Goldman Sachs has ended a ban on underwriting companies with all-White, all-male boards, becoming the latest corporate giant to scale back a DEI initiative.

The vice chair of Goldman Sachs has announced the bank has axed a diversity rule which excludes white men. As a result of legal challenges and political scrutiny, the bank has dropped its IPO board diversity requirement entirely,

Goldman Sachs introduced its diversity policy on boards in 2020, initially mandating that companies who wanted to float had to have one diverse member, before increasing it to two people.

Goldman Sachs is canceling a pledge to ensure diversity on the boards of companies it helps go public. Why it matters: It's the latest corporate rollback of diversity, equity and inclusion initiatives following conservative blowback and a series of court rulings calling certain quotas into question.

Goldman Sachs (GS) is reportedly reversing its policy that barred companies with all-white, male boards from going public, dropping the diversity requirement it set in 2020.

Goldman Sachs have become the latest company to scrap their diversity programmes following the Trump administration’s signing of an executive order which was aimed at ending "radical and wasteful government DEI [diversity, equity, and inclusion] programs".