Exelon, the parent company of PECO, has been inducted into the Billion Dollar Roundtable for excellence in supplier diversity in embracing minority- and women-owned businesses.
The company is the first energy provider to join an exclusive group of U.S. corporations that have achieved $1 billion or more in annual direct spending with minority and women-owned businesses. With ties in 48 states, the District of Columbia and Canada, its revenue in 2016 was $31 billion,
“Exelon is committed to diversity and inclusion across our enterprise, from our hiring and promotion to our giving, and how we spend our resources because we know an inclusive culture results in greater innovation, market competitiveness and opportunities for growth,” CEO Chris Crane said in a news release.
“We are honored to be listed among such an elite group of companies, and share the goals of the BDR and its commitment to promoting best practices across the supply chain,” he said.
Last year, Exelon and its operating companies spent close to $2 billion with diversity-certified suppliers, ranging from asphalt manufacturers to fuel distributors to technology companies. The company said it was increasing its commitment to such suppliers by 36 percent over the previous year.
“The induction of Exelon as a member company of the Billion Dollar Roundtable represents a significant milestone in our history,” said BDR Chairman Rick Hughes. “Exelon’s market reach will offer an important and unique perspective to the BDR roster of companies. We welcome Exelon’s participation and thought leadership, particularly its view of enhancing diverse supplier opportunities in the vital energy sector. ”
Exelon was inducted in a ceremony on Aug. 16 during the BRT annual summit in Oakland, Calif.
Craig L. Adams, the CEO at PECO, said it was exciting to see Exelon become the first energy services company to join the BDR.
“At PECO, we fall right in line with the other Exelon corporations that understand it’s our obligation to not only grow our relationship with diverse suppliers in the community, which is been the traditional role for large companies and the government, but we also add in the focus that there is a lot of high net worth activity in the community that we also need to be connected with,” said Adams, who also serves as executive vice president with Exelon.
“Even for majority businesses we place specific requirements on the amount of business that they do with us, that they have to do with diverse suppliers as part of work that they do with us, ” he added.
During 2016, PECO spent $146 million with minority- and women-owned businesses, which accounts for 22 percent of its total spending. Adams said it represented a $22 million increase over the previous year.
For Curtis Connor of G&C Environmental Services, contracting with PECO has enabled his company to add employees. The African-American owned environmental, science, legal and training services firm currently has two contracts with the energy provider.
“One of the things that we were really appreciative of is they have a program where they bring in minority vendors and expose them to the PECO culture,” said Connor, vice president at the Malvern-based company.
Through PECO’s Power 25 program, businesses like G&C Environmental learn about the bidding procedures, safety initiatives and other related issues as well as get to network with other suppliers.
“We each got to meet with vendors who work in our space,” Connor said. “That was really important for us to really be able to get in front of these people and share with them our experiences and our capabilities.”
“We’re just elated that PECO has a focus on doing business with minority-owned businesses, and we wish more large employers would do programs where they focus on engaging minority businesses,” he added. “They see the value of utilizing minority-owned businesses. I think that their leadership in this area is important and I think that it is an example for other firms to follow.”