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AT&T says shareholders voted down a proposal that would have forced it to explain why it gives money to politicians whose actions conflict with the company’s values.
About 55% of shareholders voted against the activist proposal at the company’s annual meeting Thursday.
Since the Jan. 6, 2021, insurrection, a growing contingent of progressive and pro-democracy groups have emphasized that AT&T’s public stances on female empowerment, equity and democracy directly conflict with some of the Republican leaders and policies it supports.
Those groups have criticized AT&T’s gifts to far-right officials who support restrictions on voting and women’s reproductive rights, calling the company’s political activity a risk to its reputation with consumers.
Dallas-based AT&T has argued that its gifts to far-right politicians are justified because it also gives to Democrats.
In a previous statement in which the company advised shareholders to vote against the proposal, AT&T said it participates in the political process “in a bipartisan manner to support policies that sustain and grow our business and create stockholder value.”
The proposal was made by activist shareholder group As You Sow. Though the proposal failed, the group issued a statement Thursday describing the 44% vote in favor of the resolution as a “firm rebuke” of AT&T’s political involvement.
“AT&T believes it needs to be involved in politics; we’re not arguing with that point. It is hard to see why, however, it is not managing the risks involved with supporting politicians that sit so clearly outside of its own company values,” As You Sow consultant Meredith Benton said in a statement.
A report from watchdog group Accountable.US published Thursday ahead of the AT&T annual meeting found that the company donated $244,000 since 2021 to Texas politicians who supported the state’s restrictive voting bills. The new voting laws have resulted in hundreds of mail-in ballot applications being rejected already this year, alarming election officials.
The report also found that as of March, AT&T had donated $96,000 to members of the so-called Republican “Sedition Caucus” that voted against certifying the 2020 election results.
“A healthy democracy will always be what’s best for business, and it’s time that AT&T proves what side it’s on,” Accountable.US president Kyle Herrig said in a statement this week.
At the annual meeting, shareholders also voted down changes to executives’ pay, an independent board chairman and a civil rights and nondiscrimination audit.
But pressure from activist groups and unions isn’t likely to die down soon.
Activists have recently organized protests calling on AT&T to stop funding voter suppression at the AT&T-sponsored Byron Nelson golf tournament. And this week, activist nonprofit group Greenpeace helped organize protests at some of the company’s flagship stores.
Like many large corporations, AT&T pledged to stop donating to Republican election objectors immediately after the insurrection. It was later reported to have given thousands to PACs tied to those same politicians. Other companies, including Plano-based Toyota North America, faced similar pressure to stop donating to Republicans who denied election results.
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May 21, 2022 at 02:26AM
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