Powering Progress: Exelon’s Commitment to Energy Transformation through Diversity, Equity, and Inclusion

(Credit: Exelon Foundation STEM Leadership Academy)

Exelon, a leading American energy company, has reaffirmed its commitment to making the clean energy future accessible to all communities. The company announced that it had spent over $2.88 billion with diverse suppliers in 2022, which accounts for 39% of total enterprise-wide spend. In the past five years, Exelon’s spending with diverse suppliers has exceeded $13 billion.

Exelon serves some of the most ethnically diverse metropolitan areas in the United States, including Baltimore, Chicago, Washington, D.C., and Philadelphia. The company has developed several initiatives and programs to ensure that its supplier base, workforce, and culture reflect the diversity of its customers and communities.

HBCU Corporate Scholars Program

• Provides four years of scholarship assistance to students who attend historically Black colleges and universities (HBCUs).
• The scholarships, valued at nearly $2.4 million, provide 24 students with $100,000 ($25,000 per year for four years), and they are administered by the United Negro College Fund.
• The program also offers summer internships and early career readiness support to help prepare students for rewarding careers at Exelon and within the energy industry.

Racial Equity Capital Fund (RECF)

• The $36 million fund helps minority businesses obtain capital to fuel growth and spur job opportunities in communities often overlooked by investors and traditional funding sources.
• The fund has already 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 woman-owned home healthcare provider in Philadelphia.

STEM Academy

• A program designed to introduce young women to careers in STEM from diverse and underserved communities.
• The free, weeklong program is for teenage girls aged 15-18 and is held in Chicago, Philadelphia, and Baltimore/Washington, D.C.
• The Academy has inspired over 820 girls in the last five years.
• 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.

Exelon has also developed supplier diversity initiatives, such as 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.

The company has more than 80 unique workforce development programs focused on recruiting and training individuals from underrepresented communities, including women, people of color, veterans, and returning citizens. Additionally, Exelon has committed to achieving net-zero emissions by 2050 and has outlined a comprehensive plan to achieve this goal. The company’s efforts to ensure diversity, equity, and inclusion are integrated into all aspects of its operations and community engagement initiatives, positioning it as a leader in the transition to a clean energy future that benefits all 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. Since 2019, the company has helped more than 1,400 people obtain family-supporting careers through its workforce development programs.