Done with DEI: Why Toyota will no longer sponsor LGBTQ+ Pride parades

[Lori Dee]

Done with DEI: Why Toyota will no longer sponsor LGBTQ+ Pride parades
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World Desk / TIMESOFINDIA.COM
Oct 5, 2024, 11:14 IST

Toyota, the car manufacturer, has revealed a shift in its approach to diversity, equity, and inclusion (DEI) programmes, announcing that it will no longer sponsor cultural events and parades such as LGBTQ+ Pride in the US.

Bloomberg reported that Toyota also intends to withdraw from participating in cultural surveys and will discontinue its involvement in the Human Rights Campaign (HRC) annual Corporate Equality Index, where the company had once received a perfect score for its DEI efforts.

The car manufacturer plans to redirect its employee resource groups to focus on professional development, networking, and mentoring, aligning these efforts more closely with business objectives.

Other businesses, including Ford, Harley-Davidson, John Deere, and Stanley Black & Decker, have recently taken similar actions.

Research from GLAAD shows that ... 71% of LGBTQ+ adults in the US prefer to purchase from brands that demonstrate support for the community. With 30% of Generation Z adults in the US identifying as queer, and their collective spending power exceeding $1.4 trillion (£1.06 trillion)...

The HRC's 2024 LGBTQ+ Climate Survey found that 80% of LGBTQ+ Americans would boycott businesses that drop DEI policies, with 52% stating they would actively encourage others to do the same.

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