Silent Support: How Corporations are Quietly Contributing to LGBTQ+ Causes During Pride Month
Money | June 30, 2024, 11:34 a.m.
In the wake of Pride Month, major corporations are taking a step back from overt displays of LGBTQ+ support, with some even scaling back on diversity, equity, and inclusion efforts. Faced with the looming presidential election and potential backlash from conservative consumers, companies like Tractor Supply are cutting ties with Pride festivals and other related sponsorships. While only 45% of Fortune 100 companies have made explicit Pride-related posts this year, down from 51% last year, there is still a commitment to supporting LGBTQ+ causes. Despite setbacks like the Bud Light boycott, some brands are doubling down on diversity, such as e.l.f. Beauty, which recently celebrated its 20th anniversary with a focus on inclusivity. Despite challenges, the push for year-round philanthropy and meaningful activism is gaining traction among corporations, heralding a shift in how businesses approach LGBTQ+ initiatives.