Disney shareholders have rejected a proposal that would require it to withdraw from a corporate equality index.

According to its website, the Human Rights Campaign Foundation’s Corporate Equality Index (CEI) is intended to uphold LGBTQ+ workplace inclusion through its benchmarking tool that measures “corporate policies, practices, and benefits pertinent to lesbian, gay, bisexual, transgender and queer (LGBTQ+) employees.”

“For 22 years, the CEI has served as corporate America’s roadmap for LGBTQ+ workplace inclusion—not as a political statement, but as a framework for building stronger, more competitive businesses where all talent can thrive,” Human Rights Campaign President Kelley Robinson said in a statement shared in its 2025 CEI report.

She later added, “The path forward requires courage, commitment, and clarity of purpose. We will continue to serve as a partner on this journey. Together, we’re building not just better workplaces, but a stronger, more competitive, and more equitable American economy.”

Fox Business reports that Disney has participated in the Human Rights Campaign’s CEI for a long time, while Fast Company states that Disney received a “perfect score” in the 2025 ranking.

The National Center for Public Policy Research recently presented a proposal to shareholders urging Disney to withdraw its participation in the index, according to Fox Business. Companies such as Ford, Harley-Davidson, and Lowe’s have already taken similar steps to back away.

While Disney has retracted some of its diversity, equity, and inclusion (DEI) commitments to align with the Trump administration, it appears it won’t be changing its involvement with the Human Rights Campaign’s Corporate Equality Index.

Disney’s board advised shareholders in its Securities and Exchange Commission (SEC) filings to “vote against” the proposal, according to the outlet. Their reasoning was that it did not “provide additional value to shareholders” and that Disney “provides transparency on a wide range of matters important to shareholders including through participating in external surveys.”

Shareholders are in alignment with the board and did not approve of the proposal. Although it was not an unanimous decision as 1% voted in favor.

“It is not surprising that our proposal received low support, given the concerns we have about bias and conflicts of interest infecting the votes and recommendations of the Big 5 asset managers and proxy advisors, as well as the company’s management,” Stefan Padfield, executive director of the National Center for Public Policy Research’s Free Enterprise Project, told USA TODAY.