These companies are standing by their DEI policies amid backlash

Some again companies are leaving from diversity, equity and inclusion (it has) policies, others continue with previous commitments.

Leaders from Goldman Sachs, Costco and JPMorgan Chase & Co. has recently spoken out in support of its diversity programs as anti-DEI shareholder activists continue to push proposals that would roll back the company’s policies.

Costco’s Board of Directors he recommended a unanimous vote A proposal from the National Center for Public Policy Research, which asked Costco to evaluate and publish a report on the risks associated with the company’s diversity and inclusion, according to the January 23 shareholder meeting.

“Our efforts around diversity, equity and inclusion follow our code of ethics,” the committee’s statement on the proposal said. “For our employees, these efforts are built around inclusion, making all of our employees feel valued and respected. Our efforts for diversity, equity and inclusion remind and reinforce to everyone at our Company the importance of creating opportunities for all. We believe these efforts will help our business succeed. improve the ability to attract and retain employees.”

The board argued that its diversity program complies with the law, and defended its commitments to diversify its supplier base, including a special focus on small businesses. The council’s statement ultimately argued that the proposal reflects “political bias”.

Costco representatives did not respond to ABC News’ request for comment.

Amid continued pressure on DEI’s initiatives, a Goldman Sachs spokesperson told ABC News in a statement: “We believe organizations benefit from a variety of perspectives, and Goldman Sachs is committed to operating our programs and policies in compliance with the law.”

Goldman Sachs representatives directed ABC News to CEO David Solomon’s Jan. 22 interview with CNBC, in which Solomon said the financial services company looks at these issues “through the eyes of our clients.”

He added that “they think about decarbonisation, they think about the climate transition”, he said. They think about their businesses, how they find talent, the diversity of talent they find around the world. You know we do a big global business and serve global customers everywhere. We think about these issues, how do we help our customers navigate these things? And we continue to focus on talking to our customers and doing the things we’ve always done.”

The company has come under scrutiny for its stated commitments to racial equality, gender equality and greater diversity. Strategies listed on its website include expanded recruiting efforts, salary gap data collection, hiring goals and career development programs.

JPMorgan Chase CEO Jamie Dimon, in an interview with CNBC, said he’s “very proud” of what we’ve done.

“We’re going to continue to engage with the black community, the Hispanic community, the veteran community, LGBTQ, we have groups that have second-chance initiatives — where I’m going, with blue states, red states, governors, they like what we’re doing,” Dimon said.

JPMorgan Chase did not respond to a request for comment.

DEI initiatives, According to ABC News interviews with DEI expertsseeks to address and address discriminatory policies or practices that may be found within an organization. Experts told ABC News that some examples of DEI initiatives include implementing accessibility measures for people with disabilities, addressing the gender pay gap, mitigating bias in hiring and hiring practices, and providing anti-discrimination training, among others.

Several other companies in the sector — including Amazon, Meta and McDonalds — have scaled back and ended their diversity and inclusion initiatives, largely undertaken after protests against racial inequality following the police killing of George Floyd.

The pushback comes amid a crackdown on DEI by conservative politicians who have enacted policies that curtail diversity and equity programs in government, colleges, universities, and more. After taking office this week, President Donald Trump signed the executive order dismantling DEI programs in the federal government.

In an interview with ABC News, Ethan Peck, deputy director of the National Center for Public Policy Research’s Free Enterprise Project, said diversity programs pose risks to shareholder value because they can invite lawsuits from those who claim they have been discriminated against recently. arguments against affirmative action.

Some legal experts disagree, arguing that repealing DEI policies could be detrimental to potential lawsuits from marginalized groups who allege discrimination.

Peck, whose group campaigns to pressure companies to dismantle DEI programs, has argued that diversity programs sacrifice “excellence and innovation,” but said he has not provided examples of employment discrimination at those companies.

“Eventually you’re going to leave DEI, and it’s better for your shareholders if you do it sooner rather than later,” Peck said, noting that Boeing and John Deere faced similar proposals and then abandoned diversity, equity and inclusion programs.

“I think this is a fad,” he said.

Anti-DEI activists also argue that the appearance of quotas, which are largely considered illegal, are “aspirational” goals to increase diversity and representation. Equal Employment Opportunity Commission.

“You can be fair in hiring and promoting candidates of all backgrounds and perspectives without resorting to quota systems and considerations based on immutable characteristics,” said Paul Chesser, director of the National Law and Policy Center’s Corporate Integrity Project. statement sent by email.

Christie Smith, Apple’s former vice president of inclusion and diversity and C-Suite advisor, represented DEI’s engagements. increasing shareholder value.

DEI has “increased innovation, increased the growth of these organizations, increased opportunities in startup organizations, mostly women and people of color, to launch these types of companies and grow our economy in that way,” she told ABC News.