Policy Engagement and Working with Governments
Given the breadth and scope of our industry and our global footprint, senior leaders across our operations engage with public officials at all levels of government. At times, public policy can have a significant effect on our business. We believe it is in the best interest of Baker Hughes and our stakeholders that our perspective informs the development of relevant public policies. Our participation in the policymaking process is subject to an extensive framework of laws and regulations and company policies and internal oversight that demonstrate our commitment to both the letter and the spirit of the laws governing our activities.
Baker Hughes may, from time to time, contribute to candidate or issue committees and other political organizations as generally authorized by its Board of Directors and consistent with applicable laws. Baker Hughes does not currently utilize a Political Action Committee. On an annual basis, the Governance and Corporate Responsibility Committee reviews all corporate political contributions, as well as all non-deductible portions of payments in excess of $50,000 made to trade associations. We publicly report information regarding our advocacy activities and political contributions. For the 2021 reporting year, Baker Hughes did not make any political contributions. Please see our 2021 Political Contributions Report for additional information.