Goldman Sachs is withdrawing a ludicrous internal rule that required the company to prioritize racial, ethnic, and gender diversity (over competency) when adding people to its board. It has also backed off of a similar DEI commitment for companies it was taking public.

Defeating DEI and ESG in corporate board meetings and shareholder resolutions has been a top initiative for us at UP. But in this case we tip our hats to the National Legal and Policy Center, a conservative group that pushed the change at Goldman Sachs last year.

This is a big domino to fall. Goldman has been a vocal and self-righteous advocates of DEI activities since the George Floyd incident in 2020.’It launched a $10 million “Fund for Racial Equity,” to support groups “addressing racial injustice, structural inequity and economic disparity.” This was followed by the spasm of DEI initiatives a few years back. The pendulum is finally swinging back and the race and gender hustlers are (for now) in full retreat.