Mastercard Shareholders Nix Bid for More Lobbying Transparency

Mastercard Inc. investors on Tuesday voted against a proposal urging the payment services business to disclose more details about who it retains to lobby on issues such as climate change.

The proposal, brought by investor activist John Chevedden, asked for an annual report detailing how much the company pays groups including trade associations for lobbying. Chevedden asked that the report also include an overview of the company’s broader lobbying policies and management’s decision-making process around lobbying.

The effort is similar to many other investor proposals pushing companies on political spending transparency, including bids at Comcast Corp., Home Depot Inc., ...