Many large companies scaled back their involvement in Pride Month this year, leaving event organisers around the world scrambling to fill funding gaps. The withdrawal of financial support for Pride marches comes at a time when Pride march organisers are also facing increased security costs. Recent research on U.S. corporations’ Pride engagement by Gravity Research shows a noticeable shift: Nearly 40% of major firms now say they’re reducing Pride involvement, and none reported plans to increase support. The majority cited pressure from government policies, while others pointed to concerns about backlash from conservative audiences.

At the same time, fewer companies are submitting information to the Human Rights Campaign’s Corporate Equality Index that evaluates workplace support for LGBTQ employees.

This shift raises a bigger question about the role of corporate backing in the Pride movement. Many in the LGBTQ community argue that such support has often been more about marketing than meaningful allyship, a practice known as rainbow- or pinkwashing. They argue that sponsoring Pride was an opportunity for corporations involved in gross human rights abuses to improve their public image and see the withdrawal as a chance to rebuild Pride from the ground up.