Corporate America's retreat from social activism is well under way

Corporate America’s foray into social activism appears to be on the decline. Recent headlines have highlighted big companies backing away from diversity and inclusion efforts, dialing back on Pride merchandise, and ignoring climate change risks. The trend towards stakeholder capitalism, where companies prioritize not just profit but also social impact, had gained traction following societal movements like Black Lives Matter. However, as right-wing backlash, higher interest rates, and changing consumer behavior take hold, major brands are retreating to the sidelines, reaffirming the influence of capitalism.