Molson Coors (TAP) is dialing back its diversity, equity, and inclusion (DEI) policies, in line with the growing anti-woke trend in corporate America.
In an internal memo, the company revealed the elimination of its supplier diversity quota, explaining that such measures can be "complicated and influenced by factors outside of control." However, the brewer reassured its commitment to maintaining a supplier base that reflects its diverse customer demographics.
The memo further stated, "We are ensuring our executive incentives are tied to business performance and do not include aspirational representation goals beginning next year."
Additionally, Molson Coors is withdrawing from the Human Rights Campaign (HRC) Corporate Equality Index, which assesses companies based on criteria such as non-discrimination policies, spousal and partner benefits, transgender-inclusive benefits, and LGBTQ+ community engagement.
A perfect score of 100 on the index indicates strong support for LGBTQ+ causes. For the 2023-24 period, about 600 companies, including industry giants like Apple (AAPL), Amazon (AMZN), Bank of America (BAC), Ford (F), Disney (DIS), Google, Microsoft (MSFT), Toyota (TM), and Walmart (WMT), achieved this score.
"This change will not impact the benefits we provide to our employees, nor will it affect our commitment to fostering a strong culture where every employee feels welcomed," stated a company spokesperson, as reported by CNBC.
This decision follows a broader trend of prominent companies distancing themselves from DEI initiatives. Retailer Tractor Supply (TSTO) has severed its association with the HRC and retired its DEI targets. Similarly, Harley Davidson (HOG) discontinued using the HRC's metrics for evaluating LGBTQ+ employee treatment and acknowledged it no longer maintains a DEI function.
Just last week, Ford Motor (F) announced a reduction in some of its commitments to DEI initiatives.
