True sustainability is inclusive; we don’t want to leave any part of the community behind.
We recognize that our company’s projects provide important economic development opportunities to local businesses.
Our Supplier Diversity Program uses nine diversity classifications to help us source the products and services we need:
- Minority-owned businesses
- Woman-owned businesses
- Veteran-owned businesses
- Service-disabled-veteran-owned businesses
- HUBZone businesses (those located in Historically Underutilized Business Zones, which are designated by the U.S. Small Business Administration)
- Small businesses
- Small, disadvantaged businesses
- Disability-owned businesses
- LGBTQ-owned businesses
Experience has shown that increased supplier diversity is good for our business, and good for the communities we serve. A broader pool of suppliers encourages competition and helps us better connect with our many constituencies.
Dominion Energy Spending on Diverse Suppliers by Year
Our strategic plan to increase spending with diverse suppliers incorporates leadership focus, outreach and mentoring, category management, analytics, and effective policies. Supporting initiatives have increased engagement with diverse suppliers, leveraged data to identify new opportunities, and increased participation of diverse suppliers in our procurement process. In 2020, spending with diverse suppliers was $818.9 million, and represented 13.5% of procurement spending. These efforts have contributed to a 63% increase in diverse spending since 2015.
We remained committed to supporting diverse businesses during the COVID-19 pandemic. More than
65% of our essential health and safety supplies (e.g., surgical masks and hand sanitizer) came
from small, local, and diverse businesses. The pandemic motivated us to pivot to our first virtual
supplier diversity conference, Convergence 2020, where more than 300 diverse businesses participated.
As part of the company’s $5 million commitment to social justice and community rebuilding, Dominion Energy worked with the Metropolitan Business League’s We Care RVA Rebuild Project and contributed $400,000 to help small businesses in Richmond as they managed the effects of COVID-19 while engaging in community rebuilding.