Exelon Energy Transformation Centered on Diversity, Equity and Inclusion
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.
Supplier Diversity
In 2023, approximately 64% of Exelon’s $8 billion total supplier spend sourced materials, goods and services from businesses that are local to one of our key markets.
Since 2019, our spend with diversity certified suppliers has grown 58% to total nearly $3.2 billion –representing 39% of our sourced spending.
HBCU Scholars program
In 2023, Exelon continued our partnership with the United Negro College Fund (UNCF) to support the HBCU Corporate Scholars Program. Administered by UNCF, this program awards $100,000 of need-based financial aid – $25,000 per year for four years – to students who reside in Exelon service areas and attend any HBCU. We are pleased to have funded eight additional scholarships in 2023, bringing the number of HBCU Corporate Scholars sponsored by Exelon to 30 students.
Community Impact Capital Fund
Deployed $6 million in investments to support businesses in 2023. Exelon's $36 million Community Impact Capital Fund (CICF) help businesses, and the communities in which they operate, thrive. This is an evergreen investment with the intent to re-invest the funds back that offers loan amounts between $100,000 and $3,000 to support equity and economic opportunity.
Since establishing this initiative in 2022, Exelon has invested in nine businesses, totaling $10 million dollars, based in our service areas of Baltimore, Philadelphia and greater Washington D.C. For more information, please visit the website here.
Thus far, the fund has invested nearly in nine businesses including:
- BGE ($1M)
- Sweeten Enterprise
- Sweeten Enterprise
- Pepco ($2.7M)
- Gemini Energy Solutions
- Public Sector Solutions Group (PS2G)
- CJR Development Partners, LC
- Escalate
- PECO ($250k)
- Aging & Diverse Home Healthcare Services
Workforce Development
Invested more than $18 million across more than 90 workforce development programs.
Exelon has more than 90 unique workforce development programs across its six energy companies, designed to bring economic equity, empowerment and employment opportunity to under-resourced communities. For the second year in a row, Exelon has received the Center for Workforce Development's Chairman's Award, which recognizes a company for excellence in workforce development leadership.
STEM Academy
Free, week-long experience for 10th and 11th grade girls from diverse and underserved communities has helped 1000 girls since its launch in 2018.
The Exelon Foundation's STEM Academy is a free, week-long program for teen girls ages 15-18 from underserved communities that introduces young women to careers in STEM.
Chris Crane Memorial Scholarship
Alumnae from the STEM Academy are eligible to apply for the Chris Crane Memorial 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.