JPMORGAN CHASE & CO .
The
Gold Standard in Diverse Spend
Hispanic and Latino-owned companies . While the goal is to reach these spend increases over the next three years , the larger purpose is to have other corporations develop sustainable diversity programmes that will generate new revenue for diverse businesses for decades into the future .
Meeting a mission to support diversity , equity and inclusion will involve forging new paths and encouraging a shift in the overall culture of the business community . But , Smith and his team understand that one company can ’ t drive impact alone . It takes a commitment from large and small companies across all industries .
Today , if a supplier wants to do business with JPMorgan Chase , it must demonstrate that it has established a diversity , equity and inclusion infrastructure and culture . According to Smith , that means engaging in active conversations with existing suppliers and building diversity , equity and inclusion into the firm ’ s minimum control requirements . For example , JPMorgan Chase now asks its suppliers annual diversity , equity , and inclusion questions to ensure that their diversity programmes align with the firm ’ s values .
Diversity is now a finding on the firm ’ s overall annual assessment that may require remediation and conversation . “ Our suppliers need to embrace the need for diversity ”, Smith says . “ We conduct
30 February 2022