UAW Retiree Medical Benefits Trust announced the start of a multi-year collaboration with Walgreen Co. to develop a best practice policy approach to corporate political activity oversight and disclosure. The Trust anticipates that the agreement, which includes a multi-year commitment from Walgreens to work with the Trust on developing policy and reporting frameworks for corporate political and lobbying activity, will serve as a model for future corporate-shareholder engagements and may help shape future rules and regulations on these issues.

The main components of the agreement include: A two-year commitment for a robust engagement between the parties on political spending and lobbying oversight and disclosure; A review of existing oversight processes at the board and management levels with respect to political and lobbying expenditures; Codifying internal processes for consideration of political and lobbying expenditures consistent with the company's best interests; and developing a framework to review current and future memberships and participation in trade associations and other tax-exempt organizations.