Pinnacle West

Pinnacle West is one of the largest electric utilities in the world. It serves more than one million customers in about 11 counties, but is mainly concentrated in northern and central Arizona.

Pinnacle West Investors Representing $1.4 Billion Support As You Sow Proposal for Political Spending Disclosure

Shareholders Push Utility for Transparency on Anti-Climate Lobbying

In a strong referendum on corporate political spending, investors representing $1.4 billion in shares voted in support of lobbying transparency at Pinnacle West’s annual shareholder meeting. A total of 30.8% of voting shares supported the resolution, filed by As You Sow.

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Arizona Public Service (APS), a subsidiary of Pinnacle West, has been embroiled in controversy stemming from its ongoing political spending on anti-solar candidates and policy in Arizona since 2013, when it was discovered to have funded an anti-solar media campaign. The vote followed a controversial shareholder meeting where Pinnacle West executives defended their political spending, while some shareholders were barred from entering.

Coal 2017

STATUS: Withdrawn; Company will address

RESOLVED: Shareholders request that Pinnacle West prepare a public report fully disclosing monetary and in-kind expenditures on political activities that cannot be deducted as an “ordinary and necessary” business expense under section 162(e) of the Internal Revenue Code because they are incurred in connection with: (a) influencing legislation, (b) participating or intervening in any political campaign on behalf of (or in opposition to) any candidate for public office, and (c) attempting to influence the general public, or segments thereof, with respect to elections, legislative matters, or referenda. Shareholders request that the report detail any:

  • contributions to, or expenditures in support of or in opposition to, political candidates, committees, and parties;
  • dues, contributions, or other payments made to tax-exempt organizations operating under sections 501(c)(3), 501(c)(4), and 527 of the Internal Revenue Code, respectively, including tax-exempt entities that write model legislation, and non-profit groups organized to promote “social welfare”;
  • portion of dues or other payments made to tax-exempt entities that are used for an expenditure or contribution and that would not be deductible under section 162(e) of the Code if made directly by the Company.
The report should identify all recipients of Company funds, and amounts paid to each.

Filing Documents

Related 2017 Engagements

Climate Change 2016

STATUS: 34.5%

BE IT RESOLVED: Shareholders request that Pinnacle West prepare a public report, updated and presented to the appropriate Board committee annually, disclosing monetary and in-kind expenditures on political activities that cannot be deducted as an “ordinary and necessary” business expense under section 162(e) of the Internal Revenue Code (the “Code”) because they are incurred in connection with: (a) influencing legislation, (b) participating or intervening in any political campaign on behalf of (or in opposition to) any candidate for public office, and (c) attempting to influence the general public, or segments thereof, with respect to elections, legislative matters, or referenda. Shareholders request the report detail: • contributions to or expenditures in support of or opposition to political candidates, political parties, political committees; • dues, contributions or other payments made to tax-exempt “social welfare” organizations and “political committees” operating under sections 501(c)(4) and 527 of the Code, respectively, and to tax-exempt entities that write model legislation and operate under section 501(c)(3) of the Code; and • the portion of dues or other payments made to a tax-exempt entity such as a trade association that are used for an expenditure or contribution and that would not be deductible under section 162(e) of the Code if made directly by the Company. The report shall identify all recipients and amounts paid to each recipient from Company funds.

Filing Documents

Related 2016 Engagements

Climate Change 2015

STATUS: 30.8%

BE IT RESOLVED: That the shareowners of Pinnacle West request the Board authorize the preparation of a report, updated annually, disclosing: (1) Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications. (2) Payments by Pinnacle West used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient. (3) Pinnacle West's membership in and payments to any tax-exempt organization that writes and endorses model legislation. Description of the decision making process and oversight by management and the Board for making payments described in sections 2 and 3 above.

Filing Documents

Press

Find more Pinnacle West 2015 press coverage and press releases.

Related 2015 Engagements