Axios has an item on corporations beginning to stay silent on public controversies, which is a welcome trend. Why the new reticence? The publication cites these reasons:
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Power dynamics. Companies aren’t facing public and internal pressure to make external statements.
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Economic uncertainty. The tech industry — which was previously out front on many of these issues — is now going through massive cuts and is focused on staying afloat, not wading in. Many tech companies have gutted their DEI departments in response to economic strains.
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ESG pushback. Recent pushback from activist investors, state and federal legislators, has caused businesses to become more skittish on environmental, social, and governance initiatives.
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Fatigue. “There’s a sensitivity to not making a statement every time something happens,” Paul Washington, executive director of the ESG Center at the Conference Board told Axios’ Emily Peck. Companies don’t want to get into the routine for fear of being asked, “Why did you say something about that, but not this?”