The insight: Few retailers have rolled out sustainability initiatives during this year’s Earth Month, an indication that both they—and shoppers—have different priorities as the political climate shifts and tariffs and economic uncertainty take center stage.

How we got here: Companies’ newfound reluctance to engage with sustainability is partly a result of growing pressure against environmental, social, and governance (ESG) proposals from conservative activists and the White House.

• Investors filed 112 anti-ESG proposals in 2024, more than quadruple the number put forth in 2021, per the Conference Board—with more likely to come this year.
• They’ve also been vastly more successful in getting shareholders to seriously consider them: 91 were put to the vote last year, compared with just six in 2021.
• While the number of climate-related proposals was steady last year compared with 2023, shareholder support fell slightly—which may have given companies like Walmart and Coca-Cola the confidence to water down their sustainability pledges without fear of backlash.