PepsiCo Agrees to Disclose Lobbying, Political Spending

State Comptroller Tom DiNapoli announced last week that PepsiCo has agreed to disclose all of its direct lobbying, the contributions it makes to trade associations, funding for grassroots lobbying as well as to tax-exempt organizations that write and endorse model legislation.

The Comptroller has used his position as the sole trustee of the NYS Common Retirement Fund to compel disclosure of political spending by companies in which the fund is invested.

According to the Comptroller, in 2011 and 2012, the fund filed 27 shareholder resolutions seeking disclosure of political spending, reaching agreement with 10 companies, according to the comptroller’s office. This year, DiNapoli has filed 26 such resolutions and has reached agreement with several companies, including KeyCorp.

Read my prior posts about the Comptroller’s efforts here and here.