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October 24, 2023

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Duke Energy’s supplier diversity program was established in 1983

2023 Billion Dollar Roundtable Best Practices Summit: Inductees

DUKE ENERGY CORP.

Q: When and why did your company start its supplier diversity program?

A: Duke Energy’s supplier diversity program was established in 1983. We recognized early on that having an inclusive approach to how we procure goods and services is a tangible way for us to live our purpose. For nearly 40 years, we’ve been intentional about doing business with qualified diverse suppliers. This focus has resulted in a supply chain ecosystem that is resilient and innovative. In 2022, our supplier diversity efforts supported over 5,000 jobs and generated over $495 million in economic impact to our communities.

Q: What is the significance of your company being inducted into the Billion Dollar Roundtable Inc. (BDR)?

A: Being inducted into the Billion Dollar Roundtable is an important milestone in Duke Energy’s history. It acknowledges our longstanding commitment to diversifying our supplier pipeline and positively impacting our communities through jobs and supporting local economies. We’re executing one of the largest clean energy transitions in the country that will require a strong and resilient supply chain. Being part of the BDR means working alongside other major corporations that understand the value of supplier diversity. We can learn and share best practices and widen the supplier pool to promote competition in the supply chain — helping lower costs and broaden access to quality products and services.

Q: What advice would you give companies aspiring to earn BDR membership? 

A: Diverse businesses are often also small businesses, and they sometimes lack the scale or resources to bid and compete for larger scope and budgeted projects at big corporations. That’s why we’ve launched internal programs like Supplier Diversity University, which educates prospective diverse suppliers — who have the capabilities, but maybe not the scale — on how to do business with a large company like Duke Energy. Not only does this help them better compete with others and grow their business, but it helps us continually expand our pool of and spend with qualified diverse suppliers.

Q: What is your company’s spend goal with diverse suppliers over the next five years? 

A: As we advance our strategy, we aspire to increase our Tier I spend over the next five years. Achieving this will require us to increase both our total enterprise spend annually as well as our diverse supplier spend growth rate.

To learn more about Duke Energy’s supplier diversity program, visit duke-energy.com/partner-with-us/suppliers/supplier-diversity.