Retreat of rainbow capitalism returns Pride to roots

As the clear-up from Saturday's London Pride begins, a question mark hovers over similar events around the world: where is the money going to come from?

- Hugh Greenhalgh

Companies are rolling back their diversity, equity and inclusion (DEI) spending, spurred in part by Donald Trump's attack on diversity initiatives, and sponsorship for Pride marches has been reduced.

Figures from the UK Pride Organisers Network provided to Bloomberg show that three-quarters of more than 100 Pride groups around the UK reported a drop-off in corporate funding. More alarmingly, 25% of those said that sponsorship money had fallen by more than half.