Diversity efforts and LGBTQ ideology are likely still quietly lurking in the depths of corporate America.
That is what the Human Rights Campaign (HRC) argued in the 2026 edition of its annual Corporate Equality Index (CEI) report, which rates corporations based on their “policies, practices, and benefits” pertaining to LGBTQ employees.
In just one year, the HRC saw a 65% drop in participation among Fortune 500 companies in “communicating commitments on diversity & inclusion” — with 377 such companies in 2025 compared to just 131 in 2026, according to a news release from the LGBTQ activist organization. The drop in participation comes after several major Fortune 500 companies have pledged to no longer participate in the HRC’s annual survey since 2024, LGBTQ Nation reported on Feb. 11.
However, some major American companies are likely still participating in diversity, equity and inclusion (DEI) and LGBTQ-related initiatives, but may be more hesitant to publicly promote such efforts in an attempt to draw less scrutiny from consumers, according to Steve Milloy, executive director of the National Center’s Free Enterprise Project.
“It’s very controversial. And President [Donald] Trump, of course, is pressuring companies on DEI,” Milloy told the DCNF. “So I think … I think companies have become woke, and that has not changed. I think what has changed is [the companies] laying low on these things. And so, you know, by laying low, of course, they catch less flack. I think they’re doing the same things [but] they’re just doing them informally so as to not draw attention [to themselves].”
HRC — a prominent LGBT activist organization which reported bringing in $50,102,401 in revenue for the fiscal year ending in March 2025 — lost the participation of hundreds of businesses. However, the group still maintains that companies are still supportive of “Year‑over‑year analysis of 2025 and 2026 submissions show that implementation of policies and practices measured by the CEI was sustained or increased, with no declines across any criterion.”
The HRC referred the DCNF to its Feb. 4 press release when reached for comment.
The LGBTQ organization’s 2026 CEI report showed that 93% of the Fortune 500 companies who participated in the survey currently include “sexual orientation” and “gender identity” in their nondiscrimination policies, and over 72% of Fortune 500 companies presently offer “transgender-inclusive” healthcare benefits for their employees. Meanwhile, 376 of Fortune 500 businesses have CEI ratings based on submitted or previously-submitted surveys that were reviewed by the CEI team for accuracy, with an average score of 88.
The 2026 CEI survey found that 1,135 major employers reported implementing gender transition guidelines in the workplace, marking an increase from 660 total in 2022. Moreover, the survey shows that 74% of employers — or 1,080 out of 1,450 total respondents — have implemented workplace policies aiming to “provide a safe and affirming experience for transgender and non-binary workers,” such as “inclusive” restroom policies, “gender-neutral dress codes” and “guidance for sharing pronouns.”
Additionally, the survey also found that 39.1% of American workers reported that their employers had backpedaled on DEI practices. The HRC’s website currently also lists some corporations which have received “unverified” scores, which indicates that the company did not complete the CEI survey for 2026.
In 2025, multiple U.S. corporations axed certain diversity policies and retreated from their involvement in LGBTQ pride events amid the Trump administration’s push to eliminate DEI efforts and transgender ideology nationwide.
Still, Milloy said he thinks many “woke” policies embedded in American corporations have not fully been eliminated despite Trump’s ongoing crackdown.
“It’s probably gonna happen on a company by company basis,” Milloy said. “So, the companies just want to live in it, and do what they think they need to do to make money and to avoid bad press … So, in the current environment where, you know, you can get a light shined on you like Bud Light did, you know, you don’t want that to happen, right? So, you know, you’re gonna lay low and see what the future holds.”
“I mean, people that think that woke has gone away,” he continued. “It has not. You know, it may eventually go away, if Republicans can retain role of the White House, but President Trump hasn’t [fully] killed [DEI] … And, you know, it’ll come back. You know, [depending upon] the [future] political environment.”
In April 2023, sales of Bud Light beer declined following backlash among conservatives after the company released a social media promotion featuring transgender influencer Dylan Mulvaney.
Ahead of the 2024 presidential election, the HRC announced it was shelling out $15 million in an effort to “inform and mobilize [a] record-high 75 million equality voters” across the U.S., according to a press release.
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