<p><span style="font-weight: 400;">Goldman Sachs plans to scrap its race, sex, and other DEI factors when considering potential additions to its board of directors.</span></p>
<p><span style="font-weight: 400;">The board’s governance committee made the decision to axe DEI metrics from its list of qualifications for new board members after striking an agreement with the National Legal and Policy Center, a conservative nonprofit, according to </span><a href="https://www.wsj.com/finance/goldman-sachs-board-dei-57fea527?mod=hp_lead_pos2"><span style="font-weight: 400;">The Wall Street Journal</span></a><span style="font-weight: 400;">.</span></p>
<p><span style="font-weight: 400;">The committee has four broad factors it considers when looking for new board members, one of which is a demographic profile that includes viewpoints, military service, and other markers, as well as DEI variables such as a person’s race, sex, sexual orientation, and gender identity. Going forward, the committee plans to strip away the DEI calculations from its rubric for board candidates.</span></p>
<p><span style="font-weight: 400;">The National Legal and Policy Center has a small ownership stake in Goldman Sachs and in September, proposed that the committee strip away the DEI component of its board member criteria. The center had requested that the bank share the proposal with shareholders ahead of its annual shareholder meeting scheduled for this spring, but Goldman Sachs struck an agreement with the center that involved pulling the proposal and the bank scrapping its DEI metrics anyway.</span></p>
<p><span style="font-weight: 400;">Goldman Sachs had last year dropped its DEI requirements for companies that wanted the bank’s help in listing for an IPO.</span></p>
<p><span style="font-weight: 400;">Goldman Sachs’ curbing of its own DEI policies comes as the Trump administration has pursued policies to push such metrics out of the federal government while wielding federal powers to push companies to distance themselves from DEI as well. President Donald Trump, on his first day of his second term, took a stand against DEI, ordering federal departments and agencies to begin cutting DEI positions in the government.</span></p>
<p><span style="font-weight: 400;">The president also directed federal agencies to look into companies with DEI policies for potential discriminatory practices. In February of last year, the president </span><a href="https://www.dailywire.com/news/trump-targets-two-financial-firms-over-dei-and-esg-push"><span style="font-weight: 400;">took</span></a><span style="font-weight: 400;"> aim at two financial firms, Institutional Shareholder Services and Glass Lewis, that the president said were pushing racial quotas and climates activism on numerous other companies.</span></p>
<p><span style="font-weight: 400;">At the time, both firms had guidelines that had the potential to impact a wide swath of companies that encouraged them to adopt DEI criteria in promotions to their board. They also had similar guidelines directing companies to take steps to address climate change.</span></p>

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Goldman Sachs Will No Longer Judge Board Members By DEI Metrics