Energy News Beat Publishers Note: Energy companies, and more specifically oil & gas, have not been as quick to adopt diversity and inclusion. Environment, Social & Governance (ESG) is rightfully here to stay. Consumers and investors are requiring more open communications on ESG and performance.
The American Association of Blacks in Energy (AABE) has excellent information on diversity in the Energy market. “Companies must work to create an inclusive environment where all employees feel valued. It is time to get our houses in order. We must focus on understanding our current corporate cultures; identifying where there are biases and remove them. We must create opportunities for honest conversations so that we can have inclusive organizations.”
The message from the AABE leadership is stated on an article: A Message from the American Association of Blacks in Energy
ESG Investing:
Equality for women “remains the great unfinished business of the 21st century”.
The quote by former United State Secretary of State Hillary Clinton did really press the nerve in the 2014 United Nations event. The reality has, however, been slow and swampy.
Gender is a crucial aspect that is intertwined with Environment, Social and Governance (ESG).
As per the International Labour Organization Database, the world average percentage of total women employed was around 39 percent in 2020. Strikingly, the average women participation in India is barely close to 19 percent.
A quick glance at the sample of Indian companies shows women employment in proportion to the total employed across different sectors continues to be well below the global average.
Historically, the financial sector absorbs more female workers, given the fixed nature of the job and security of employment. In the case of India, the share of women employed is yet far off from the global average.
The technology sector has certainly emerged as a female-friendly sector and manages to employ up to 30 percent plus females. The gender pay parity is something that needs further investigation.
Traditionally, sectors like materials, industrials, manufacturing, and mining were male-dominated as the jobs demanded extensive physical tenacity and commitment of long working hours. The social aspect was another hurdle in increasing the participation of women in these sectors.
In the current scenario, the share of women in sectors like consumer staples, consumer discretionary and materials continues to disappoint. These sectors have been revolutionized by automation and technology that can enable the management to increase women’s representation.
For the entire article please look at: article from Money Control.
