PG&E has been recognized as the No. 2 company nationwide for supplier diversity by HispanicBusiness Inc., a leading online business publication for the Hispanic market. PG&E’s total spending with Hispanic-owned business enterprises in 2012 reached an all-time high of $461 million, an increase of $51 million from 2011.
Only Comerica Bank ranked higher than PG&E, the top-rated utility on the publication’s list of 25 companies.
“Receiving this recognition for the eighth time in a row, PG&E continues to show exemplary attention to supplier diversity,” said Mike Caplinger, research supervisor at HispanicBusiness Inc. “By continuing to spend significant money with diverse suppliers during these challenging economic times, PG&E truly lives up to its commitment to strengthen local and diverse communities.”
The online magazine screened Fortune 1000 companies for their commitments to supplier diversity, including management involvement, outreach efforts and procurement from minority suppliers. According to HispanicBusiness Inc., PG&E and the other 24 companies on its list went well beyond traditional supplier diversity initiatives and implemented successful strategies to increase business with minority- and Hispanic-owned suppliers.
Since 1981, PG&E’s supplier diversity program has provided thousands of diverse businesses with opportunities to deliver quality products and services to PG&E. The utility recently announced that it achieved an all-time high of over $2 billion in spending with diverse suppliers in 2012, accounting for 38.8 percent of its total procurement budget.
“Working with PG&E has given us a great opportunity to grow,” said Max Reyhani, principal at Terra Pacific Group, a Hispanic-owned, full service environmental engineering firm offering a broad range of expert environmental services to the private and public sectors. “By contracting with PG&E since 2010, we have been able to hire more than 20 employees. This clearly exemplifies PG&E’s ongoing effort to help foster the growth of the local economy by keeping more business and jobs in California.”