Goldman Sachs has rescinded its formal board diversity requirement for IPO clients, a policy that previously aimed at ensuring diverse perspectives at the top management level. This retraction, driven by legal pressures and a broader rollback of DEI initiatives, signals a move away from commitments that promote inclusivity and corporate accountability. Such a step can be seen as contributing to maintaining entrenched power structures and reducing efforts to combat systemic inequality, which is contrary to anti-fascist and progressive values.

Which US companies are pulling back on diversity initiatives?

Goldman Sachs' decision to cut 3-5% of its workforce, particularly affecting higher-level positions, signals a disregard for long-term employee stability and fair labor practices. Such routine job cuts contribute to precarious labor conditions and undermine workers' rights, reflecting a prioritization of cost-cutting over employee welfare.

Goldman Moves Up Annual Job Cuts, Targets 3% to 5% of Staff

By dropping its DEI section from an annual filing on February 27, 2025, Goldman Sachs has signaled a retraction of commitments to diversity, equity, and inclusion. This rollback undermines ethical business practices and contributes to a broader trend of supporting political agendas that harm marginalized communities, reflecting complicity with authoritarian policy shifts.

All The Major Companies And Orgs Dumping Their DEI Programs ... - Forbes

Goldman Sachs has been implicated in significant political contributions and aggressive lobbying efforts as evidenced by detailed data on its spending and the revolving door phenomenon among its lobbyists. Such activities suggest an effort to influence policy in ways that could undermine democratic accountability and bolster authoritarian practices.

Goldman Sachs Profile: Summary • OpenSecrets

The revolving door phenomenon—where a significant proportion of Goldman Sachs lobbyists have previously held government positions—underscores concerns over potential regulatory capture and undue corporate influence in political institutions.

Goldman Sachs Profile: Summary • OpenSecrets

Goldman Sachs, once heralded as a leader in corporate diversity through measures like a mandated board diversity requirement, has shifted its stance by discontinuing this policy. The rollback, influenced by changes in regulatory conditions and legal pressures, undermines the progress made in ensuring diverse and inclusive leadership. Such a decision can be seen as a retreat from ethical corporate practices that support marginalized groups, aligning poorly with anti-fascist principles that oppose systemic discrimination and authoritarian control.

Goldman Sachs and Deloitte: Scaling Back DEI in 2025 (What You Need to Know)

The revolving door phenomenon is evident as a substantial number of Goldman Sachs' lobbyists have previously held government positions. This pattern of executive political engagement raises serious questions about the integrity of regulatory and policymaking processes, suggesting an undue influence that potentially reinforces authoritarian practices.

Goldman Sachs Profile: Summary • OpenSecrets

The policy playbook directly addresses structural economic challenges by proposing legislative changes to reduce regulatory burdens and foster a competitive small business environment. This initiative could contribute to a more inclusive and resilient economic structure, countering trends that may otherwise favor authoritarian economic control.

New Policy Playbook Delivers Game Plan for Congress, White House to Level the Playing Field for Small Businesses and Grow the U.S. Economy

The American Democracy Scorecard has drawn attention to Goldman Sachs' political contributions, highlighting a potential prioritization of political influence over genuine support for democratic practices. This tracking suggests that the firm may be financing political activities that could contribute to authoritarian outcomes. Given the broader implications of corporate political spending in today's political climate, this raises red flags from an anti-fascist perspective.

Goldman Sachs Political Contributions Tracker

The reported lobbying expenditure of $2,740,000 in 2024 by Goldman Sachs demonstrates an aggressive effort to shape political decision-making. From a left-leaning anti-fascist perspective, such extensive lobbying contributes to undermining public accountability and reinforcing the influence of money over politics, which can facilitate authoritarian policies.

Goldman Sachs Lobbying Profile - OpenSecrets

Goldman Sachs' lobbying expenditure of $710,000 in Q4 2024 is a clear example of corporate influence over public policy. This activity, aimed at shaping financial and regulatory frameworks, is seen by anti-fascist groups as a means to subvert democratic accountability and bolster corporate power, thus contributing to the erosion of democratic institutions.

