TheCorporateCounsel.net

Last month, the Business Roundtable issued a brief statement entitled, “Voting is the Bedrock of Our Democracy,” which says:

“Voting is a fundamental right of American citizens. The strength of our nation’s democracy and the stability of America’s economy depend on free and fair elections.

“As voting in the 2024 election continues, Business Roundtable strongly encourages all eligible citizens to vote. Our members are committed to helping by providing flexibility for workers to vote and volunteer at polling locations across the country.

“It can take time to finalize election results, and we urge all Americans to respect the processes set out in federal and state laws for electoral determinations and an orderly transition.”

The statement was issued after the Interfaith Center on Corporate Responsibility sent a letter to CEOs of the 200+ companies that are BRT members, calling for the business community to publicly support democratic norms. The BRT’s comments track with recommended steps in the Erb Institute guide, which makes this point:

Business has a common interest and a legitimate role in in upholding American constitutional democracy but needs to articulate this and act on it thoughtfully. Companies depend on institutions, including the rule of law, a predictable, stable and impartial regulatory environment, and the general prosperity enabled by the American economic and political system. However, any external-facing initiatives need to be explicit about business’ legitimate role and the specific risks to their industry when institutions are doubted, disputed or unreliable. For many companies this involves a fresh look at their decision frameworks and the principles that guide their political engagement.

The guide urges companies to take action – internally and externally – but to focus on rules that apply no matter who is running or governing. As noted above, one recommended action is to review and upgrade governance related to political spending and other activities, which is something Dave blogged about last week.

– Liz Dunshee