Exelon reports nearly $2.9B spent on diverse suppliers in 2022
Exelon spent more than $2.88 billion with diverse suppliers in 2022, representing 39 percent of total enterprise-wide spend.
This builds on its track record of spending with diverse suppliers. Over past five years, its spending with businesses owned by women, people of color, veterans, and LGBT persons totaled more than $13 billion.
“As the energy landscape evolves, one of the most important jobs I have as CEO is leading that transformation in a way that is just and equitable,” Calvin Butler, Exelon president and CEO, said. “The promise of a clean energy future must be fulfilled for all our communities, especially those that disproportionately suffer the effects of climate change more than others – no one can be left in the dark.”
Exelon, which serves diverse metropolitan areas like Baltimore, Chicago, Washington, D.C., and Philadelphia, has developed several programs to ensure that its supplier base, along with its workforce and culture, reflect the diversity of its customers and communities.
Among them, Exelon has an HBCU Scholars program, which provides students who attend historically Black colleges and universities (HBCU) with four years of scholarship assistance, opportunities for summer internships, and early career readiness support to help prepare them for careers at Exelon and within the energy industry. The $2.4 million scholarship provides 24 students with $100,000.
Also, Baltimore Gas and Electric (BGE) has made $3 million in investments to three HBCUs — Bowie State, Coppin State, and Morgan State Universities. In addition, Atlantic City Electric, Delmarva Power, and Pepco provided $1.2 million to four HBCUs and five local community colleges in D.C., Delaware, Maryland, and New Jersey.
Further, Exelon has a $36 million Racial Equity Capital Fund (RECF) helps minority businesses obtain capital to fuel growth and spur job opportunities in communities often overlooked by investors and traditional funding sources.
Exelon also offers STEM Academy, a free, weeklong program introducing teen girls between the ages of 15 and 18 from diverse and underserved communities to careers in STEM. In the last five years, the Academy has inspired more than 820 girls with scholarships to the STEM Academy Scholarship with
The company also offers Empowerment Academies, which are a diverse supplier development program designed to educate and coach diversity-certified businesses on how to compete for contract opportunities. It also provides direct access to Exelon leaders who are committed to growing diverse partnerships.
In addition, Exelon has more than 80 unique workforce development programs across its six energy companies, designed to bring economic equity, empowerment, and employment opportunities to under-resourced communities. Since 2019, the company has helped more than 1,400 people obtain family-supporting jobs, either internally or externally, with company contractors.
