Chesapeake is committed to constructive, responsible and ethical participation in the political process as we advocate for sound public policies including sensible energy policies and those that encourage a healthy business environment. Exercising this fundamental right is critical because of the special knowledge and experience we bring to the debate on policy issues that impact our business.
We are an active participant in the political process at all levels of government. We make contributions to candidates and causes that reflect the best interests and values of Chesapeake in accordance with all applicable laws and regulations. Our expenditures originate from corporate funds, where permitted by law, as well as through Chesapeake’s political action committees.
Board and Management Oversight
Our participation in the political process reflects strict adherence to high ethical standards and Chesapeake’s core values of respect, integrity and trust. We prohibit the use of company funds for political expenditures or lobbying in any form on behalf of the company unless such expenditures or lobbying activities are made in compliance with all applicable laws and regulations and appropriately advance the business goals and interests of Chesapeake as determined by the CEO or the CEO’s designee. The Nominating, Governance and Social Responsibility Committee of the Board of Directors is responsible for overseeing Chesapeake’s political spending and lobbying activities as detailed in the committee’s charter.
Chesapeake Political Action Committees
Chesapeake’s federal and state political action committees exist to promote and encourage energy policies that are consistent with the best interests and values of the company. Our political action committees seek to identify well-informed, principled leaders on matters of domestic energy policy and support their efforts to promote a strong, clean energy agenda with an emphasis on natural gas. Through the efforts of the political action committees, we seek to educate, energize and empower our employees to become informed voters and effective industry advocates who actively participate in our nation’s political system at all levels of government.
Under federal and state election law, Chesapeake may form and provide administrative support to political action committees; however, contributions from our political action committees are entirely funded through voluntary contributions made by our directors, officers and employees. Chesapeake plans to publish contributions made by its political action committees to its website on an annual basis. View a list of 2012 political action committee contributions.
Chesapeake is a member of and active participant in a variety of federal, state and local trade associations. Many of these associations participate in the political process through educational initiatives and engage in lobbying on important legislative and regulatory decisions that impact our industry.
View a list of associations to which Chesapeake paid more than $50,000 in annual dues in 2012. The company plans to publish this information to its website on an annual basis.
We encourage employees to participate in our political system by voting, speaking out on public issues, making political contributions in their own names and from their own assets, and otherwise becoming active in civic and political activities. However, we stress the importance of clearly distinguishing personal views and actions from those of the company and prohibit employees from using company funds, time, equipment, supplies or facilities in personally supporting candidates or political causes or organizations.
For more information on the policies governing how we participate in the political process, please review our Code of Business Conduct and Ethics (pdf). For details on the role of the Nominating, Governance and Social Responsibility Committee in overseeing Chesapeake’s participation in the political process, please review the Nominating, Governance and Social Responsibility Committee charter (pdf).