A new survey of Fortune 1000 companies reveals that corporations are dramatically scaling back their public expressions of support for the LGBTQ+ community. It’s a trend LGBTQ+ organizations across the country have already reported in the lead-up to Pride celebrations this year.

Nearly two-fifths of corporations plan on reducing engagement for Pride Month this June, according to a survey of corporate executives by Gravity Research.

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Among 49 Fortune 1000 executives surveyed, those who said they were scaling back financial and public support cited pressure from conservative activists and the president, whose executive orders have gutted diversity, equity, and inclusion initiatives and targeted the transgender community, Forbes reports.

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Of those, nearly half said they would reduce public-facing support, including a visual presence and sponsorship of Pride celebrations, Pride-specific merchandise lines, social media branding, and partnering with influencers for Pride-themed sponsorships.

That number “would’ve been unthinkable just five years ago,” said Gravity Research president Luke Hartig.

The survey “reveals just how dramatically the cultural and political tides have turned,” he added.

Last year, just 9% of companies said they would change their Pride Month engagement plans.

About two-fifths of the companies said their support for Pride this year remains unchanged.

One unnamed corporate executive said their company would reduce Pride Month support on social media to “minimize public visibility that could trigger attention.” Another big brand leader said their company has “reduced risk across all heritage month events” by “focusing internally and doing what’s right for our people and not necessarily shouting to the world about it.” 

Business-to-consumer companies are more likely than business-to-business companies to prepare for Pride Month-related backlash, 71% to 53%. The response reveals a fear of “increased public pressure and threat of consumer backlash,” the research company said.

St. Louis Pride said Anheuser-Busch, a 30-year sponsor of their hometown city’s Pride celebrations, withdrew all support this year following a boycott of the company over their association with trans influencer Dylan Mulvaney. The company’s sales of Bud Light dropped 26% amid the backlash.

The beer brewer dropped San Francisco Pride, as well, joining previous sponsors Comcast and alcoholic beverage company Diageo. The withdrawals add up to $200,000 in lost funding for one of the largest Pride celebrations in the country.

Houston Pride told Forbes that corporate support is down by as much as 75%, totaling $100,000 in lost funding. 

Conversely, Twin Cities Pride cut ties and forfeited support from their own hometown sponsor, Target, after the retail giant scaled back their diversity, equity and inclusion efforts.

Target’s foot traffic has been down for 11 straight weeks following the decision, according to Retail Brew.

In recent years, right-wing media figures have said that they wish to make the LGBTQ+ community “toxic” to companies. Right-wingers have also led efforts to get companies to roll back their own DEI commitments.

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