Free Speech: Why Corporate America Is Now Ditching Wokeness In Bunches

What Your Company’s Pride Sponsorship Supports

Many Americans are asking why corporations continue to fund LGBTQ Pride events that include programming or vendors that most can agree are seen as inappropriate for children. At certain events, attendees may encounter nightclubs, alcohol brands, cannabis dispensaries, or drag performances that often contain sexually suggestive elements. Many families would not ordinarily choose to expose their children to these types of environments, leading some to question why such programming is viewed differently when presented under the banner of LGBTQ+ Pride or “inclusion.” Before sponsoring socially contentious events, companies should carefully consider how they want their brands to be perceived by consumers, shareholders, employees, and the broader public. While stakeholders may hold differing opinions on many social issues, protecting the well-being of children remains a widely shared concern. Corporate sponsorships communicate a company’s values and priorities, making it important to evaluate whether those partnerships support its long-term business objectives and appeal to a broad customer base rather than a narrow segment of the market. NYC Pride is sponsored by Target, which publicly committed in 2025 to stop sponsoring nonbusiness causes. The event includes Youth Pride, a program specifically designed for LGBTQIA+ youth, their families, and allies, with the stated goal of  “empower[ing] …

DEI by Another Name

In response to legal, political, consumer, or shareholder pressures, companies are increasingly replacing “DEI” terminology with broader terms such as “Inclusion,” “Culture,” or “Belonging,” while providing little explanation as to whether the changes are substantive or primarily cosmetic.  For example, CVS Health renamed its public-facing DEI page to ”Inclusion & Belonging” without issuing a public statement explaining the change. The company also stopped referencing a diversity pay metric for leadership in their annual 10-K filing. Similarly, Home Depot quietly removed its DEI webpage and replaced it with a ”Living Our Values“ section. While these changes alter the public branding, they do not necessarily clarify whether the companies’ underlying policies or priorities have materially changed.  From a shareholder perspective, this lack of transparency can create uncertainty about a company’s strategic direction and how it intends to approach politically and socially contentious issues going forward. It is in companies’ best fiduciary interest to clearly communicate whether they are maintaining, modifying, or discontinuing DEI-related initiatives rather than simply changing terminology. Providing that clarity allows shareholders and other stakeholders to better understand the company’s priorities and evaluate whether its policies remain focused on advancing its core business objectives and long-term fiduciary responsibilities.  Home Depot’s Previous DEI Page vs Its “Rebranded” Page

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