McDonald's quietly removes 'ESG' from parts of its website

Many U.S. companies, including the fast food titan, have faced a backlash against ESG-related shareholder proposals.

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Aug 12, 2023 - 21:01
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McDonald's quietly removes 'ESG' from parts of its website

U.S. companies have faced a backlash against ESG-related shareholder proposals affecting issues like workers’ rights and diversity, which some conservative politicians and policymakers have labeled as “woke capitalism.” The U.S. Supreme Court’s ruling against affirmative action in college admissions has also sparked fierce debate, with corporations now questioning whether they should publicize diversity efforts.

Last month, an Ohio-based asset management firm co-founded by Republican presidential candidate Vivek Ramaswamy sent a letter urging McDonald's to do away with some of its diversity policies in the wake of the court's ruling.

McDonald’s engages with key stakeholder groups on environmental and social issues where it can have the greatest impact “against the backdrop of a continually changing external landscape,” according to the company’s website.

—Bloomberg News