Coors beer is displayed on a store shelf on February 13, 2024 in San Rafael, California.
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Molson Coors It’s the latest in a growing number of companies making changes to their diversity, equity and inclusion policies.
In an internal memo sent Wednesday and obtained by CNBC, Molson Coors executives said the company would eliminate supplier diversity quotas, adding that the quotas could “become complex and subject to factors outside (the company’s) control.” influence”.
But the brewer said it will continue to ensure its suppliers represent the company’s diverse consumer base.
“We are ensuring that our executive incentives are tied to business performance and do not include aspirational representation targets starting next year,” company officials wrote in the memo.
Molson Coors also said it is developing the “next evolution” of company training that will focus on key business objectives rather than the previous DEI-based training program, which the company said all current U.S. employees have already participated in.
Molson Coors will rename its employee resource groups to business resource groups while seemingly retaining the groups’ existing functionality, and will cease participating in any voluntary third-party rankings of “best” companies in the U.S., including the Human Rights Campaign’s Corporate Rankings The Equality Index ranks companies based on a measure of corporate equality for LGBTQ+ individuals. The brewer has previously received a perfect 100 points.
The company said: “This will not impact on the benefits we offer our staff, nor will it change or diminish our commitment to fostering a strong culture where every member of our staff knows they are welcome in our pubs.”
The company will also ensure that all corporate charitable giving programs are focused on supporting “core business objectives,” such as alcohol responsibility, disaster relief efforts and promoting access to higher education. Since 2011, Molson Coors has raised more than $700,000 for LGBTQ+ organizations nationwide through its Tap Into Change program and sponsorship of Pride festivals.
While conservative activist Robby Starbuck characterized the moves as preemptive changes in response to a week-old investigation into the company’s DEI practices, Molson Coors said in its memo that the decision “has been in the works since March.” ”.
Molson Coors’ decision follows a summer wave of retailers backing off on DEI efforts.
rural retailers tractor supply The trend began when it severed ties with the LGBTQ+ advocacy group Human Rights Campaign and rolled back previous DEI goals, such as increasing the number of employees of color in management. company likes harley davidson and Lowe’s They also followed suit. recent, Ford Executives highlighted plans to cut supplier diversity quotas and reduce the company’s relationship to HRC metrics.
Corporate DEI practices, which received renewed attention following the murder of George Floyd and the Black Lives Matter protests in 2020, are in trouble after the Supreme Court overturned university affirmative action decisions. Although the reversal of affirmative action involves academic institutions and has no legal implications for corporate initiatives, businesses worry that growing anti-DEI sentiment will filter into corporate America.
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