Strategic re-organization or adaptation-based trend? DEI reporting in banking in Brazil, the US and Italy

Purpose Since the beginning of 2025, the US Government aimed at dismantling Diversity, Equity and Inclusion (DEI) programs across industries – after years where DEI efforts picked up pace, including in the private sector. This paper investigates DEI reporting and evaluates if DEI engagement has been an adaptation-based trend and can be taken away like a label, or if it is cultivated in organizational contexts and has re-organized them with the potential to mitigate the dramatic change in policy. Design/methodology/approach DEI reporting within the banking sector across Italy, Brazil and the United States is analyzed with a mixed-methods approach, combining cross-linguistic corpus-assisted discourse analysis, qualitative visual analysis and expert interviews to assess DEI reporting across countries and its underlying drivers. Findings DEI reporting is primarily shaped by market expectations and rating agencies rather than a reflection of deep organizational change. Across countries, heteronormativity and racial stereotyping persist, reinforcing the very power structures DEI efforts aim to challenge. Thus, DEI reporting appears as a fleeting business trend. This supports the assumption that DEI reporting and engagement are more adaptation-based and are more likely to fall under a new, dismissive policy. Originality/value This study provides comprehensive insights into DEI reporting as one so far under-researched area of sustainability communication and highlights its unrealized transformative potential – which is now coming to light. It contributes to diversity management, leadership and social responsibility communication by emphasizing that DEI reporting brings transformative potential but has to fully realize its impact within organizational structures to secure its long-term relevance.