US - The New York city pension funds have called on Halliburton Corporation to disclose its policies and procedures for all political contributions using corporate monies.
In a continued lobby for companies to up their disclosure, NYC comptroller William Thompson submitted a shareholder resolution to Halliburton to this effect.
The NYC funds hold Halliburton shares valued at US$32m.
Thompson explained the disclosure was needed for shareholders to fully evaluate the political use of the corporate assets.
“We are calling on Halliburton to let its shareholders have a voice in charting the future for this critical governance reform,” the comptroller said.
“Companies must be more accountable to their shareholder and the public,” he stated.
The funds have demanded Halliburton disclose all of its contributions made to political candidates or committees using corporate funds.
In December 2006, Thompson had submitted resolutions to 10 companies making the same request. Eight of those companies had contributed $667,500 in soft dollars to political activities during 2003-2004, the last fully reported election cycle.
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