Nike has opted not to publish its annual diversity and equality report this year, breaking a tradition that stretches back more than two decades. The decision places the sportswear giant among a rising number of US firms—including JPMorgan Chase, Constellation Brands and Akamai Technologies—that are postponing or scrapping their ESG and corporate impact reports amid intensifying political scrutiny.
For years, the spring quarter has served as the primary season for US corporations to release updates on their efforts to cut carbon emissions and enhance workplace diversity, equity and inclusion (DEI). While these disclosures are not legally required, nearly all S&P 500 companies issued some form of ESG reporting in 2024.
Nike’s former CEO, John Donahoe, had previously hailed the report as “a testament to our belief in the transformative power of sport,” with a 90-second promotional video on LinkedIn marking its 2023 release. This year, however, the report is absent. In an emailed statement, the company said it remains committed to its 2025 diversity targets and would share its progress through other formats.
The broader retreat comes against the backdrop of rising conservative opposition to ESG and DEI initiatives, a trend that began in earnest around three years ago. With the re-election of Donald Trump, opposition has gained further institutional momentum. In his first week in office, Trump signed executive orders dismantling federal diversity programmes and restricting the legal definition of gender to a binary framework.
While none of the companies contacted explicitly attributed the delay in reporting to recent federal actions, several acknowledge shifting timelines and formats. JPMorgan stated in a regulatory filing that it plans to consolidate its ESG and climate disclosures later this year, noting that it will continue to “monitor the evolving disclosure landscape.” The bank released its 2024 Climate Report last November.
Constellation Brands cited “stakeholder feedback” as the reason for adjusting its reporting schedule, with a new release expected next month. Akamai Technologies blamed delays on its data-centre vendors, offering little additional detail.
Pfizer, which has historically released its impact report by April, also deferred publication. A company spokesperson said the delay was necessary to accommodate internal processes aligned with emerging global ESG regulations. Its report was eventually issued this week.
The absence of such disclosures—temporary or otherwise—is seen by many as a setback for corporate transparency. Investors increasingly rely on ESG reports to evaluate a company’s long-term resilience, ethical standing, and risk management.
According to Martin Whittaker, CEO of Just Capital, roughly 25% of ESG-related reports are behind schedule this year. “The consequences of reported information are much greater now than they were a decade ago,” he said, pointing to intensified scrutiny from both sides of the political spectrum.
Activist investors have responded with measured understanding. Andrew Behar, CEO of As You Sow, noted that corporate executives are privately requesting leeway on reporting this year. “We told them to not put themselves at risk right now,” he said. “That isn’t good for anyone.”
The caution may be justified. GianCarlo Canaparo, senior legal fellow at the conservative Heritage Foundation, warned that corporate leaders are wary of being investigated. Trump has reportedly instructed agency heads to compile a list of organisations suspected of unlawful DEI practices. Though the list remains confidential, Canaparo said companies are treading carefully: “If you’ve been using race preferences, you really want to make sure you don’t get caught.”
