[motivational music]
Narrator:
At JPMorgan Chase, diversity and inclusion are at the heart of everything we do. And so, we believe that those we hire for goods and services should reflect this.
Ted Archer:
Global supplier diversity is the strategy to help incorporate more diverse businesses into JPMorgan Chase’s global supply chain. A diverse supplier is defined as a business that is at least 51% owned and operated by an individual that comes from a historically disadvantaged background.
Jim Connell:
Supplier diversity is important to us and historically we’ve spent about $2.5 billion with diverse suppliers.
Ted Archer:
There’s wealth disparity in the United States and we’re laser focused on finding ways to unlock the opportunities and level the playing field.
Bill Kapfer:
Working with diverse suppliers is obviously the right thing to do, but it’s also the smart thing to do. Having diversity of thought allows us to be on the forefront of innovation.
Jim Connell:
Our ultimate goal is that suppliers from all different backgrounds and walks of life have equal access to our business opportunities.
Ted Archer:
A big part of our agenda is to ensure that any supplier that we interact with has the opportunity to access growth resources.
Jose Bandujo:
Having JPMorgan Chase as a client has definitely made a big difference in helping me grow my business.
Hallie Satz:
I think this will be the key to our future.
Jim Connell:
It’s about creating long-term relationships with these suppliers that we can grow over the years.
Ted Archer:
When we work with a supplier, it has a direct impact on themselves and their communities, including job creation and the ability to grow the wealth that, for so many individuals, is hard to access.
Jim Connell:
We want to build generational wealth in communities that are important to us.
Narrator:
We’ve been doing this a long time. But in 2020, we heard the amplified call for economic and racial parity. So we stepped up.
Byna Elliott:
We knew we had to do more to take a greater stand against inequality. That’s why JPMorgan Chase made a bold 30-billion-dollar commitment over 5 years to help close the racial wealth gap.
Ted Archer:
And we’ve recently double down our efforts by committing 750 million additional dollars to Black and Latino-owned businesses.
Jim Connell:
Supplier diversity is not a segregated program off to the side; it’s really now a part of our culture and how we do business.
Ted Archer:
We know that there’s more work to be done, but we’re excited to take on that journey to create lasting impact.
[audience cheering]
END
