WASHINGTON (dpa-AFX) - Molson Coors (TAP) is rolling back its diversity, equity and inclusion policies, aligning with the ongoing anti-woke movement in corporate America.
The decision was announced in an internal memo, where the company communicated the removal of its supplier diversity quota, citing that they can be 'complicated and influenced by factors outside of control.'
Despite this rollback, the brewer emphasized its commitment to ensuring that its suppliers continue to represent the company's diverse customer base.
'We are ensuring our executive incentives are tied to business performance and do not include aspirational representation goals beginning next year,' the memo stated.
Also, the company is ending its participation in the Human Rights Campaign Corporate Equality Index, which evaluates companies based on factors, such as non-discrimination policies, spousal and partner benefits, transgender-inclusive benefits, and engagement with the LGBTQ+ community.
A score of 100 on the index indicates the company's strong commitment to LGBTQ+ causes. In 2023-24, around 600 companies, including Apple (AAPL), Amazon (AMZN), Bank of America (BAC), Ford (F), Disney (DIS), Google, Microsoft (MSFT), Toyota , and Walmart (WMT), received perfect scores.
'This will not impact the benefits we provide our employees, nor will it change or diminish our commitment to fostering a strong culture where every one of our employees knows they are welcome at our bar,' the company said, CNBC reports.
The decision comes as several prominent companies have distanced themselves from DEI initiatives. Retailer Tractor Supply (TSTO) severed ties with the HRC, and retired its DEI targets, while Harley Davidson (HOG) decided to stop using HRC's metric for treatment of LGBTQ+ employees and confirmed it does not have a DEI function.
Last week, Ford Motor (F) also announced its decision to scale back on some of its commitments to DEI initiatives.
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