Some companies have announced diversity rollbacks — but many more are deleting or softening language from their investor disclosures, an NPR analysis finds.
AUSTIN, TEXAS: A GMC pickup truck is displayed for sale on a lot at a General Motors dealership in Austin, Texas. Last year, General Motors told investors in its annual report that"we are committed to fostering a culture of diversity, equity and inclusion." But in its latest report, published last week, GM doesn't mention diversity once.
A year ago, all of these companies made references to diversity and inclusion in their disclosures — but in their new reports, all of these companies have rewritten at least some of this language. In some cases, they no longer mention"diversity" at all.Most of these companies have filed these annual reports in the past two weeks.
this week, Pepsi only mentions diversity in reference to a board committee focused on"sustainability, diversity, and public policy." The company did not respond to a request for comment.Publicly-traded companies are required to file annual reports and other investor disclosures with the Securities and Exchange Commission. Many companies end their financial years in late December or soon after, and file these reports starting in late January .
In this case, companies are eliminating information and rhetoric that has become politically toxic. There's no regulatory requirement for companies to disclose their DEI goals or philosophy. Many companies voluntarily did so in the past, especially to please investors, employees, and customers — but now the political environment has changed.
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