The decision came during a Policy and Resources committee meeting on Monday, with councillors agreeing to draft a version of the policy which will be read out and decided on in a future meeting.
"I think we should be proactive and make sure we have one before there’s a problem and we wish we had one,” said Cllr Adam Cunard (ind).
"We’re bound to have something happen at some point where we need a policy, and we don’t want the council to be on the backfoot.”
Other committee members agreed, with Cllr Wayne Smith (ind) adding: “It would make sense to have one.”
Alongside the equality, diversity and inclusion policy, Councillor Cunard also suggested implementing a modern slavery policy.
An equality policy for those employed by the town council already exists, but members agreed to revise and update it moving forward.