Home Depot Shareholder Proposal Proxy Memo Condemns Donations to Election Objectors That Contradict The Company’s Stated Values
WASHINGTON, D.C. – A Home Depot shareholder proposal has been submitted to the SEC requesting that the company publishes a report, at least annually, “analyzing the congruence of political and electioneering expenditures during the preceding year against publicly stated company values and policies.” A proxy memo in support of the proposal from Tara Health Foundation cites data from government watchdog Accountable.US showing Home Depot was the largest Fortune 500 corporate contributor, donating $360,000 to the members of Congress that voted against certifying the 2020 election – a group that has been dubbed the Sedition Caucus.
Tara Health also points to Home Depot’s response to Accountable.US’ findings that they led the pack with a statement effectively declaring their willingness to support any lawmaker they deem pro-business no matter what extreme views they hold.
Home Depot may have thought no one would notice when they continued pouring money into those in Congress who tried to finish what the insurrectionists started – but some shareholders were quick to object,” said Kyle Herrig, president of Accountable.US. “What Home Depot is forgetting is that a healthy democracy will always be what’s best for business. But if major corporations want to support politicians that undermine our democracy, they have to be honest about it to their customers, shareholders and employees.”
The resolution comes on the heels of a recent AT&T shareholder proposal calling on the company’s hypocrisy, including protecting the freedom to vote. The proposal cites research from Accountable.US finding AT&T’s PAC contributed $132,500 to pro-voter suppression Texas state lawmakers the month before a special July 2021 session to vote on a major bill making it much harder for people of color and those with disabilities to vote. Read more here.