A push to attract young and diverse talent and global consumers is behind some of corporate America's willingness to speak out on politically charged issues like Georgia's new voting law, executives and corporate governance experts said.
The companies criticizing the law so far represent a sliver of the U.S. business landscape. Yet they are part of a growing group of companies shedding their reluctance to speak out on politically controversial social issues that matter to many of their employees and customers globally, business leaders interviewed by Reuters said.
Some companies that are reluctant to criticize specific laws or policies are still willing to come out with more general statements. For example, roughly 330 of the 500 companies in the S&P 500 Index issued comments last year in support of social justice in the wake of the death of George Floyd, a Black man, in the custody of Minneapolis police, according to shareholder advocacy group As You Sow.
But he noted that more than 60 big U.S. companies recently signed a statement opposing state bills focused on sexual orientation, showing a willingness to weigh in at least on some topics. In the battle on voting bills,"we are in the early stages," Chenault said.Speaking out against politically sensitive issues can be risky.