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 Group Inc. is killing a significant pledge it made to refuse initial public offering business with companies that had all White, male boards.

The company told Axios in 2022 that the policy — requiring at least two non white, male board numbers for IPO-seeking companies — was working.

Goldman Sachs said on Tuesday it has ended a diversity, equity and inclusion pledge tied to the investment bank's initial public offering business.