In a statement to Variety, Smith and Kalpana Kotagal, one of the lawyers working on the inclusion riders, said of the Pearl Street Films announcement, "It's great to see Matt Damon, Ben Affleck and the Pearl Street Films team using their influence to create opportunities for people from underrepresented groups to enter the industry".
It is a "contract clause for actors that would require filmmakers to meet diversity benchmarks in their cast and crew", the New York Times reported.
It comes after Three Billboards star Frances McDormand issued a rallying cry to Hollywood as she collected her Oscar for Best Actress, telling the audience: "I have two words to leave with you tonight, ladies and gentlemen: inclusion rider".
Filmmaker duo/best buds forever Ben Affleck and Matt Damon today announced they'd be adopting inclusion riders for all their future production deals, off the back of Frances McDormand's Oscar speech bringing the concept into the mainstream.
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Michael B. Jordan attends the European Premiere of "Black Panther" at Eventim Apollo on February 8, 2018 in London.
What do those "two words" mean?
The Annenberg Inclusion Initiative, who created the movement, said that Cox DiGiovanni had been a "champion, advocate and co-creator" of the inclusion rider since February 2016.
"Thank you for always supporting broader representation in the industry", Cox DiGiovanni tweeted. The actress left the room abuzz, while viewers at home frantically began Googling the phrase-which refers to a contractual stipulation that stars can include in their contracts, assuring that their film sets are inclusive both on and off screen.