Exelon Energy Transformation Centered on Diversity, Equity and Inclusion
As just one part of its commitment to ensure the clean energy future is accessible to all communities, Exelon (Nasdaq: EXC) today announced that it spent more than $2.88 billion with diverse suppliers in 2022, representing 39 percent of total enterprise-wide spend. Over the past five years, Exelon's spending with businesses owned by women, people of color, veterans and LGBT persons totaled more than $13 billion.
Exelon's diverse spend announcement is the latest in a host of commitments in recent years to ensure the economic and environmental benefits of a clean energy future are accessible for all communities. From investments in the reliability and resilience of the grid to programs that provide family-sustaining jobs and opportunities for the next generation of leaders, Exelon supports those who traditionally have less access to resources and opportunities.
"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," said Calvin Butler, Exelon president and CEO. "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 serves some of the nation's largest and most ethnically diverse metropolitan areas - including Baltimore, Chicago, Washington, D.C., and Philadelphia. The company has developed several programs and initiatives to ensure that its supplier base, as well as its workforce and culture, reflect the diversity of its customers and communities.
HBCU Scholars program
Exelon Foundation HBCU Corporate Scholars Program 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 rewarding careers at Exelon and within the energy industry.
Racial Equity Capital Fund
Exelon's $36 million Racial Equity Capital Fund (RECF) helps minority businesses obtain capital to fuel growth and spur job opportunities in communities often overlooke by investors and traditional funding sources.
The Exelon Foundation's STEM Academy is a free, weeklong program introducing young women to careers in STEM for teen girls ages 15-18 from diverse and underserved communities.
STEM Academy Scholarship
Alumnae from the STEM Academy are eligible to apply for the STEM Academy Scholarship, which covers all costs associated with college, including tuition, room and board and all other expenses that aren't covered by other confirmed scholarships, family contributions and work-study grants.
In 2022, Exelon continued its efforts to support the growth and development of local diverse suppliers in our communities through the Exelon Foundations Program and the Exelon Empowerment Academies.
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. Exelon has received, for the second year in a row, the Center for Workforce Development's Chairman's Award, which recognizes a company for excellence in workforce development leadership.
Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation's largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities - Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO) and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon.
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