Goldman School of Public Policy

And, you know, credit to Josh Wink.

Josh Wink is a student, graduate student at UC Berkeley, Goldman School of Public Policy, worked with us over the summer as an energy fellow and did a great job helping us dig up all of this really good data about both extreme heat and how it's on the rise in California.

I mean, we all know California is a hot state.

You know, on the one hand, you go, OK, why is that news? But it's not only are we seeing more days that are hot,

But new research found that companies that resisted the pressure and kept their DEI practices, including Costco, Apple, and Delta Airlines, performed just as well as their competitors who pulled back.

For the research, Jacob Grumbach, an associate professor at the University of California at Berkeley's Goldman School of Public Policy, analyzed how S&P 500 companies fared after Trump's January executive order.

He used what economists define as abnormal returns, the difference between how a stock was expected to perform versus how it actually performed to isolate the impact of a company's DEI decision.

What he found was the firms that kept their DEI policies or voted down anti-DEI shareholder resolutions did just as well financially, even after Trump's executive order, as firms that didn't.