The Globe and Mail reports in its Saturday edition that three sponsors have pulled out of Toronto's Pride festival amid a wave of retreat from diversity, equity and inclusion initiatives across corporate Canada and in the United States. The Globe's Irene Galea and Clare O'Hara write that Pride Toronto's Kojo Modeste told The Globe that three sponsors had dropped out, but he would not name the companies because he is in conversations to see if they will reconsider. Nissan Canada confirmed Friday it is withdrawing, but the other two sponsors have not been identified. "We are in an era where every dollar counts," Mr. Modeste said. "The cost of doing the festival has increased drastically, and we have not seen an increase in sponsorship. So, losing sponsors has made it a lot harder for us to be able to deliver on all of our commitments." Mr. Modeste said two "gold" and one "silver" level sponsor -- meaning they provide $150,000 and $100,000, respectively -- have backed out. Of the 14 companies listed as gold and silver sponsors on the Pride Toronto website, several have already confirmed to media that they will continue to finance the event. These include the Ontario Lottery, Tim Hortons, Air Canada, Rogers and Smirnoff.