Supplier diversity in the US
bp is multiplying the ecosystem of DE&I partners through supplier diversity and aims to increase our annual diverse spend to $650 million by 2025.*
bp’s commitment to supplier diversity unlocks the value and power of a diverse, equitable and inclusive supply chain, boosting economic growth for underrepresented groups in the communities where we live and work
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Clear ambition
Diversifying our supply chain supports local businesses to do their part in the energy transition and helps bridge the economic wealth gap in underserved communities. As a part of the US Diversity, Equity and Inclusion Framework for Action, a clear ambition was set to increase diverse supplier spend, across the company. This links directly to bp’s wider ambition on responsible business and improving people’s lives in the communities where we work. Supplier diversity helps us build a stronger, better, more competitive company, aligning with America’s changing demographics.
Since 2018, we have partnered with more than 1,400 diverse and small businesses in the US, including minority, woman, LGBTQ+ and veteran-owned enterprises, while building a network of certified diverse suppliers. In 2022, we expanded our pool of available certified diverse suppliers to more than 10,000. And we surpassed our 2020 Framework for Action commitment to double our spend with certified diverse suppliers in the US by the end of 2023.
Positive economic impact
Over the last few decades, bp has seen the positive economic impact across the US as it is a supplier diversity leader in not only the energy industry but across corporate America. As such, we have been recognized by our supplier diversity partners in several ways:
- Women’s Business Enterprise National Council America’s Top Corporations for Women’s Business Hall of Fame (2018 - 2023)
- Best of the Decade from Minority Business News USA (2023)
- "Top Corporation for Minority Business Growth" from the Houston Minority Supplier Development Council (2023)
- Chicago Minority Supplier Development Council Honorary Chair (2022)
- Women's Enterprise USA Supplier Diversity Icons & Legends (2022)
- Disability: IN Disability Equality Index 90% rating
- National Business Inclusion Consortium Best of the Best Corporation for Inclusion nominee (2022)
- Chartered Institute of Procurement & Supply (CIPS) Outstanding Diversity and Inclusion Practices in Procurement Teams and Best Collaborative Teamwork Project nominee (2021)
- Women’s Business Enterprise Alliance Corporation of the Year (Texas 2020)
- US Hispanic Chamber of Commerce Corporation of the Year (2020)
Investing in America
bp is investing in America’s energy system as we transition from an international oil company to an integrated energy company. With $150 billion invested in the US since 2005, we employ more than 30,000 people and support more than 300,000 jobs. We have a bigger footprint here than anywhere else in the world, and we’re proud to be a trusted partner for secure, affordable and reliable energy. And, supplier diversity helps create even more social and economic value. It strengthens our reputation and drives performance while underpinning our strategy.
Since 2020, bp has invested $3.1b with small and diverse owned businesses in US-related spend. By 2025, the company is working toward achieving $650 million in annual spend with certified diverse businesses.
Contact
Email: supplierdiversity@bp.com
Procurement and DE&I teams partner to pave the way for diverse supplier inclusion
Recognized diverse supplier accreditations
We positively partner to contribute to social mobility and the ecosystem of DE&I by buying inclusively and aiming to spend $650 million with certified diverse suppliers annually by 2025. We multiply the ecosystem of DE&I partners by recognizing the certification of councils, chambers of commerce and their regional affiliates – all on mission to increase diverse supplier inclusion across corporate America.