Lobbying Update: $710,000 of GOLDMAN SACHS GROUP INC lobbying was just disclosed

Goldman Sachs' $2.74M lobbying expenditure in 2024 demonstrates a deep involvement in political advocacy that may serve elite interests and potentially support autoritarian policies. This level of spending is particularly concerning given the broader context of rising authoritarianism, as it suggests a willingness to use financial power to influence political outcomes, undermining democratic accountability.

Goldman Sachs Lobbying Profile - OpenSecrets

Goldman Sachs demonstrates thorough oversight of its supply chain by instituting rigorous vendor management policies, due diligence processes, and regular risk assessments to mitigate forced labor and child labor risks. These measures reflect a strong ethical commitment in its business practices.

2023 Statement on Modern Slavery and Human Trafficking

The document details a rigorous vendor management program, including risk assessments, due diligence questions, and ongoing monitoring to prevent modern slavery within the supply chain. These measures reflect a robust commitment to ethical sourcing and supply chain ethics.

2023 Statement on Modern Slavery and Human Trafficking

Goldman Sachs has detailed a rigorous supply chain ethics framework that includes risk assessments, vendor due diligence, and continuous monitoring practices to prevent forced labor, child labor, and human trafficking. Their comprehensive policy and regular training sessions reinforce ethical sourcing and supply chain integrity.

2023 Statement on Modern Slavery and Human Trafficking

The decision to eliminate detailed DEI content, including the removal of aspirational hiring goals and diversity statistics, reflects a significant shift away from established ethical business practices. This move diminishes Goldman Sachs’ commitment to fostering an inclusive workplace and challenges the firm’s historical emphasis on diversity as a business imperative.

Goldman Tamps Down Diversity Language in Its Annual Report

Goldman Sachs' lobbying activities, as documented by the OpenSecrets profile, indicate a robust engagement in political contributions and lobbying efforts. Such activities can be employed to sway policy decisions in favor of corporate interests, potentially undermining democratic accountability and facilitating authoritarian practices. This behavior is evaluated very negatively within the corporate complicity framework.

Goldman Sachs Profile: Lobbying • OpenSecrets

The BTI 2024 report highlights that Goldman Sachs, along with other major banks, expanded its financial and investment operations in Saudi Arabia. This deepening economic collaboration provides financial legitimacy and support to a regime known for its authoritarian practices and political repression. By channeling investments into a state that suppresses dissent, Goldman Sachs indirectly contributes to reinforcing an oppressive political structure.

BTI 2024 Saudi Arabia Country Report

The statement illustrates active executive involvement in shaping public policy through coordinated internal review processes and engagement with senior management. While the firm ostensibly follows rigorous internal protocols, this executive political engagement is seen as a mechanism to align public policy with corporate interests, which, from an anti-fascist perspective, contributes to democratic distortions by emphasizing shareholder value and reinforcing entrenched economic power structures.

Goldman Sachs Statement on Policy Engagement and Political Participation

Goldman Sachs outlines policies that strictly prohibit corporate funds for political contributions and ensures compliance with federal law. However, their active engagement in political advocacy, lobbying, and shaping regulatory reforms to favor shareholder interests demonstrates a calculated use of political power. This strategic political participation, geared toward maintaining a favorable business environment for the firm, can be seen as reinforcing financial oligarchy and indirectly supporting authoritarian tendencies in policy-making.

Goldman Sachs Statement on Policy Engagement and Political Participation

Goldman Sachs has a long history of engaging in substantial lobbying efforts. According to the OpenSecrets profile, the firm channels significant resources into political lobbying, which raises concerns from an anti-fascist perspective. This activity suggests that the bank is leveraging its influence to shape legislative outcomes in ways that could favor authoritarian or corporate-centric policies, undermining democratic processes.

Goldman Sachs Profile: Lobbying • OpenSecrets

Goldman Sachs has been identified via OpenSecrets data as engaging in significant lobbying activities. Such behavior underscores the company's role in funding and influencing political processes, which can lead to policies favoring corporate interests and potentially bolstering authoritarian practices. This level of corporate political engagement is concerning as it undermines democratic accountability.

