It's also a way for banks and other powerful entities to enforce sweeping policies across international businesses that haven't been enacted in law. In other words: if governing bodies aren't working for them, they'll just do it themselves and undermine the will of companies who do not want to participate, by introducing social pressures and boycotting potential partnerships unless they comply.
Ironically, it snuffs out diversity among companies at a 40k foot level.
Specifically, principles that have ultimately led to the great civilizations we're experiencing today, built upon centuries of hard work and deep thinking in both the arts and sciences, by all races, beautifully.
DEI and its creators/pushers are a subtle effort to erase and rebuild this prior work under the lie that it had excluded everyone but Whites, so that its original creators no longer take credit.
Take the movement to redefine Math concepts by recycling existing concepts using new terms defined exclusively by non-white participants, since its origins are "too white". Oh the horror! This is false, as there are many prominent non-white mathematicians that existed prior to the woke revolution, so this movement's stated purpose is a lie, and its true purpose is to eliminate and replace white influence.
Finally, the fact that DEI specifically targets "whiteness" is patently racist. Period.