Lobbying Expenditures Disclosure | Interfaith Center on Corporate Responsibility

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<h4>Resolution Details</h4>
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<strong>Company:</strong>
<p>MasterCard Incorporated</p>
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<strong>Year:</strong>
<p>2025 </p>
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<strong>Issue Area:</strong>
<p>Lobbying & Political Contributions </p>
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<strong>Focus Area:</strong>
<p>Lobbying </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p class=”p1″><strong>Resolved, </strong>MasterCard shareholders request the preparation of a report, updated annually, disclosing:</p>

Company policies and procedures governing direct and indirect lobbying;
Payments by MasterCard used for direct or indirect lobbying, including in each indirect case the aggregate amount of any payments and the recipient; and
Description of management’s decision-making process and the Board’s oversight for making payments described in section 2 above.

<p class=”p7″>For purposes of this proposal, “indirect lobbying” is lobbying engaged in by a trade association or other organization of which MasterCard is a member or to which it contributes. “Direct and indirect lobbying” include efforts at the territorial, local, state and federal levels, including lobbying outside the United States</p>
<p class=”p7″>The report shall be posted on MasterCard’s website.</p>
<p class=”p10″><strong>Supporting Statement</strong></p>
<p class=”p7″>Fuller disclosure of MasterCard’ s lobbying activities and expenditures is needed to assess whether MasterCard’s lobbying is consistent with its expressed goals and stockholder interests. MasterCard spent $51 million from 2010 – 2023 on federal lobbying. This does not include state lobbying, where MasterCard also lobbies. And MasterCard lobbies abroad, spending between €800,000 – 899,999 on lobbying in Europe for 2023. MasterCard’s lobbying over swipe fees continues to attract media scrutiny.1</p>
<p class=”p7″>Companies can give unlimited amounts to third party groups that spend millions on lobbying.2 MasterCard fails to disclose its payments to trade associations and social welfare groups, or the amounts used for lobbying, to stockholders. MasterCard does provide incomplete disclosure, giving a percent of an unknown amount of dues above $25,000 spent on lobbying for its trade association and social welfare group memberships. This critically leaves out the actual amounts of MasterCard’s payments being spent on lobbying. MasterCard belongs to the Business Roundtable and US Chamber Commerce, which together have spent over $2.3 billion on federal lobbying since 1998, and supports social welfare groups like the Future of Privacy Forum and State Government Affairs Council.</p>
<p class=”p7″>MasterCard’s lack of disclosure presents reputational risk when its lobbying contradicts company public positions. MasterCard supports addressing climate change, yet the Business Roundtable filed an amicus brief opposing the Securities and Exchange Commission climate risk disclosure rules3 and the Chamber opposed the, Paris climate accord.</p>
<p class=”p15″>Fuller disclosure of lobbying policies, expenditures, and decision-making processes would allow shareholders to evaluate the risks created by MasterCard’s lobbying activities. Improved MasterCard lobbying spending disclosure will protect the reputation of MasterCard and preserve shareholder value.</p>
<p class=”p1″>1 https://www.politico.com/newsletters/politico-influence/2024/10/16/swipe-fee-opponents-lame-duck-lobbying-blitz-00184018.</p>
<p class=”p2″>2   https://theintercept.com/2019/08/06/business-gro up-spending-on-lobbying-in-washington-is-at-least-double-whats-pub  Iicly reported/.</p>
<p class=”p3″>3  https://www.eenews.net/articles/investors-question-busin ess-roundtables-climate-rule-battle/.</p>

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<h3>Lead Filer</h3>
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<div class=”views-field views-field-nothing”><span class=”field-content”> John Chevedden</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Chevedden Corporate Governance</span></div>
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