NextEra Energy, Inc. (“NextEra Energy” or the “Company”) engages in the political process because it believes that good government policy benefits its customers, its employees, its shareholders and its other stakeholders. Policy decisions at every level of government can impact the Company’s ability to deliver clean, affordable and reliable energy to its customers. Policy decisions can also impact the Company’s ability to invest in energy infrastructure that strengthens and diversifies the entire electric grid. NextEra Energy has been one of the largest investors of capital in any U.S. industry over the last several years, and believes it has a responsibility to share its perspective with policymakers and to participate as an industry leader in discussions regarding the future of electric power and clean energy.
NextEra Energy’s political engagement activities are executed in a manner consistent with the Company’s core values. Many factors guide our political contribution decisions. In general, we may support candidates and organizations that share an interest in public policy that advances clean, affordable energy and constructive regulatory environments and supports investments in the infrastructure needed to ensure safe, reliable and cost-effective service for our customers.
NextEra Energy’s active political engagement strategy helps support constructive political and regulatory environments throughout the U.S. and, in doing so, creates long-term shareholder value. Where permitted by law, NextEra Energy makes state-level political expenditures that foster and sustain the Company’s success. In Florida, a constructive regulatory environment is a key foundation to the Company’s regulated utility strategy of continually improving its best-in-class customer value proposition through smart capital investments that also benefit shareholders. This strategy has resulted in Florida Power & Light Company delivering a customer bill that is among the lowest in the nation, while providing industry leading reliability and operating one of the country’s cleanest and most efficient generation fleets.
At NextEra Energy Resources, local, state and federal regulations govern every aspect of the Company’s renewable energy development business in 48 U.S. states and 4 Canadian provinces. Successful political engagement at the state, county and local levels encourages regulatory and permitting frameworks that support the Company in becoming the world’s leading generator of energy from the wind and the sun. Engagement at the U.S. federal level has helped to develop a robust renewable electric generation industry, which supports tens of thousands of U.S. based jobs. Without the Company’s active political engagement, it is likely that overall renewable development within the U.S. would have been significantly lower than current levels.
Political expenditures and trade association dues are included in the Company’s annual budget, which is reviewed and approved annually by the Board of Directors.
The Company believes that its responsible participation in the political process and its associated prudent expenditures are in the best interests of the Company, its shareholders and its customers.
To access the NextEra Energy Political Engagement Policy, click here. Beginning in 2020, NextEra Energy will publicly disclose semi-annually on its website its Significant Trade Association Dues, its expenditures for federal and state lobbying, and contributions from the NextEra Energy PAC.
NextEra Energy maintains a rigorous compliance process to ensure its political activities are lawful, properly disclosed and aligned with the Company’s Code of Business Conduct and Ethics.
The Company believes that all of its lobbying efforts are consistent with its corporate objective of being the world's leading clean energy company, which necessarily involves an evolving balance of considerations, including achieving our emissions reductions targets. To the extent consistent with our objective, we aim for our lobbying and participation in trade associations to align with pursuing strategies that are consistent with the goal to keep global warming to no more than 1.5 degrees Celsius over pre-industrial levels. The Company's Governance & Nominating Committee of the Company's Board of Directors has oversight of the Company's lobbying efforts as described in the Company's Political Engagement Policy. The Board of Directors conducts its oversight of lobbying efforts in the context of approving and reviewing the annual corporate strategy and objectives, as well as reviewing key risks and opportunities for the Company.
