Berkshire Hathaway Inc. shareholders on Saturday rejected a proposal to have the conglomerate run by Warren Buffett disclose its political contributions twice a year.
The billionaire nonetheless expressed sympathy for the proposal at Berkshire’s annual meeting, expressing strong opposition to the U.S. Supreme Court’s 2010 decision in the Citizens United case, which allowed unlimited independent spending by corporations and labor unions in election campaigns.
Two shareholder proposals that would have required Berkshire to report on its efforts to reduce methane emissions, and divest stakes in companies involved in fossil fuels, were also voted down overwhelmingly.
Saturday’s votes were expected because Buffett, who controls 32.7 percent of Berkshire’s voting power, opposed the proposals, and Berkshire’s board also recommended votes against them.
The proposal on political contributions, which won less than 11 percent of votes cast, was similar to proposals offered at many companies and came from Clean Yield Asset Management on