Google Targets $2.5 Billion in Spend with Diverse-Owned Suppliers in 2022
Tech giant Google announced today new supplier diversity initiatives, including goals to significantly increase its procurement spend with diverse-owned suppliers, and to expand its program around the world.
In a blog post announcing the new goals, Google’s Chief Procurement Officer Jennifer Moceri said:
“We want to help build an inclusive economy that works for everyone. This extends within our company, and accounts for the economic impact that we can have when we buy goods and services. That’s why we’re providing access, development and investment in diverse-owned companies through our supplier diversity program.”
Google launched its initial diverse spend target in 2020, committing to spend a minimum of $1 billion with diverse-owned suppliers in the U.S. every year starting in 2021. Moceri said that in 2021, the company significantly exceeded this goal, reaching nearly $1.5 billion.
For its new 2022 goal, Google is targeting $2.5 billion, and is expanding its program beyond the U.S. to include suppliers from historically underrepresented groups around the world.
Moceri also highlighted other supplier diversity initiatives being pursued by the company, including investing in mentorship and training programs to help diverse leaders at small and medium-sized companies grow their businesses, providing accelerated payment programs to help suppliers access cash and capital, and encouraging existing suppliers to partner with diverse-owned businesses.
“We are proud of exceeding our first spend goal and the programs we have created to elevate diverse suppliers. Yet we know we have more to do and look forward to continuing that work and increasing our impact through our mentoring, development and partnership programs, especially as we expand our program globally. We’re excited about the opportunities and innovation that we can bring to this space as we continue this journey alongside our suppliers.”