Where Brands' DEI Pledges Stand 5 Years After George Floyd

On May 25, 2020, George Floyd was murdered by a white police officer in Minneapolis. The tragedy sparked national outrage and a resurgence of the Black Lives Matter movement, as people took to the streets of major cities across the country to protest and demand justice. Brands reacted, too. Companies including Walmart, Target, and Starbucks launched commitments to diversity, equity, and inclusion in the workplace and beyond, implementing inclusive hiring goals and making long-term investments in internal racial equity programs as well as supporting initiatives within underserved communities. Five years on, with an executive order from President Donald Trump in place to “end radical and wasteful government DEI programs and preferencing,” the majority of 2020 pledges made by brands have disappeared. For Sheryl Daija, founder and CEO of global DEI marketing trade group BRIDGE, brands’ initial pledges, specifically in support of the Black community, were well-intentioned, but DEI has since evolved from a practice to a buzzword, and now something more political. “The practice of DEI has been happening in companies for the last 40 years. It’s not new, it’s an extension of the Civil Rights Movement,” she said. “The goal for DEI has always been to expand the opportunities given to more people that reflect the communities and consumers that companies serve,” she said. “Instead of rolling back DEI, companies should be thinking about how they [can] leverage it for business opportunities.” ADWEEK reached out to some of the high-profile brands that made public DEI pledges in 2020 to get an update on their progress in 2025. Walmart 2020 Pledge: Walmart created its Center for Racial Equity through a five-year, $100 million commitment to “address the root causes of gaps in outcomes experienced by Black and African American people in education, health, finance, and criminal justice systems.” By 2021, the brand distributed the first set of grants totaling $14.3 million to various nonprofit organizations. In addition, it also invested $5 million into North Carolina A&T State University for its Equity in Education Initiative, which aims to get more Black college graduates into careers in fields like business and engineering. 2025 Progress: A Walmart spokesperson confirmed to ADWEEK that the retail giant is on track to fulfill its $100 million commitment this year. Per its 2024 Annual Belonging, Diversity, Equity, and Inclusion Report, the Center for Racial Equity has invested more than $80 million through Walmart and the Walmart Foundation. What's next? Walmart began scaling back its DEI efforts before federal mandates kicked in. The retailer told ADWEEK it would not be renewing its Center for Racial Equity. Last November, Walmart confirmed that it would no longer use the term “DEI” in its communications (favoring the word “belonging”), will review grants to Pride events, and no longer consider gender and race when offering contracts to suppliers, among other pullbacks. Bank of America 2020 Pledge: Bank of America pledged $1 billion over four years to help local communities address economic and racial inequality. It later increased this to $1.25 billion over five years in 2021. The increased funding was intended to further support investments to address racial justice, advocacy, and equality for people and communities of color, including those of Asian descent. 2025 Progress: Per the company’s 2024 annual report released in March, it has exceeded its $1.25 billion goal. A Bank of America spokesperson declined to share by how much. What’s next? Bank of America excluded references to diversity and inclusion in its 2024 annual report, something it has highlighted in previous reports. The company did not respond to a request for more information about the exclusion, or whether the $1.25 billion investment would be renewed. Target 2020 Pledge: In 2020, Target launched Racial Equity Action and Change (REACH), a committee of diverse senior leaders tasked with guiding the brand’s efforts to help “end systemic racism in the U.S. and drive lasting impact for the Black community.” The retailer also announced plans to increase its representation of Black team members companywide by 20% over three years. In 2021, Target announced a commitment to spend more than $2 billion with Black-owned businesses by the end of 2025. It also pledged $10 million to nonprofit organizations focused on addressing barriers for systemic and structural Black communities, and in 2022 enhanced its Target Scholars Program, providing 1,000 first-year students at more than a dozen HBCUs $15,000 scholarships over three years. 2025 Progress: When contacted by ADWEEK, Target did not confirm whether its $2 billion investment and Target Scholars scholarships were on track to be fulfilled by the end of this year. It also did not confirm whether its promised $10 million investment has been fulfilled. What’s next? In January, Target announced that it would conclude REACH initiatives, including its three-year DEI goals. It is also stopping all external diversity-focused surveys, including the Human Rights Campaign’s Corporate Equality Index, which measures workplace policies, practices, and benefits relative to LGBTQ+ employees. Starbucks 2020 Pledge: In 2020, Starbucks announced it was setting and tracking annual inclusion and diversity goals of at least 30% BIPOC representation at all corporate levels and at least 40% of all retail and manufacturing roles by 2025. The Starbucks Foundation also pledged $1.5 million in Neighborhood Grants (which started in 2019) to prioritize community-based nonprofit organizations focused on local impact. It also invested $5 million to launch a two-year initiative supporting nonprofits that serve BIPOC youth. 2025 Progress: Per an October update from Mark Brown, Starbucks’ svp of talent and inclusion, the coffee chain has “made progress on the racial and ethnic diversity of Starbucks in the U.S.,” with diverse partners representing more than 51.9% of its retail team and more than 37.9% of its corporate roles. However, Brown stated that it has made less progress in its manufacturing teams. A Starbucks spokesperson confirmed to ADWEEK that its Neighborhood Grants program is ongoing. The brand has also fulfilled its two-year, $5 million investment, supporting eight youth organizations during that timeframe. What’s next? Despite facing lawsuits alleging that its DEI policies violate civil rights laws, Starbucks CEO Brian Niccol doubled down on the company’s commitment to diversity, stating in its annual shareholder meeting in March that “diversity is going to continue to be a key strength of our business and frankly, helps us connect with our customers at another level.” Chief partner officer Sarah Kelly said Starbucks is “deeply committed to diversity” and is "developing and designing programs focused on how we create and foster that inclusion, from strong partner networks to rewarding our senior leaders for creating a culture of belonging.”

Diversity, Equity and Inclusion

Where Brands' DEI Pledges Stand 5 Years After George Floyd

Many big names made DEI commitments in 2020. Here's what they look like in 2025.

Cydney Lee

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