Nike and others have similarly reduced their sustainability efforts. This trend is largely driven by political opposition to ESG initiatives, underperformance of ESG funds, and challenges in justifying sustainability investments due to intangible benefits.
In the past 18 months, many companies have initiated a sobering retreat from their prior commitments to sustainability, related to both the environment and people. In June 2024, for example, Tractor Supply Co., a $14 billion agriculture, livestock, and pet care retailer,that it was eliminating all jobs focused on diversity, equity, and inclusion and withdrawing its carbon-emissions goals.
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