Originally published in FedEx's 2023 ESG Report
NORTHAMPTON, MA / ACCESSWIRE / June 28, 2023 / FedEx contracts with more than 100,000 direct suppliers, employing people across the world to empower our e-commerce and global operations. The FedEx Services Supplier Relationship Management (SRM) team manages and mitigates critical risks in our supply chain by implementing policies and governance practices. We work closely with our suppliers and collaborate with internal stakeholders to advance our ESG goals throughout the value chain, with a focus on diversity and sustainability. We require our suppliers to adhere to the principles outlined in our Code of Conduct and our commitment to protect human rights.
Our global supply chain creates significant economic activity as each FedEx vendor contributes its own revenues, employment, taxes, and capital investments to their national and local economies. According to an analysis prepared by Dun & Bradstreet, FedEx operations and business activity indirectly contributed to net economic output worth an estimated $22.6 billion across the global economy in FY22-a nearly 12% increase over the company's indirect contributions in FY21. Our activity supported an estimated 193,000 additional jobs beyond the FedEx worldwide employee base-20,000 more jobs than FedEx indirectly supported in FY21.
Our Sourcing Sustainability Impact Team (SIT) identifies best practices and benchmarks our performance to determine where we can improve. We are founding members of the Sustainable Purchasing Leadership Council and follow International Standardization (ISO) 20400 guidance for ESG-related metrics surrounding our sourcing practices across operating companies.
Small-, women-, and minority-owned businesses enhance the strength and resilience of our supply chain. We support the development of diverse suppliers through alliance sponsorships, industry associations, and equitable market access opportunities.
$18.8 billion
In FY22, our U.S. operations acquired $18.8 billion in goods and services from diverse and small business suppliers.
Through our Small Business Grant Contest, we provided $365,000 in grant money to contest winners in FY22, with 91% given to womenowned businesses and 50% given to minorityowned businesses. Over the last ten years the grant contest has provided over $1.7 million to 111 small businesses across the U.S. The contest is now offered in Europe, India, Asia-Pacific, and Latin America and the Caribbean.
We help women- and minority-owned businesses, including many FedEx suppliers, succeed through the Global Entrepreneurship pillar of FedEx Cares, our global community engagement program focused on in-kind shipping, volunteer work, and charitable giving. Our initiatives provide these entrepreneurs with training, mentoring, networking, capital access, and other resources to assist in growing their business while navigating challenges.
The FedEx E-Commerce Learning Lab, developed alongside Accion Opportunity Fund and womenowned social enterprise 37 Oaks, helps women and minority small business owners develop their e-commerce operations, find new customers, and build professional networks. Nearly 2,200 business owners have engaged with online e-commerce courses, and 88% of Learning Lab graduates feel confident in operating and scaling their e-commerce businesses after having completed the program. Additionally, in FY22, we worked with United Way Mumbai to provide resources and help restart more than 700 women-led micro and small businesses across Maharashtra impacted by the COVID-19 pandemic.
See the Diversity, equity, and inclusion create opportunity section for more information on our DEI initiatives.
Key links
Global Economic Impact Report
Global Entrepreneurship | FedEx Cares
Supplier diversity
Read more
View additional multimedia and more ESG storytelling from FedEx Corporation on 3blmedia.com.
Contact Info:
Spokesperson: FedEx Corporation
Website: https://www.3blmedia.com/profiles/fedex-corporation
Email: info@3blmedia.com
SOURCE: FedEx Corporation
View source version on accesswire.com:https://www.accesswire.com/764362/FedEx-Advances-ESG-Goals-Throughout-Value-Supply-Chain
