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.
DEI and its creators/pushers are a subtle effort to erase and rebuild this prior work, so that its original creators no longer take credit. Take the movement underway to redefine Math, since its origins are "white". Oh the horror!
The fact that DEI specifically targets "whiteness" is patently racist. Period.
Participating in that is assimilation.
Companies do not desire or seek philosophical diversity, they only want Superficial biologically based "diversity" to prove they have the "correct" philosophy about the world.