EY commits to spend US$100 million with women-owned businesses around the world by 2020
New York, 25 September 2017
EY announces a commitment to direct US$100 million of global purchasing spend to women-owned businesses around the world over the next three years, as part of its Women. Fast forward campaign. The commitment was announced during the 2017 Global Citizen Festival in New York, along with WEConnect International, which connects global organizations with certified women-owned businesses.
This agreement underscores EY's ongoing commitment to progressing women in business and aims to help ensure that women-owned businesses receive fair and equal access to corporate and public sector procurement opportunities. With the Women. Fast forward program, launched in 2015, EY has reinforced its commitment to championing the advancement of women in business by introducing and supporting a number of global initiatives in education, entrepreneurship, employment, leadership and sport. It is estimated that women-owned businesses currently receive less than 1% of the global purchasing spend by large corporations and governments.*
Karin Lutz, Global Leader, EY Beacon Institute and Women. Fast forward, says:
“Our Women. Fast forward program aims to inspire big and small actions that empower women. Today's commitment is a wonderful and concrete example of what companies can do to advance gender parity. By working with WEConnect International, EY directly supports women-owned businesses to create significant impact. We look forward to welcoming even more women-owned businesses into our supplier network and hope to see more of these businesses prosper and grow inclusively.”
In EY, there is a variety of strategic sourcing and procurement approaches which actively identify, develop and initiate business with small and minority-owned businesses including women, lesbian, gay, bisexual and transgender (LGBT) people, people with disabilities and veterans.
Theresa Harrison, EY Global Diversity & Inclusiveness Procurement Leader, says:
“At EY, we are committed to growing and maintaining a diverse supplier base and building relationships with suppliers that reflect the markets and communities we serve. We seek to actively identify, develop and do business with diverse suppliers as an integral component of our strategic sourcing and procurement activity.”
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This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
About Women. Fast forward
Women. Fast forward is the EY global program to accelerate the pace of change to achieve gender parity within EY and in business at large. Through Women. Fast forward we use our collective knowledge, experiences and convening power to push ourselves further and to do our part to advance women and catalyse opportunities in the global economy. http://www.ey.com/gl/en/issues/business-environment/women-fast-forward
*WEConnect International analysis, 2017