Organization: FedEx Corporation

Year: 2015

Whereas: Whereas: In Citizens United v. Federal Election Commission, the Supreme Court interpreted the right to freedom of speech to include certain corporate political expenditures involving 'electioneering communications,' which resulted in greater public and shareholder scrutiny; The Conference Board Handbook on Corporate Political Activity (2011) recommends corporations review their political expenditures to 'examine the proposed expenditures to ensure that they are in line with the company's values and publicly stated policies, positions, and business strategies and that they do not pose reputational, legal, or other risks to the company'; Political contributions made by the company include inconsistencies between donations and corporate values. According to the Center for Political Accountability (CPA), FedEx Corporation and FedExPAC together have spent more than $4 million on political activities since 2002, all without comprehensive disclosure. According to CPA, 'these gaps in transparency and accountability may expose the company to reputational, legal and business risks that could threaten shareholder value'; FedEx's Environmental Policy Statement declares that 'FedEx recognizes that the long-term health of our business is directly connected to the health of the planet and local communities.' Yet since 2009, FedExPAC, alone, has designated over a quarter of its contributions to politicians voting against the American Clean Energy and Security Act of 2009 and for deregulating greenhouse gases; FedEx's nondiscrimination policy states that we 'will not tolerate ... discrimination of any kind involving ... gender, sexual orientation, gender identity, gender expression ...' Yet since 2009, FedExPAC, alone, has designated more than 40% of its contributions to politicians voting against hate crimes legislation and the repeal of Don't Ask Don't Tell, and sponsoring the Federal Marriage Amendment Act, which would eliminate equal marriage rights across the nation. Resolved: Shareholders request that the Board of Directors report to shareholders annually at reasonable expense, excluding confidential information, a congruency analysis between corporate values as defined by FedEx's stated policies (including our Environmental Policy Statement and our nondiscrimination policy) and Company and FedExPAC political and electioneering contributions, including a list of any such contributions occurring during the prior year which raise an issue of misalignment with corporate values, and stating the justification for such exceptions.

Resolved: Resolved: Shareholders request that the Board of Directors report to shareholders annually at reasonable expense, excluding confidential information, a congruency analysis between corporate values as defined by FedEx's stated policies (including our Environmental Policy Statement and our nondiscrimination policy) and Company and FedExPAC political and electioneering contributions, including a list of any such contributions occurring during the prior year which raise an issue of misalignment with corporate values, and stating the justification for such exceptions.

Supporting Statement:Supporting Statement: Proponents recommend that Company management develop coherent criteria for determining congruency, such as identifying legislative initiatives that are considered most germane to core company values, and that the report include management's analysis of risks to our company's brand, reputation, or shareholder value, as well as acts of stewardship by the Company to inform funds recipients' of company values, and the recipients' divergence from those values, at the time contributions are made. 'Expenditures for electioneering communications' means spending directly, or through a third party, at any time during the year, on printed, internet or broadcast communications, which are reasonably susceptible to interpretation as in support of or opposition to a specific candidate.'