Supplier diversity is an important component of BNY Mellon's Corporate Social Responsibility, Diversity and Inclusion, and Community Reinvestment approach. Through our Supplier Diversity Program, we continue to take positive steps in building and maintaining a diverse supplier base. We work closely with our diverse suppliers to expand their opportunities with the company, providing guidance and support as needed to prepare them to bid on new business with us. We collaborate with organizations focusing on economic development, growth, learning, and leadership to promote the full potential of individuals, their companies and the communities in which we live and work. This commitment to the economic growth and development of small and diverse businesses has the full support of our Executive leadership.
Through our membership of and participation with diverse supplier organizations, as well as our involvement in trade shows and support and sponsorship of other business events, we actively look to identify new sources of qualified diverse suppliers. We host workshops and expos to support diverse vendor development and inclusion into our procurement process. In addition, our online Portal allows suppliers to register with us directly and ensures we have the right information available to enable us to include appropriate diverse suppliers in our procurement processes.
Small and diverse businesses, such as those owned and operated by MWBE’s, play a critical role in helping BNY Mellon achieve its objectives as a leading financial institution. These firms supply the quality products and services that allow us to remain efficient and innovative in our businesses and the global marketplace. We value their contributions and are committed to continuing our support for diverse firms that wish to participate in our procurement process. Supplier diversity further engages employees and creates value; it helps us manage risk, save money, improve visibility, and capitalize on emerging opportunities. We see the power and potential in how supplier diversity will help us be more nimble in addressing global megatrends to grow and enhance our business. Supplier diversity enables us to leverage ambitious external partners to drive greater value creation. Our success depends on the unique skills, talents, and commitment of our suppliers and their diversity. It is not about obligation, it is about mutual opportunity and innovation.