Re-reading my own statement,
if we scope down this policy to apply only to decisions which can not be done in public for whatever reason, it might make more sense to me. It will naturally cover code of conduct issues or similarly sensitive topics, which I tried to name in my previous comment.
If a decision can not be fully discussed and justified in public, there is no easy default way to gain trust, and some explicit conflict of interest considerations could help.
Upd: But then maybe we better write a dedicated “policy for making decisions which can not be done in public” instead. In which Conflict of Interest would be just one of the items.