DEI Narrative Shifts in Corporate Disclosures Research Report

This report examines how US companies
are reshaping their DEI narratives under
rising anti-ESG political and legal pressure.
Based on disclosures from 296 companies,
it highlights how organizations are reframing
commitments while navigating regulatory,
reputational, and stakeholder demands.

DEI Narrative Shift Research Report-mockup

Download the report to see how disclosures are evolving under anti-ESG pressure, and what this means for your strategy.

Between 2024 and 2025, corporate sustainability reporting shifted noticeably. With mounting scrutiny on ESG, and diversity, equity, and inclusion (DEI) in particular, many companies recalibrated their disclosures, signaling caution while keeping core programs in place.

Our analysis finds 37% of companies removed DEI sections from sustainability reports, while others rebranded commitments under broader terms like employee engagement and community investment. In contrast, 10-K filings showed more stability, reinforcing DEI as a compliance and governance issue even as voluntary reports grew quieter.

The report also flags rising credibility risks: some companies showcase diverse imagery while retreating from measurable targets, a practice that may undermine stakeholder trust. Yet a minority continue to expand DEI commitments, positioning inclusion as both a resilience strategy and a driver of long-term value.

What you’ll learn:

  • How DEI narratives are shifting across reports and filings.

  • Which terms are disappearing, and what’s replacing them.

  • The risks of sidelining DEI for talent, reputation, and performance.

  • Practical steps for maintaining credible inclusion narratives.

Learn about the shifting DEI narrative

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