Shareholders reject anti-DEI push as investors defend diverse workplaces

Wall Street shareholders aren't interested in corporate moves to eliminate diversity, equity, and inclusion (DEI) initiatives, the 2026 proxy voting season is showing.

- KAREN JUANITA CARRILLO

Anti-DEI shareholder proposals were rejected by about 99% during the spring proxy voting period. Proxy season is the time, usually between April and June, when public companies hold annual meetings and shareholders vote on issues that affect how those companies are run. Most investors do not attend the meetings in person; they vote by proxy or send in their vote by mail.

Andrew Behar, CEO of the nonprofit shareholder advocacy group As You Sow, said the results from this proxy season give company boards a clear reason to keep lawful diversity programs in place: Shareholders are saying they want their companies to hire and promote from the widest possible pool of talent. Anti-DEI resolutions were defeated, Behar told the Amsterdam News, "And they have been just soundly, I mean, soundly defeated. We've not seen any get above a 98% vote against, so shareholders are sending a very strong message to corporations that we want you to continue to have a diverse workforce." This year, according to the Harvard Law School Forum on Corporate Governance, conservative groups filed 43 anti-DEI resolutions through May 31. Of the 22 anti-DEI resolutions that had been voted on by then, support averaged only about 1%.

Visa shareholders gave an inclusion audit proposal 0.9% support.