, recommends the process suggested in this proposal,
and warns “a new era of stakeholder scrutiny, social media, and political polarization has propelled corporate political activity—and the
risks that come with it—into the spotlight. Political activity can pose increasingly significant risks for companies, including the perception
that political contributions—and other forms of activity—are at odds with core company values.”
This proposal asks Stericycle to disclose all of its electoral spending, including payments to trade associations and other tax-exempt
organizations which may be used for electoral purposes–and are otherwise undisclosed. This would bring Stericycle in line with a
growing number of leading companies, including General Electric, Northrop Grumman, and Fortive Corp., which present this
information on their websites.
Without knowing the recipients of our company's political dollars Stericycle directors and shareholders cannot sufficiently assess
whether our company's election-related spending aligns or conflicts with its policies on climate change and sustainability, or other areas
of concern. I urge your support for this important governance reform."

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