Pioneer has adopted a policy regarding political expenditures, which is set forth in our Code of Business Conduct and Ethics and is applicable to all of the Company’s directors and employees. Under the policy, no Company funds may be used for political contributions in the United States unless permitted by law, approved by either the Chief Executive Officer or the Chief Operating Officer, and approved by either the General Counsel or Chief Compliance Officer.
The charter of the Nominating and Corporate Governance Committee of Pioneer’s Board of Directors provides for the Committee’s oversight of the Company’s political spending and lobbying activities. The Committee, which is composed entirely of independent directors, and the full Board of Directors, receive an annual report from senior management on the Company's political activities, including corporate contributions to issue campaigns or referenda, payments to 527 organizations, 501(c)(4) groups and other tax exempt organizations, dues paid to trade associations and political action committee contributions.
The world’s energy consumption continues to grow yet we see new challenges and restrictions every day that could limit production of the oil and natural gas resources needed to meet the increasing demand. Pioneer encourages you to join us and our industry partners in advocacy efforts working toward a more secure energy future.
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