Goldman Sachs cancelled a four-year-old policy to only take public companies that had two diverse board members, a spokesperson for the bank said on Tuesday, in the latest such move by corporations expecting greater scrutiny on social policies from U.

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.

(Reuters) - Goldman Sachs said on Tuesday it has ended a diversity, equity and inclusion pledge tied to the investment bank's initial public offering business. "As a result of legal developments related to board diversity requirements, we ended our formal board diversity policy," Goldman spokesperson Tony Fratto said.

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.