What: Major corporations including Costco, Apple, and JPMorgan Chase maintain their DEI commitments despite political pressure and industry-wide pullback, marking a clear divide in corporate approaches to diversity initiatives.

Why it is important: The contrasting approaches to DEI policies highlight a pivotal moment in corporate governance where companies must balance social commitments with business performance, as the industry shifts towards measurable outcomes rather than symbolic gestures.

In the wake of President Trump's executive orders eliminating federal DEI programmes, major corporations are taking divergent paths in their approach to diversity initiatives. While companies like Lowe's, Harley Davidson, and Meta have rolled back their DEI policies, others are standing firm in their commitments. Costco has emerged as a notable defender, with its board unanimously rejecting a proposal to evaluate DEI risks, emphasising that their commitment to inclusion is both appropriate and necessary. JPMorgan Chase's CEO Jamie Dimon has openly challenged anti-DEI activists, affirming continued support for diverse communities while maintaining flexibility in programme execution. Apple's board similarly recommended rejecting anti-DEI proposals, emphasising the fundamental role of ethical conduct in their business success. Other companies maintaining their stance include Pinterest, Microsoft, and e.l.f. Beauty, with the latter notably achieving board diversity of 78% women and 44% people of colour without formal DEI roles. This corporate divide reflects broader tensions in how companies balance social responsibility with business performance in an increasingly polarised environment.

IADS Notes: Recent developments show contrasting approaches to DEI initiatives in retail. While Costco maintained its policies despite pressure in January 2025 , Walmart's November 2024 strategy of keeping inclusion practices while removing DEI language led to strong market performance . Target's USD 10 billion valuation loss following DEI controversies  demonstrates the risks involved, while the emergence of the FAIR framework  suggests a shift towards measurable outcomes over symbolic gestures.

Companies defending their DEI programs from Costco and Apple