The past decade has been characterized by what scholars call the “great awokening.” Data show that the use of words such as “privileged," “systemic racism,” and “racial disparities” in media reports has skyrocketed in recent years. Explaining this phenomenon, Vox wrote, “In the past five years, white liberals have moved so far to the left on questions of race and racism that they are now, on these issues, to the left of even the typical black voter.”

In 2020, this exploded in the United States following the murder of George Floyd. America’s “racial reckoning” had a number of residual effects, one of which was a precipitous rise in corporations embracing left-wing racial politics in the form of diversity, equity, and inclusion initiatives and environmental, social, and corporate governance standards.

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Beginning in the second quarter of 2020, the Wall Street Journal recorded a steep rise in “U.S.-listed company earnings calls where executives mentioned” ESG, DEI, or “sustainability.” By the first quarter of 2022, the number had reached its peak of 942, representing a 554% increase since 2018.

Now, that is starting to change.

A new Wall Street Journal report found that "companies’ mentions of green and social initiatives during earnings calls have fallen off sharply in recent quarters, reversing a more boastful approach taken over the past few years amid intensifying pressure from some investors and conservative activists."

The recent drop is almost as steep as the initial spike. The number of mentions has dropped by 31% since this time last year and nearly 40% since the peak in the first quarter of 2022. One of the important reasons this is happening is conservative pressure campaigns on various corporations in recent years — the most successful of which have taken place over the past few months.

These numbers are significant because while there have been anecdotes of and reports that companies are increasingly staying out of the culture war, this is the first time the changes can be quantified.

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It is necessary to note, though, that while the companies may be pulling back on the woke rhetoric, the Wall Street Journal report indicated that “there is little sign that public companies are pulling back from the [DEI and ESG] initiatives themselves.” Even so, the new data remain good news. It means these corporations are taking steps in the right direction. And while it will not happen overnight, the emphasis they place on certain initiatives over others in situations when it counts, such as earnings calls, certainly signals something real.

In order to keep this momentum going, conservatives must understand what they are up against. The woke have engaged in a long march through America’s institutions over the course of more than a decade, attempting to remake them in their image. To reverse this, it will take more than a few months. Rather, it will take a similarly long, dedicated effort. There is a long road ahead, but at least now we’re walking the right way.

Jack Elbaum is a summer 2023 Washington Examiner fellow.