Goldman Sachs is preparing to remove race, gender identity, sexual orientation and other diversity factors from the criteria its governance committee uses to identify potential candidates for its board, The Wall Street Journal reported.

The committee currently evaluates candidates based primarily on four factors, one of which includes a broad description of diversity, including viewpoints, background, work and military service, and “other demographics,” the Journal said. Under the planned revision, Goldman would strike the “other demographics” component, including references to race, gender identity, ethnicity and sexual orientation.

The change follows a behind-the-scenes request from the conservative activist nonprofit National Legal and Policy Center (NLPC), which owns a small stake in the bank. NLPC submitted a shareholder proposal in September seeking removal of the DEI criteria and asked that it be included in Goldman’s proxy statement ahead of the annual meeting this spring, the newspaper said. 

Goldman told NLPC it plans to remove the criteria, and the two parties signed an agreement in which NLPC withdrew its proposal. Goldman’s board is expected to approve the new language this month, according to the report. 

Last year, Goldman decided to drop a prior requirement that companies in the U.S. and Western Europe have diverse boards for the bank to take them public. The news outlet also said Goldman retooled its One Million Black Women initiative, removing references to race.

Read more at The Wall Street Journal