Abbott Laboratories | Lobbying Expenditures Disclosure at Abbott Laboratories

Status
34.52% votes in favour
AGM date
Previous AGM date
Proposal number
7
Resolution details
Company ticker
ABT
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
Health Care
Company HQ country
United States
Resolved clause
Shareholders request the preparation of a report, updated annually, disclosing: 1. Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications.; 2. Payments by Abbott used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient.; 3. Abbott's membership in and payments to any tax-exempt organization that writes and endorses model legislation.; 4. Description of management's decision-making process and the Board's oversight for making payments described in section 2 above.
ich Abbott is a member.

The report shall be presented to the Public Policy Committee and posted on Abbott's website.
Whereas clause
Investors believe in full disclosure of Abbott Laboratories' direct and indirect lobbying activities and expenditures to assess whether Abbott's lobbying is consistent with its expressed goals and in the best interests of stockholders.
Supporting statement
Investors are concerned that Abbott's lack of lobbying disclosure presents significant reputational risk when its lobbying contradicts company public positions. For example, Abbott publicly supported COVID-19 relief efforts, but the Chamber directly lobbied against using the Defense Production Act for production of personal protective equipment for workers. Abbott supports the World Health Organization's goal of increasing breast-feeding rates, its lobbying on attracted scrutiny after the Trump administration blocked a World Health Organization resolution encouraging breastfeeding. And Abbott drew attention and ultimately cut ties with one of its lobbyists over his controversial statements about Black Lives Matter. Investors believe that the reputational damage stemming from these misalignments harms long-term value creation by Abbott.

How other organisations have declared their voting intentions

Organisation nameDeclared voting intentionsRationale
Dana Investment Advisors (Delisted)For

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