DEI Narrative Shifts in Corporate Disclosures: Responding to Anti-ESG Pressure
An analysis of DEI disclosures at 296 companies, revealing how anti ESG pressure is reshaping corporate narratives.
Introduction
Corporate DEI narratives are under more scrutiny than ever. As anti ESG political and legal pressure mounts, organizations are recalibrating how they talk about diversity, equity, and inclusion, without necessarily stepping back from the programs themselves.
Based on disclosures from 296 companies, our analysis tracks what changed between 2024 and 2025, and what it signals for governance and disclosure teams navigating the same pressure.
Where the narrative is shifting
Our analysis finds 37% of companies removed DEI sections from their sustainability reports, while others rebranded commitments under broader terms like employee engagement and community investment. 10 K filings told a different story: more stability, reinforcing DEI as a compliance and governance issue even as voluntary reporting grew quieter.
The report also flags a growing credibility risk. Some companies continue to showcase diverse imagery while retreating from measurable targets, a gap that can undermine stakeholder trust. A minority of companies are moving the other way, expanding DEI commitments and positioning inclusion as both a resilience strategy and a driver of long term value.
What this report covers
This report covers:
- How DEI narratives are shifting across reports and filings
- Which terms are disappearing, and what is replacing them
- The risks of sidelining DEI for talent, reputation, and performance
- Practical steps for maintaining credible inclusion narratives
Conclusion
DEI reporting is not disappearing. It is being recalibrated. Understanding where and how companies are adjusting their language gives governance and disclosure teams a clearer read on what stakeholders will expect next.
Download the full report to see how disclosures are evolving under anti ESG pressure, and what it means for your strategy.
