<SEC-DOCUMENT>0001214659-21-004371.txt : 20210421
<SEC-HEADER>0001214659-21-004371.hdr.sgml : 20210421
<ACCEPTANCE-DATETIME>20210421141745
ACCESSION NUMBER:		0001214659-21-004371
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210421
DATE AS OF CHANGE:		20210421
EFFECTIVENESS DATE:		20210421

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Duke Energy CORP
		CENTRAL INDEX KEY:			0001326160
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				202777218
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32853
		FILM NUMBER:		21840973

	BUSINESS ADDRESS:	
		STREET 1:		550 SOUTH TRYON STREET
		STREET 2:		DEC45A
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202
		BUSINESS PHONE:		980-373-9093

	MAIL ADDRESS:	
		STREET 1:		550 SOUTH TRYON STREET
		STREET 2:		DEC45A
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Duke Energy Holding Corp.
		DATE OF NAME CHANGE:	20050628

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Deer Holding Corp.
		DATE OF NAME CHANGE:	20050504

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW YORK STATE COMMON RETIREMENT FUND
		CENTRAL INDEX KEY:			0000810265
		IRS NUMBER:				146103815
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		OFFICE OF THE STATE COMPTROLLER
		STREET 2:		14TH FLOOR, 110 STATE STREET
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12236
		BUSINESS PHONE:		518-486-6998

	MAIL ADDRESS:	
		STREET 1:		OFFICE OF THE STATE COMPTROLLER
		STREET 2:		14TH FLOOR, 110 STATE STREET
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12236
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF EXEMPT SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name of the registrant</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Duke Energy Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name of person relying on exemption:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York State Comptroller Thomas P. DiNapoli, Trustee of the New York
State Common Retirement Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Address of person relying on exemption:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of the New York State Comptroller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Legal Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">110 State Street, 14<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Albany, NY 12236</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Written material:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Text of April 21, 2021 email communication sent by Kyle Seeley, Corporate
Governance and ESG Investment Officer, New York State Common Retirement Fund.</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Duke Energy Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>VOTE FOR PROPOSAL SIX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHAREHOLDER PROPOSAL REGARDING PROVIDING A SEMIANNUAL
REPORT ON DUKE ENERGY&rsquo;S POLITICAL CONTRIBUTIONS AND EXPENDITURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Filed by the New York State Common Retirement
Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annual Meeting: May 6, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The New York State Common Retirement Fund urges
Duke Energy Corporation shareholders to vote <B><U>FOR Proposal SIX</U></B> on the proxy, the Shareholder Proposal Regarding a Semiannual
Report on Duke Energy&rsquo;s Political Contributions and Expenditures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Support FOR Proposal SIX Is Warranted Because:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Companies face legal, reputational, and financial risks when making
political contributions. Transparency and accountability around corporate political contributions is a widely adopted best practice and
in the best interests of shareholders. Currently, Duke Energy fails to comprehensively disclose its corporate political spending and
shareholders are unable to fully assess the risks and benefits associated with the company's political activities.<B>&nbsp;</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Summary of Proposal SIX</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="padding: 4pt; width: 100%; border: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Resolved, </B>Shareholders of Duke Energy hereby request the Company
    to prepare and semiannually update a report, which shall be presented to the pertinent board of directors committee and posted on the
    Company's website, that discloses the Company's:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">a)&nbsp;&nbsp;&nbsp;&nbsp;Policies
    and procedures for making electoral contributions and expenditures (direct and indirect) with corporate funds, including the board's role
    (if any) in that process; and b) Monetary and non-monetary contributions or expenditures that could not be deducted as an &quot;ordinary
    and necessary&quot; business expense under section 162(e)(l)(B) of the Internal Revenue Code, including (but not limited to) contributions
    or expenditures on behalf of candidates, parties, and committees and entities organized and operating under section 501(c)(4) of the Internal
    Revenue Code, as well as the portion of any dues or payments made to any tax-exempt organization (such as a trade association) used for
    an expenditure or contribution that, if made directly by the Company, would not be deductible under section 162(e)(l)(B) of the Internal
    Revenue Code.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Publicly available records show Duke has contributed at least $17 million
    in corporate political funds since the 2010 election cycle. (CQMoneyline: http://moneyline.cq.com; National Institute on Money in State
    Politics: http://www.followthemoney.org)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Duke&rsquo;s Board and shareholders need comprehensive disclosure to
    be able to fully evaluate the use of corporate assets in elections. This would bring Duke in line with a growing number of leading companies,
    including Dominion Energy Inc., Consolidated Edison Inc., Edison International, and Exelon Corp., which present this information on their
    websites.</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Since the <I>Citizens United</I> Supreme Court decision, there has
been a dramatic increase in overall political spending by corporations. When companies make political contributions that are not made
in accordance with stated values or business strategy, long-term shareholder value is jeopardized. As a result, comprehensively disclosing
corporate political spending is a well-established best practice, in the best interests of shareholders, and aligned with long-term shareholder
value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While Duke Energy has improved its corporate political spending disclosure
over the years, the Company still fails to disclose:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Payments to all trade associations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Payments to 501(c)(4) organizations, referred to as &quot;social welfare&quot; organizations, that may be politically active; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>How trade associations use the Company's money on issues related to electioneering expenditures, thus exposing the Company to the
risk that it could be indirectly supporting positions opposed to its corporate position.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Full disclosure of Duke Energy political contributions will allow shareholders
to assess the risks and benefits associated with the company's political activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Conclusion</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shareholders are encouraged to vote <B>FOR Proposal SIX </B>on the
proxy, the Shareholder Proposal Regarding Providing a Semiannual Report on Duke Energy&rsquo;s Political Contributions and Expenditures
at the Corporation&rsquo;s Annual Meeting on May 6, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For questions, please contact Kyle Seeley, Corporate Governance and
ESG Investment Officer New York State Common Retirement Fund, kseeley@osc.ny.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>This is not a solicitation of authority to vote
your proxy.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Please do not send us your proxy card.</B></P>

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