The world of corporate ESG is in flux. The past few years saw an era of expanding commitments, bold language, and significant investment in corporate sustainability and equity. But today, we are witnessing a profound shift—one marked by political and cultural headwinds, legal scrutiny, and an evolving business calculus that is forcing leaders to adapt in real time.
To understand how corporate changemakers are navigating this moment, we convened a series of small-group conversations with dozens of Fellows from the Aspen Institute’s First Movers and Economic Mobility programs. These individuals are mid-career leaders in large, well-known companies, driving initiatives that create business value alongside positive social or environmental impact. They are passionate professionals who believe deeply in the power of business.
These discussions were equally frustrating and enlightening, offering meaningful insights into the current context of corporate America and raising important questions about where we’re heading next. Here are four key questions I’ve been considering since the dialogues—questions that corporate leaders, intrapreneurs, and anyone invested in the future of business and society should be asking right now.
Does Changing the Language Change the Work?
Many companies are retreating from public commitments to ESG and DEI, adjusting their messaging to avoid political backlash. While some see this change as a necessary evolution to sustain progress in a challenging environment, others worry that the core intent of the work is being diluted.
Shifting language may allow companies to continue meaningful efforts without drawing controversy, but it also risks making these initiatives more fragile—easier to erode when external pressures intensify. In some cases, companies remain committed to substantive action but are moving their work into less visible channels to avoid scrutiny. This approach raises deeper questions about transparency and accountability: If the work is still happening but no longer openly discussed, does it still hold the same power to shape business culture and influence industry norms?
History suggests that the words companies choose shape not just external perception, but also internal priorities. The challenge is finding a way to sustain impact without ceding ground to those seeking to undermine progress.
Where Are the Hidden Opportunities in This Moment of Retrenchment?
While some view the current climate as a retreat from ESG and DEI, others see a chance to make these efforts more strategic and embedded in business operations. In the past, many initiatives were driven by external pressures rather than integrated into core strategy. Now, companies have an opportunity to shift from symbolic commitments to structural change—prioritizing sustainability and equity goals that align with financial performance and long-term business viability.
Companies that can make sustainability and inclusion efforts fundamental to innovation and risk management will be best positioned to flourish through inevitable social, environmental and technological disruptions
What Does Strong Corporate Leadership Look Like Now?
Corporate leaders today face immense pressure to rescind commitments to workplace diversity and self-censor on their sustainable business ambitions. Some leaders are ceding decision-making on key issues to their legal and risk teams. Others fear that new opportunities and incentives to engage in crony capitalism are enticing some business leaders to seek competitive advantage through political corruption. In our conversations, many participants reported feeling abandoned, sensing a disconnect between the values their companies once championed and the behaviors they now observe. However, history has shown that moments of uncertainty define great leadership. The ability to navigate these tensions while maintaining credibility sets resilient companies apart.
If leaders retreat from their values now, when the risks are primarily reputational, how will they act when more direct business interests, employee trust, or even democratic stability are on the line? The absence of a clear strategy for engaging in these complex issues suggests that many corporate leaders are unprepared for a time when silence is no longer an option.
Strong leadership in this moment requires more than risk management—it demands foresight, courage, and a willingness to shape the future rather than merely reacting to it.
Can State and International Policies Sustain Momentum?
With U.S. federal hostility toward responsible business practices, some companies are looking to state and international policies as alternative pathways for progress. States like California and New York continue to advance sustainability and equity measures, providing opportunities for businesses to maintain their commitments despite national political shifts. Meanwhile, European regulatory frameworks offer more robust incentives and guidelines for corporate sustainability.
While these approaches can help sustain momentum, they also complicate the regulatory landscapes for companies, create new exposures to geopolitical risks, and can fragment corporate strategy. The companies that successfully navigate this environment will be those balancing compliance with innovation, using state and international markets not just as stopgap measures but as platforms for long-term value creation
The question is not whether companies can leverage these policies, but whether they will integrate them into a coherent, forward-thinking strategy rather than waiting for political conditions in the U.S. to shift.
Final Thoughts
Our conversations with corporate intrapeneurs opened the door to a host of critical questions. I find myself deeply invested in the answers—not just as a program director working in corporate impact, but as a citizen navigating this moment alongside so many others.
One question I keep circling back to is this: What’s lost when change-makers are isolated and their goals frustrated? U.S. companies risk alienating or losing the next generation of leaders, those who see sustainability and inclusion as fundamental to business success.
If leaders fail to support these employees, companies don’t just risk losing their corporate conscience—they risk losing the innovators who drive long-term value for business.
This blog post was originally published on LinkedIn. Follow Eli Malinsky for more insights on business and society.