Goldman Sachs Profile: Lobbying • OpenSecrets

The significant lobbying expenditure by Goldman Sachs represents a strategic effort to influence political decision-making, aligning with activities that can empower authoritarian and corporatist agendas. Given the firm's deep involvement in policy shaping, this action detracts from democratic accountability and worker rights, warranting a negative score.

Goldman Sachs Lobbying Profile • OpenSecrets

By intervening to block a shareholder vote on revealing detailed lobbying expenditures, Goldman Sachs has taken a step that prioritizes corporate secrecy over democratic transparency. Such actions enable hidden political contributions and may facilitate undue influence over regulatory processes, aligning with practices that can bolster authoritarian dynamics.

The Fight for Corporations to Reveal Political Spending

The settlement exposes systemic gender discrimination at Goldman Sachs, reflecting deeply problematic labor practices. Such discriminatory policies undermine worker rights and contribute to broader social injustices, aligning with concerns about corporate complicity in oppressive practices.

Goldman Sachs Settles Gender Discrimination Lawsuit For Over $250 Million

The landmark settlement exposes long-standing discriminatory practices in Goldman Sachs' evaluation metrics. The systemic gender bias highlights a significant failure in upholding labor rights and human dignity, reflecting negatively on the firm's commitment to ethical labor practices.

Court Grants Final Approval to Historic $215 Million Settlement in 13-Year Old Gender Discrimination Case Against Goldman Sachs

The court-approved settlement represents a significant remedial action addressing long-standing gender discrimination at Goldman Sachs. While the company’s historical practices contributed to systemic bias against female employees, the settlement not only provides substantial compensation but also mandates reform in evaluation and promotion practices. This outcome supports labor rights and improves human rights practices, benefiting marginalized workers.

Court Grants Final Approval to Historic $215 Million Settlement in 13-Year Old Gender Discrimination Case Against Goldman Sachs

Goldman Sachs' statement also stresses the importance of ethical supply chain practices. By setting expectations for vendors to adhere to robust labor standards, workplace safety, and responsible business practices, the firm demonstrates a commitment to ethical sourcing and supply chain integrity.

Goldman Sachs Statement on Human Rights

The settlement exposes significant shortcomings in Goldman Sachs's labor practices and human rights management. The prolonged gender discrimination, reflected in biased pay and promotion procedures and substantiated by a lengthy lawsuit, highlights systemic issues. While remedial actions are being undertaken, the company’s failure to uphold equitable and unbiased treatment of its employees warrants a negative score in labor relations and human rights practices.

Goldman Sachs’s $215 million settlement shows the importance of tackling workplace bias

The settlement and planned reforms address longstanding gender bias in compensation and promotions at Goldman Sachs. By agreeing to independent audits, pay equity studies, and revised performance review systems, the bank is taking meaningful steps to improve labor relations and support marginalized women in the workforce. This corrective action against systemic discrimination aligns with anti-authoritarian and anti-fascist values by promoting fairness and accountability.

Goldman Sachs’s $215 million settlement shows the importance of tackling workplace bias

The settlement addresses long-standing allegations of gender bias and discrimination by committing to structural HR reforms, including independent audits and pay equity studies. Although the lawsuit highlights past failures, the corrective measures and increased focus on fair labor practices are a positive step against systemic bias, supporting workers' rights and creating a more equitable workplace.

Goldman Sachs’s $215 million settlement shows the importance of tackling workplace bias

The $215 million settlement for gender bias claims evidences a systemic failure in Goldman Sachs' labor practices, particularly in recognizing and addressing discriminatory pay and promotion policies. This case underlines how management discretion, informed by gender bias, resulted in undervaluing female employees, directly conflicting with ethical labor standards. Such practices contribute to an oppressive work environment and reflect negatively on the company’s commitment to human rights and equality.

Goldman Sachs to Pay $215 Million to Settle Gender Bias Claims

The settlement in response to claims of discriminatory pay and practices against women indicates a clear failure in upholding fair labor practices and human rights. This action reinforces a 'boys club' culture, further marginalizing female employees in a critical financial institution.

