Our Partners

Supplier Diversity

Being a good partner with our communities also means forming partnerships with businesses in those communities.

We’re working hard to expand the number of small, local, and diverse companies we look to for the goods and services we rely on.

Why Supplier Diversity Matters

bFive40 is one of the many diverse, minority, small, or local companies with which we do businesses.

Real commitment to DE&I involves making sure we conduct our core business in a way that is inclusive. Our supply chain should involve businesses from a broad mix of companies, including a healthy percentage owned and operated by diverse members of our communities. Supplier diversity matters to our customers, our communities, and our stakeholders. We know it can be transformational for individuals, families, and communities — and that the benefits can last for generations.

As with other aspects of DE&I, doing the right thing on supplier diversity is also good for business. At the most basic level, it shows our customers and communities that we are committed to their well-being. For procurement purposes, a wider pool of suppliers makes the bidding process more competitive; new bidders often bring greater innovation and ingenuity to the bidding process than entrenched incumbents. That’s not just theory: Evidence shows that companies with a strong commitment to supplier diversity earn higher returns on procurement investment.

Relying on local suppliers makes local economies stronger. The ripple effects can include more jobs, higher investment in infrastructure, more resources for basic services, and more investment in education and worker training — all of which benefit Dominion Energy as well.

Taking Action

To maximize these benefits, we review and revise our policies and practices to increase supplier diversity.

  • In 2018, achieving a diversity spending target was incorporated into the annual incentive plan for all leaders.
  • In 2019, we adjusted our procurement policies to require two or more diverse suppliers in competitively bid sourcing events. When two or more diverse businesses are not included, the reason must be documented. We also updated requirements for our prime, non-diverse suppliers to make every attempt to award a minimum of 20% of their subcontracts to diverse suppliers.

“Our company's core value of ethics calls us to do the right thing. Part of doing the right thing involves supporting the communities we serve. We are supported by diverse populations, and we believe we should reciprocate in kind. One way we do that is by ensuring small, local, and diverse businesses have the opportunity to work with us.”

Bob Blue Chair, President, and Chief Executive Officer

Partner Categories

Dominion Energy recognizes nine supplier diversity classifications:

  • 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
  • LGBT-owned businesses

Outreach

We’re eager to join forces with other organizations that promote diverse businesses, and we reach out to them when we’re looking for suppliers to include in our bidding process. To date, we have formed partnerships with more than 20 advocacy organizations, from Hampton Roads Business Outreach — Virginia’s first LGBT chamber of commerce — to the Salt Lake City Pacific Island Business Alliance to the Women’s Business Enterprise Council of the Ohio River Valley. We seek to give back to such organizations by serving on boards or steering committees, including those of the Metropolitan Business League in Richmond, Virginia, the Carolinas-Virginia Minority Supplier Development Council, and the Women’s Business Enterprise Council – Greater D.C., Maryland, and Virginia, and New York.

We also organize our own supplier diversity events. In 2018, we held a matchmaking event for natural gas infrastructure suppliers in Clarksburg, West Virginia, where company representatives met one-on-one with two dozen diverse suppliers. In 2019, we held “Meet the Primes,” where 20 primary, non-diverse suppliers gathered with 64 diverse suppliers. In 2020, we held “Convergence 2020,” a virtual supplier-diversity conference attended by 23 primary, non-diverse suppliers, 70 Dominion Energy employees, and 300 diverse suppliers.

Highlight

Utah Supplier Diversity Event

In June 2018, we invited more than 70 diverse suppliers from across Utah to Salt Lake City to meet with company supply-chain and business-unit representatives to discuss upcoming opportunities. We also invited diverse advocacy organizations headquartered in Salt Lake – a measure that led to Dominion Energy joining five diverse Chambers of Commerce (the Utah Black Chamber, the Utah Hispanic Chamber, the Utah Asian Chamber, the Utah LGBTQ+ Chamber, and the Salt Lake City Pacific Business Alliance).

Supplier Diversity Spending

$Million

Supplier Diversity Roadmap

Highlight

Success Stories

Neeta Singh operates Tiger Controls Inc., one our many woman- or minority-owned suppliers.

We’re proud and grateful to work with a rich variety of diverse suppliers. Over the years we have developed strong relationships with many of them. Here are examples of our partners.

  • Tiger Controls. In 2002, we began buying electrical components from Tiger Controls, a minority- and woman-owned company. Today, our companies do more than $5 million worth of business with each other annually – and Tiger Controls services our entire generation fleet.
  • bFive40. Nearly two-thirds of the funds we have spent on personal protective equipment related to the COVID-19 pandemic has gone to small, local, and diverse businesses. One of those is bFive40, a small, woman-owned printing and fabrication company that supplied our company with 60,000 Dominion Energy-branded face masks.

Conclusion

Efforts to advance DE&I are accelerating across Dominion Energy, building on the progress made to date. Our company is on a journey. While we have made progress in recent years, we know the journey continues.

We are embedding a culture of DE&I throughout the company, measuring our progress, and setting goals to help us advance. We are expanding our efforts to recruit, develop, retain, and promote diverse talent. We want Dominion Energy to be a place where all people feel welcome and treated with dignity, fairness, and respect.

As part of the broader social fabric, Dominion Energy recognizes its obligation to help address past wrongs, foster social justice, and promote equity. In 2020 we made substantial contributions and commitments to do so. We are increasing engagement with diverse suppliers, eradicating the potential for disparate impact, and developing programs that increase equity in the areas we serve.

Our understanding of DE&I will continue to grow. As it does, we will expand and refine our policies and programs — making us a better company for our customers, communities, investors, and other stakeholders.