Exelon increases spending on diverse-certified suppliers
From 2016 through 2020, Exelon spent $11.2 billion with diverse-certified suppliers, according to the company’s 2020 Diverse Business Empowerment Annual Report.
In 2020 alone, the energy company spent $2.7 billion on diverse-certified suppliers, supporting 19,967 jobs, and generating an incremental $3.6 billion in revenue and $1.1 billion in wages for local businesses. It was 13 percent more than in 2019.
“One of the best ways we can support diversity is to ensure that our dollars are spent with businesses that reflect the diversity we see in the communities we serve,” said Bridget Reidy, executive vice president and COO at Exelon. “We strive to apply these same ideals in everything we do, from how we build our workforce to the investments we make in nonprofit organizations across our service territories. It’s not just the right thing to do, but it also makes us a better, stronger, and more responsive company.”
The expenditures were made across the entire business, including Exelon’s six electric and gas utilities, Exelon Generation and Constellation. Exelon operates in some of the nation’s largest and most ethnically diverse metropolitan areas, including Baltimore, Chicago, Washington, D.C., and Philadelphia. About 71 percent of the total diversity-certified supplier spend was with Tier 1 contractors, those with a direct supply contract with Exelon. Tier 1 spend increased $183 million in 2020 compared to the previous year.
