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Corporations reduce ESG pay incentives (2024)
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Many corporations—especially in the United States and Europe—have aligned executive pay incentives with ESG goals. Recently, some companies have eliminated those incentives in response to ESG pushback:
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Advanced Micro Devices, Motorola and Regions Financial are among a dozen companies that have removed diversity criteria from executive bonus plans this year after pressure from conservatives, as the political backlash to the initiatives continue to divide US boardrooms. The 12 companies were among 60 that dropped environmental, social and governance incentives from their executive pay plans after pressure from Strive, the anti-ESG asset manager founded by Donald Trump ally Vivek Ramaswamy. Launched in 2022, Strive has more than $1.6bn of assets under management. … Amid increasing pressure from Republicans on corporate DEI initiatives, companies have scrambled to cut them. Tractor maker Deere said on Tuesday it would roll back various DEI initiatives such as supporting external 'social or cultural awareness parades', and reaffirmed it had no 'diversity quotas' or 'pronoun identification' in the business. In June, retailer Tractor Supply said it would eliminate all its diversity roles.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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