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Nearly all Fortune 500 companies are maintaining their commitments to diversity, equity, and inclusion (DEI), despite mounting public scrutiny and a growing trend among private companies to scale back such initiatives, according to a new report.
The study, published by the right-wing Heritage Foundation, examined corporate statements, annual reports, and other publicly available documents from every Fortune 500 company and found that 485 of them still actively promote DEI initiatives.
The findings arrive amid heightened debate over the role of DEI in the workplace. Critics argue that race-based hiring practices and preferential treatment based on immutable characteristics are inherently unfair, while supporters view DEI policies as essential for fostering equitable opportunities.
Walmart rolls back DEI
Walmart recently became the latest high-profile corporation to reduce its DEI initiatives, citing feedback from customers and employees. Despite scaling back, the retail giant emphasized its ongoing commitment to creating an inclusive environment.
The supermarket giant’s decision aligns with a broader shift among some private companies under pressure from stakeholders opposed to DEI policies. The Heritage Foundation report suggests that it has had limited impact on Fortune 500 firms.
Jonathan Butcher, the report’s lead author, said public scrutiny has been effective in prompting some businesses to reconsider DEI practices but noted that the largest corporations have largely resisted these pressures.
“When businesses face public criticism over their DEI commitments, they often struggle to justify their actions,” Butcher said. “Many opt to step back rather than defend practices that can be perceived as discriminatory.”
Companies like Nike and UnitedHealth Group continue to champion DEI as central to their mission. Nike highlights workforce representation, focusing on women globally and racial and ethnic minorities in the US. Meanwhile, UnitedHealth Group promotes “culturally relevant care” and aims to advance a diverse healthcare workforce.
Lawmakers back diversity
In addition to examining corporate strategies, the report created a user-friendly database detailing each company’s DEI commitments, allowing stakeholders to explore how their initiatives are implemented.
Advocates for DEI argue that maintaining such policies is essential for building a fairer society. A recent letter from 49 Democratic lawmakers urged Fortune 1000 companies to uphold their DEI efforts, framing the initiatives as critical to achieving equal opportunity for all citizens.
Despite ongoing debates, the report shows that DEI is far from dead within corporate America. For the majority of Fortune 500 companies, diversity remains a cornerstone of their strategy, even as the broader cultural conversation around it evolves.
