British American Tobacco Plc | Authority to make donations to political organisations and to incur political expenditure at British American Tobacco Plc..

Status
AGM passed
AGM date
Previous AGM date
Proposal number
16
Resolution details
Company ticker
BATS
Lead filer
Momentum Metropolitan Life Ltd
Resolution ask
Other ask
ESG theme
  • Governance
ESG sub-theme
  • Lobbying / political engagement
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Consumer Staples
Company HQ country
United Kingdom
Supporting materials
  • KPMG Notice-of-Annual-General-Meeting-2025.pdf Download
Resolved clause
Momentum does not support corporate donations to political parties. We believe such contributions pose material risks to corporate integrity, may compromise stakeholder trust, and can lead to misalignment with long-term shareholder interests. In line with our commitment to transparency, good governance, and responsible corporate citizenship, we advocate for the exclusion of political party donations from corporate expenditure.
Whereas clause
The Act requires shareholder approval for donations by companies to: a. registered political parties; b.other political organisations; and c. independent election candidates, totalling more than £5,000 in any 12-month period. Shareholder approval is also required for any political expenditure (subject to limited exceptions). What constitutes a political donation or political expenditure in this context is very wide and is open to interpretation. Sponsorship, subscriptions and payment of expenses could all be in scope. It could also extend to donations and contributions to bodies concerned with policy review, law reform and the representation of the business community. In addition, it could include special interest groups, such as those involved with the environment, which the Company and its subsidiaries might wish to support, even though these activities are not designed to support or influence support for a particular political party. The existing authority for these payments expires at the end of the Company's 2025 AGM. The Company's policy is still not to make political donations or incur political expenditure as those expressions are ordinarily understood. However, the Directors consider that it is in the best interests of the shareholders for the Company to participate in public debate and opinion-forming on matters which affect its business. To avoid inadvertently infringing the Act, the Directors are seeking authority for the Company and its subsidiaries to make political donations and to incur political expenditure during the period from the date of the AGM in 2025 to the end of the AGM in 2026 or at the close of business on 16 July 2026 (whichever is earlier). This is subject to a maximum aggregate amount of £100,000.

How other organisations have declared their voting intentions

Organisation nameDeclared voting intentionsRationale
Momentum Metropolitan Life LtdAgainstMomentum does not support corporate donations to political parties. We believe such contributions pose material risks to corporate integrity, may compromise stakeholder trust, and can lead to misalignment with long-term shareholder interests. In line with our commitment to transparency, good governance, and responsible corporate citizenship, we advocate for the exclusion of political party donations from corporate expenditure.

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.