Goldman Sachs to pay $215m in sex discrimination case

The settlement of a major discrimination lawsuit underscores significant failures in Goldman Sachs' labor relations and human rights practices. The case revealed systematic pay disparities and biased performance reviews affecting female employees, indicating broader issues within the company's ethical framework. This event highlights how corporate practices can perpetuate inequality, with detrimental effects on workers' rights and dignity.

Goldman Sachs to pay $215 million to settle discrimination claims from female employees

The settlement highlights significant labor rights abuses at Goldman Sachs, with claims that female employees were underpaid by as much as 20% compared to their male counterparts and faced fewer opportunities for advancement. Such discriminatory practices contribute to systemic inequality and bolster oppressive corporate cultures, which can indirectly support authoritarian and fascist power structures.

Goldman Sachs to pay $215m in sex discrimination case

This settlement represents a positive step toward addressing systemic gender discrimination within the company. By resolving the lawsuit and committing to further independent analysis of its pay and performance evaluation processes, Goldman Sachs is taking remedial action that supports worker rights and advances equity for marginalized groups.

Goldman Sachs to pay $215 million to settle discrimination claims from female employees

The settlement underscores significant failures in Goldman Sachs' labor relations and human rights practices. Systemic gender bias in pay and advancement demonstrates a disregard for fair labor standards and equality, aligning with practices that can indirectly bolster authoritarian structures by entrenching hierarchical, discriminatory norms.

Goldman Sachs to Pay $215 Million to Settle Gender Bias Claims

The settlement underscores significant issues in Goldman Sachs' labor relations and human rights practices. The allegations and subsequent settlement reveal systemic gender bias in pay, promotions, and performance evaluations, indicating that the company’s policies and corporate culture have disadvantaged female employees. This outcome reflects negatively on the firm's commitment to fair labor practices and worker rights.

Goldman Sachs to Pay $215 Million to Settle Gender Bias Claims

The $215 million settlement for gender bias claims highlights systemic practices within Goldman Sachs that undervalue female employees through lower pay, fewer promotions, and biased performance evaluations. These issues reflect a significant failure in upholding fair labor practices and human rights, contributing to corporate complicity in sustaining oppressive workplace dynamics.

Goldman Sachs to Pay $215 Million to Settle Gender Bias Claims

The statement provides extensive details on supply chain risk management, including strict vendor due diligence processes and adherence to ethical sourcing guidelines. This reflects a strong commitment to ensuring that the supply chain is free from forced labor and modern slavery, illustrating a clear ethical responsibility.

Statement on Modern Slavery and Human Trafficking

The Statement provides an in‐depth overview of Goldman Sachs' vendor management program and supply chain due diligence processes to mitigate the risk of forced labor and modern slavery. This clear commitment to supply chain ethics supports anti-authoritarian and human rights aligned business practices.

Statement on Modern Slavery and Human Trafficking

The document provides detailed measures related to supply chain ethics, including a strict vendor code of conduct, enhanced due diligence on suppliers, and ongoing risk assessments for modern slavery and human trafficking. These practices effectively reduce the risk of complicity in human rights abuses within its supplier networks.

Statement on Modern Slavery and Human Trafficking

The official human rights statement by Goldman Sachs demonstrates a proactive approach to upholding labor rights and ethical practices across its operations. By instituting employee training and setting rigorous standards for vendor relations, the firm positions itself as a corporate actor supportive of social justice and human rights—key values in the fight against fascism and authoritarianism.

Goldman Sachs Statement on Human Rights

The published pay equity statement demonstrates that Goldman Sachs is proactively addressing pay disparities by conducting thorough analyses with the help of external experts. Their focus on ensuring fair compensation irrespective of gender or race is a progressive business practice that aligns with anti-fascist values, supporting worker rights and promoting transparent labor relations.

Pay Equity Statement - Goldman Sachs

The reported lobbying spending of $4,690,000 in 2023 underscores Goldman Sachs' significant financial influence on policy-making. From an anti-authoritarian perspective, such expenditures can be concerning when used to shape political outcomes and protect elite interests, potentially undermining democratic accountability.

