Exelon Energy Transformation Centered on Diversity, Equity and Inclusion
10 March 2023 - 12:00AM
Business Wire
Exelon spent more than $2.8 billion in 2022
with businesses owned by people of color, women and veterans as
company focuses on growth of renewables, increased electrification,
decarbonization and grid resiliency improvements
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.
- The scholarships, valued at nearly $2.4 million, provide
24 students with $100,000 – or $25,000 per year for four
years – and are administered by the United Negro College Fund.
Students who live in the company’s service areas are eligible to
apply.
- Baltimore Gas and Electric (BGE) also recently announced its
recommitment to supporting HBCUs. The company’s investment
represents an additional $3 million, divided into $1 million
each, to Bowie State, Coppin State and Morgan State
Universities over the next four years. The funding will continue to
support scholarships, persistence grants and research, all while
student scholars continue benefitting from mentoring, career and
professional development opportunities and summer internships at
BGE.
- In 2022, 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 supporting
local scholarships, teacher training and the development of
curriculum geared toward educating the next generation of the
energy workforce. An additional $7.6 million has been
committed to support HBCUs in these regions over the next three
years.
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 overlooked by investors and
traditional funding sources.
- Thus far, the fund has invested $1 million in Sweeten, a
Black woman-owned software company known for bringing trust,
transparency and data-driven decision-making to the construction
industry and $250,000 in Aging & Diverse Home Healthcare
Services, a Black women-owned home healthcare provider in
Philadelphia.
STEM Academy
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.
- This summer, the company will hold the sixth annual
academy in Chicago, Philadelphia and Baltimore/Washington, D.C. In
the last five years, the Academy has inspired more than 820
girls.
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.
- Seven girls received the scholarship in 2021, with
nine more awarded the funds in 2022. The total value of the
scholarships for each of the cohorts is approximately $1
million.
- 14 scholars are confirmed for internships at Exelon and
its local energy companies for summer 2023.
Supplier Diversity
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.
- The Exelon Foundations Program is a capacity-building
program designed to grow minority businesses in Exelon’s footprint
through partnerships with affiliates of the National Minority
Supplier Development Council, including the Eastern Minority
Supplier Development Council and the Capital Region Minority
Supplier Development Program.
- The Empowerment Academies is a diverse supplier
development program designed to educate and coach
diversity-certified businesses on how to compete for contract
opportunities, as well as provide direct access to Exelon leaders
who are committed to growing diverse partnerships. Thirty-seven
local businesses are participating in this year’s Empowerment
Academies program.
Workforce Development
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.
- Since 2019, the company has helped more than 1,400
people obtain family-supporting jobs, either internally or
externally with company contractors.
- In Illinois, ComEd launched the CONSTRUCT Infrastructure
Academy in 2013. Since the program’s creation, more than 700
students have graduated from the program.
- Pepco created its own training program with the D.C.
Infrastructure Academy (DCIA). Since 2018, more than 196
District residents have graduated and been offered jobs. A
similar program was just launched in New Jersey where Atlantic City
Electric and the City of Atlantic City celebrated the graduation of
the AC Infrastructure Program’s first cohort of 26 City
residents in February.
- Through BGE’s Corporate Community Impact department, more than
160 participants have graduated from the BGE Workforce
Collaborative program since 2019, with 80% receiving jobs
earning on average $37K annually.
About Exelon
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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Liz Keating Corporate Communications
elizabeth.keating@exeloncorp.com 312-394-7417 Exelon Media
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