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| Overall Assessment |
Comment |
Score |
| Moderate |
Pinnacle West clearly names its engagement with the SEC’s climate-related disclosure requirements, detailing the rulemaking process under evaluation in 2021 and proposed in 2022. It explains that it channeled its input through the Edison Electric Institute by “providing feedback to the EEI,” which was then incorporated into a formal submission to the SEC, identifying the Securities and Exchange Commission as the direct target. The company specifies that it sought to ensure the rules deliver “more consistent, comparable, and reliable information for investors” and offer “greater clarity to registrants,” and indicates its general support for the proposal with minor exceptions. This level of detail illustrates moderate transparency in its climate lobbying disclosures.
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| Overall Assessment |
Comment |
Score |
| Moderate |
Pinnacle West Capital Corp has established processes and oversight structures for its lobbying and political advocacy activities, including a public-facing political participation policy and regular Board and management reviews, but it does not clearly articulate a dedicated climate-lobbying governance framework that aligns its direct or indirect lobbying with its climate objectives. The company states that “contribution decisions are made primarily by our Vice President, Federal Affairs, and Vice President, State and Local Affairs” and that during the first quarter of each year “management reviews with the Corporate Governance and Political Responsibility Committee of the Board of Directors its anticipated governmental affairs strategies for the year, including the priorities for the Company’s political expenditure and lobbying activities.” It also indicates that “these strategies and priorities are aligned to our overall climate commitment and vetted through Executive and Board of Directors review.” Oversight is further reinforced through an annual review of the policy by the Corporate Governance and Public Responsibility Committee, which “recommends to the Board any revisions it deems necessary,” and summaries of political activities are provided to the full Board. However, the policy does not describe procedures for monitoring or managing the alignment of lobbying positions of trade associations with the company’s climate goals, nor does it disclose any specific climate-lobbying audits or criteria for assessing third-party advocacy. We found no evidence of a climate-specific lobbying audit or a formal mechanism to engage or exit industry associations whose policy positions may conflict with Pinnacle West’s climate objectives.
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