Orgoglioorientamenti affettivi e comunità lgbtiq+

Rethinking inclusion in a changing world

Five years ago, Jens Schadendorf published GaYme Changer: How the LGBT+ Community and their Allies are Changing the Global Economy. The book was nominated for the Financial Times Business Book Award, shortlisted for the UK Business Book Awards, and published in four languages. The economist, who lives in Munich, published his new book in German in 2026, Der bedrohte Regenbogen (The Threatened Rainbow). Next spring, an extensively expanded English edition will be released under the title The Rainbow Momentum. Intended for a global audience, it will devote even greater attention to the dynamics of corporate inclusion taking place not only in the United States and Europe, but also in Asia, Latin America, and other regions of the world.
By Elisa Belotti
01 Oct 2026

To begin, let’s start with GaYme Changer. What was the central message of the book, which many people now consider a reference point?
Based on research conducted across five continents, GaYme Changer highlighted the growing economic and social relevance of diversity and the inclusion of LGBTIQ+ people in workplaces and contemporary societies at the time of its publication in 2021. One of the book’s central arguments is that the inclusion of queer people in workplaces and leadership positions is not only a matter of human rights and social justice, but also a driver of innovation and economic performance. When LGBTIQ+ people can work openly and authentically, they contribute in more creative and effective ways. Diverse and inclusive organizational cultures encourage people to share ideas, challenge assumptions, and collaborate productively. In other words: including LGBTIQ+ people is not only the right thing to do, but it is also good for businesses and the economy as a whole. Your new book in German builds on the reflections developed in GaYme Changer, but tells a slightly different story. The full title, translated, is The Rainbow Under Threat: How Businesses and Societies Can Protect Diversity and Benefit from It. Why did you decide to write it? I have been working at the intersection of LGBTIQ+ communities, businesses, and society for almost fifteen years. For much of that time, positive news was coming from many parts of the world. Today, however, well-structured DEI initiatives and efforts to promote the inclusion of LGBTIQ+ people are facing strong headwinds. From an economic, political, and ethical perspective, this is a worrying development. I wanted to offer a constructive counterpoint.

What is the book about?
Since taking office, the US administration has deliberately targeted workplace diversity initiatives, with particular attention to the LGBTIQ+ community. In doing so, it is attacking not only the fundamental pillars of democratic society, but also the essential foundations of economic success. In the first part of the book, I provide a concise analysis of the actors, narratives, and dynamics driving these developments. One conclusion emerges clearly: for the foreseeable future, we have to accept that the United States has moved from being a global leader on diversity and LGBTIQ+ inclusion to becoming a force capable of slowing down progress.

And what about Europe?
As always, Europe is affected by developments in the United States. There is no doubt that Europe is also experiencing a backlash today. We are witnessing the growth of populist and far-right parties mobilizing against wokeness and queer inclusion, an increase in online hate speech, violence against LGBTIQ+ people, attacks on Pride events, and other worrying developments. At the same time, however, encouraging developments are emerging across the European business landscape. In particular, the picture regarding workplace LGBTIQ+ inclusion initiatives is much more positive than it might appear at first glance. This is the central theme of the second and more extensive part of the book. I show how companies have entered a new phase of DEI management. The fundamental question is no longer whether LGBTIQ+ inclusion creates value, as I argued in GaYme Changer, but how to preserve that value in an increasingly fragmented and rapidly changing political and legal environment. The United States and Europe now represent two different trajectories. In the United States, many companies have become more cautious in response to growing political and legal pressure. Some have reduced the visibility of their DEI initiatives and LGBTIQ+ inclusion programs, or adapted their public communications to reduce legal and reputational risks. This is an understandable choice, but it also carries risks. Taking a step back from LGBTIQ+ inclusion and other forms of inclusion can undermine employee trust, weaken the capacity to innovate, and ultimately reduce competitiveness. Europe, by contrast, continues to benefit from a relatively strong regulatory framework on equality and human rights. Although political polarization is also increasing here, many European companies continue to regard LGBTIQ+ inclusion as an integral component of responsible corporate governance, rather than as a political statement. As a result, the focus is shifting away from symbolic campaigns toward the deeper integration of DEI into leadership, talent management, and organizational culture.

Are there any concrete examples?
The data and stories I have collected come primarily from Western Europe, but also from Central and Eastern Europe, including Poland, perhaps surprisingly to some people. I explore the context in which these developments have taken place and share the experiences of companies such as Audi, Beiersdorf, BNP Paribas, Deutsche Bank, Henkel, IKEA, ING, MSD, PwC, Sandoz, and many others. Civil society organizations working at the intersection of business and LGBTIQ+ communities also play an essential role. These include the Workplace Pride Foundation in the Netherlands, the Prout at Work Foundation in Germany, Spain’s REDI, Swiss LGBTI Label, Pride Biz Austria, and the rapidly growing European Pride Business Network, which brings together more than 25 nonprofit organizations, including France’s L’Autre Cercle, Italy’s EDGE, and Open for Business, a London-based coalition of major global companies. Together, these organizations have created a strong ecosystem, led and supported by queer and non-queer leaders and allies. Although they are very different from one another, they have developed a distinctly European approach to collaboration between businesses and LGBTQ+ communities: an approach that is flexible, rooted in democratic values, and focused on long-term success. By combining economic pragmatism with social responsibility, this ecosystem continues to advance LGBTIQ+ inclusion despite an increasingly complex environment.

So, are there both good and bad news?
Yes, I am not naïve. It is clear that hate speech, violence, and campaigns against queer people promoted by actors on the right, including extremist parties and politicians, will not disappear overnight, either in the United States, Europe, or elsewhere. The economic environment will also remain difficult in the foreseeable future. Promoting LGBTIQ+ inclusion in workplaces and society will not become any easier. For this reason, it is wise not to expect miracles. Instead, companies and the ecosystems they are part of need to rethink some of their approaches to diversity – however they choose to define it – and to LGBTIQ+ inclusion initiatives, in creative ways, in order to identify new paths forward. The examples presented in the book show concretely how this can be done. The final section presents a Guide to Smart Action, developed from my analysis and the cases presented. It highlights the aspects that companies, nonprofit organizations, and other key stakeholders should consider today – in turbulent times characterized by strong headwinds – in order to seize the opportunities offered by queer inclusion. In any case, I expect companies to adopt increasingly differentiated approaches in the years ahead. These approaches will need to reflect the different political, legal, and cultural realities of the territories in which they operate, while remaining firmly grounded in their core principles: equal opportunities, non-discrimination, and people’s well-being. At a time of profound political and social change, these decisions are of enormous importance. They affect not only the success of businesses, civil society, and queer and non-queer people, but also the very foundations of the market economy: resilience, stability, creativity, productivity, dignity, respect, and equal opportunities. Isn’t this the kind of world we would all like to live in?

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