On May 20, Pinnacle West Capital, the holding company that owns Arizona's largest utility, will host its annual meeting at the Heard Museum in central Phoenix. Shareholders will elect directors and approve executive compensation packages. They'll also vote on a less routine proposal: a requirement that Pinnacle West disclose contributions to nonprofit advocacy groups that can raise and spend unlimited amounts of money in elections without identifying donors. "Investors don't understand how these activities are helping the company and would like more transparency of what they are doing and how they are spending shareholder dollars that appear to undermine renewable energy policy in the state," says Amelia Timbers, an energy program manager for As You Sow, a shareholder advocacy group focused on social issues. As You Sow wrote the proposal on behalf of Calvert Investment Management and First Affirmative Financial Network, two socially conscious investment funds that own or advise clients who own Pinnacle West shares.
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机译：5月20日，拥有亚利桑那州最大公用事业的控股公司Pinnacle West Capital将在凤凰城中心的Heard博物馆举行年度会议。股东将选举董事并批准高管薪酬方案。他们还将对一个不太常规的提案进行投票：要求Pinnacle West向非营利性倡导组织披露捐款，该组织可以在选举中筹集和花费无限量的资金而无需确定捐助方。能源项目经理Amelia Timbers表示：“投资者不了解这些活动如何为公司提供帮助，他们希望自己的工作更加透明，以及如何花费股东的钱来破坏该州的可再生能源政策。”对于As You Sow，一个股东倡导小组专注于社会问题。正如You Sow代表Calvert Investment Management和First Affirmative Financial Network撰写提案时，这两个具有社会意识的投资基金拥有或建议拥有Pinnacle West股份的客户。
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