Goldman Sachs Lobbying Reports • OpenSecrets

The lawsuit details a disturbing pattern of sexual harassment, assault, and gender bias within Goldman Sachs, evidencing a hostile work environment that compromises the rights and safety of its employees. Such practices not only undermine ethical labor relations but also contribute to a broader culture of impunity and silence regarding abusive behavior, which is inherently complicit in systems of oppression.

Goldman is accused of tolerating managers who engage in sexual harassment...

By continuing to profit from the trade of Russian debt despite its public stance of winding down operations in Russia, Goldman Sachs is engaging in ethically questionable business practices. This behavior not only capitalizes on a conflict but also indirectly supports financial flows that may bolster authoritarian structures.

How Goldman Sachs profits from war in Ukraine, loophole in sanctions

The FEC report highlights Goldman Sachs' PAC activities, which reflect active political contributions and lobbying efforts. From a left-leaning perspective, such actions contribute to corporate influence in politics, potentially supporting policies that enhance authoritarian tendencies by prioritizing corporate power over democratic participation.

THE GOLDMAN SACHS GROUP, INC. POLITICAL ACTION COMMITTEE - committee overview

Goldman Sachs has been indirectly linked to authoritarian political engagement through its employment of individuals like Steve Bannon, whose subsequent career in right-wing politics has been associated with the undermining of democratic norms. Although the bank itself may not explicitly engage in overt authoritarian practices, its role in cultivating a network that has fed into anti-democratic leadership raises serious concerns about its complicity in supporting authoritarian agendas.

Democracy Undone: The Authoritarian's Playbook - Overview

The deal provides essential funding to Maduro’s authoritarian government by purchasing debt at a steep discount, effectively propping up an oppressive regime. The transaction, which evaded standard oversight, facilitates continued human rights violations and suppresses democratic forces in Venezuela.

Is Goldman Sachs Supporting Hunger And Oppression In Venezuela?

The policy directly targets the risk of pay-to-play scandals by prohibiting top partners from donating to political campaigns linked to authoritarian figures, such as the Trump-Pence ticket. This preemptive measure limits the firm’s indirect support of political actors aligned with authoritarian agendas, aligning with anti-fascist and progressive principles. However, the restriction applies only to a subset of employees, meaning broader systemic issues in political engagement remain unaddressed.

Goldman Sachs restricts employee political contributions

The decision to ban employee donations to Trump suggests that Goldman Sachs is actively limiting its involvement in political contributions that could support or enable authoritarian practices. This internal rule promotes ethical political behavior by preventing any appearance of pay-to-play influences that might be leveraged against democratic principles.

Goldman Sachs Bans Employees from Donating to Trump

The Financial Times article highlights that Goldman Sachs, once a dominant player in political financing, is now being outpaced by Google. This persistent involvement in political donations is problematic from an anti-fascist perspective because such financial contributions can enable corporate influence over policy, potentially supporting authoritarian agendas. Although its relative impact may be declining, its history of political contributions remains a concern.

Google overtakes Goldman Sachs in US political donations - Financial Times

The article exposes Goldman Sachs' extensive political contributions, which from a left-leaning perspective can be seen as using financial clout to influence policy in a way that may empower authoritarian tendencies. Such political funding undermines transparency and democratic accountability, making the firm complicit in practices that could bolster oppressive power structures.

Goldman Sachs: Millions in Political Contributions Revealed

Executives and experienced lobbyists, including former government officials, at Goldman Sachs have engaged directly with lawmakers to shape financial regulation. This close political engagement favors corporate interests over systemic reform, contributing to an erosion of democratic oversight.

Goldman Sachs Publicly Supports Financial Reform, But Fights It With Lobbyists

Goldman Sachs maintains a formidable lobbying operation, spending millions and employing former government officials to influence policy in ways that protect its financial interests. This strategy, while cloaked in a public display of support for reform, ultimately undermines true regulatory changes and democratic accountability, contributing to authoritarian corporate practices.

Goldman Sachs publicly backs financial reform — while dispatching army of lobbyists

Multiple former Goldman Sachs executives have occupied high-ranking political positions, directly influencing public policy decisions. This revolving door between the firm and government institutions not only consolidates political power but also risks promoting policies that may favor authoritarian practices over democratic accountability.

Does Goldman Sachs Have Too Much Political Influence?