According to a new survey by The Conference Board, the environment for corporate political participation in 2022 could only pick up steam.
Government relations executives and Political Action Committee (PAC) managers stopped political contributions and revaluated their policies, in the aftermath of the events arising in the Capitol on 6 January 2021. 87% expect the overall corporate political environment in 2022 to be as difficult as 2021, 42% believe it will be tougher.
The pressure to take a stand on new political/social issues in 2021 was most challenging, according to 77%. In 2021, 24% of PAC managers ceased contributions after 6 January 2021 and 31% reinstated contributions in Q2 of the year. Further, 51% of PACs changed the conditions for PAC contributions and 48% prioritised educating employees on PAC.
Transparency and screening external affiliations were prioritised by most companies, with 45% improving transparency surrounding corporate political giving and lobbying activity. In 2022, 60% of PACs have no plans to change their policies, while 25% are unsure. PACs plan to increase education among employees (84%), senior management (76%), the board (48%), and investors (15%).
[10 minute read]
