Baker Hughes Foundation Supports Supplier Diversity

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KnowESG_Baker Hughes Foundation Supports Supplier Diversity
Image courtesy of Baker Hughes

The Baker Hughes Foundation unveiled its philanthropic efforts with two noteworthy grants that prioritise global supplier diversity.

The foundation's commitment includes a generous $75,000 grant directed towards the Houston Minority Supplier Development Council (HMSDC) and a substantial $100,000 grant designated for WEConnect International.

These esteemed organisations align seamlessly with Baker Hughes' core vision, which revolves around fostering inclusive and sustainable economic growth while diligently working towards reducing inequality, both within and among nations.

HMSDC plays a pivotal role by providing specialised training in sustainable business practices and forging connections between minority entrepreneurs and forward-thinking corporations that prioritise diversity and inclusion. Meanwhile, WEConnect International empowers women-owned businesses to thrive in the global marketplace by certifying their ownership status and offering them invaluable access to a network of corporate buyers.

At its core, Baker Hughes is resolutely committed to achieving industry leadership through a diverse and inclusive supply chain. This approach not only delivers enhanced value to its customers but also mirrors the rich tapestry of the communities in which it operates.

The foundation's substantial grants will catalyse HMSDC, enabling the creation of a tailored training programme. This programme aims to equip minority entrepreneurs with the essential knowledge and skills necessary to embrace sustainable business practices.

Recognising that women often find themselves at the forefront of gender inequality, WEConnect International's grant will bolster nationwide marketing campaigns and knowledge-sharing systems. This strategic effort is designed to boost revenue and expand the roster of registered women-owned businesses within the WEConnect network.

These commendable donations underscore Baker Hughes' unwavering commitment to advancing the Sustainable Development Goals (SDGs) set forth by the United Nations. Specifically, SDG 8 advocates for sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. Additionally, SDG 10, which seeks to reduce inequality within and among countries, is firmly supported by Baker Hughes' actions.

Lynn Buckley, Supplier Diversity and Business Development Sourcing leader at Baker Hughes articulated the company's perspective, stating, "At Baker Hughes, supplier diversity is integral to our success, and we must support organisations that fuel building a more inclusive supply base and take the steps necessary to ensure business practices mirror our diverse landscape."

Elizabeth A. Vazquez, CEO and co-founder of WEConnect International, expressed her enthusiasm for the grant, saying, "We are thrilled to receive this generous grant from the Baker Hughes Foundation, which will enable us to expand our network of women-owned businesses and promote gender-inclusive procurement practices globally. We share Baker Hughes' vision of advancing sustainable economic growth and reducing inequality, and we look forward to working together to create more opportunities for women entrepreneurs in the energy sector and beyond."

Ingrid M. Robinson, president of HMSDC, voiced her excitement, stating, "The HMSDC is excited and honoured to be a recipient of a grant from the Baker Hughes Foundation. We believe to close the equity gap in communities of colour, we must ensure that diverse businesses understand and meet the business sustainability requirements of today’s corporate and government supply chains. This grant allows us to share sustainability best practices with minority-owned businesses and help them develop and integrate sustainability-focused policies and processes that will allow them to grow their businesses."

For additional insights into Baker Hughes' community-focused initiatives, please visit their Corporate Responsibility website.

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Source: Baker Hughes

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