Why it matters: The beer maker's stance is notable given the ongoing right-wing backlash and boycott of major brands that embrace the gay and transgender community, like its competitor, Bud Light.

State of play: The Coors Light Denver Pride Parade this Sunday is the largest to date with an estimated 15,000 people marching and another 100,000-plus expected to watch along the route, according to organizers.

None of its major sponsors — including Target, Nissan, U.S. Bank, Absolut Vodka, Visa and Wells Fargo — have expressed concerns, according to Rex Fuller, CEO of the Gay Lesbian Bisexual and Transgender Community Center of Colorado, which organizes the parade.

What they're saying: The Center's Fuller sees this moment — when conservatives are pushing anti-transgender legislation and leveling attacks — as an opportunity to make a point and "not the time to give into bullying."

"This is kind of the hard part of allyship," he said, referring to the sponsors' support. "We are in a time period when it can be quite fashionable in some corners to pretty openly express homophobic, transphobic (sentiments) and racism, and I think that can make this uncomfortable at some points."

Of note: Molson Coors, the Chicago-based parent of the Golden brewer, declined to discuss its sponsorship, but spokesperson Adam Collins said in a statement that the company has sponsored the parade for decades and will continue to support LGBTQ pride "for decades to come."

The other side: Other brands are retreating from their support for the LGBTQ community. Anheuser Busch, the parent company of Bud Light, Kohl's and Target, saw a $29 billion loss in market value amid the controversy.