Treasurer Magaziner, Mastercard Reach Agreement on Increased Transparency of Corporate Lobbying Expenses

April 4, 2019: Treasurer Magaziner has successfully resolved a shareholder engagement with Mastercard, following an agreement by the company to significantly increase its public disclosure of lobbying expenses

"As long-term investors in Mastercard we believe that full disclosure of the company's direct and indirect lobbying activities and expenditures will help investors assess whether the Company's lobbying is consistent with its expressed goals and in the best interests of shareholders," said Magaziner.

Last fall, Treasurer Magaziner filed a shareholder proposal with Mastercard requesting that the board of directors annually disclose information regarding payments used for direct or indirect lobbying, including payments to trade associations, as well as disclosing any grassroots lobbying activity.

Investors are increasingly concerned that inadequate lobbying disclosure by publicly-traded companies presents reputational risks. Numerous large companies have angered customers, investors and other stakeholders in recent years when they were revealed to be supporting controversial causes including climate denial and the erosion of consumer protections...

You can read the entire press release here.