Global Energy Leadership Is Headed for Gender Parity -- by 2090

(Bloomberg) -- There's some good news yet plenty of frustrating news for those concerned about gender diversity in the global energy industry, according to a new report.

On the positive side, women's representation on corporate boards, in C-suites and in senior management roles is accelerating, S&P Global said in a report released Monday. The share of women holding directorships or executive-level jobs has almost doubled since 2000 and stands at 15% and 13%, respectively.

But don't get too excited. Based on current trends women aren't on track to fill half of energy company director posts until 2058. And they won't get to parity in C-suite or executive-level management positions until the 2090s.

Such findings are not too surprising for the energy industry, where an old boys' club culture has long reigned. In comparison, women accounted for about one in five C-suite positions in all U.S. corporations, according to a 2018 study by McKinsey & Co, and there are now no all-male boards on the S&P 500 Index.

See also: The Last All-Male Board in the S&P 500 Finally Added a Woman

The S&P Global report highlighted geographical disparities in gender diversity. The proportion of energy industry board members and senior managers was close to 30% in New Zealand and higher than 20% in Norway, France, Thailand, Malaysia and the Philippines. Japan, South Korea and Pakistan were the laggards, with representation of less than 5%.

Based on research by S&P Global Platts Analytics and S&P Global Market Intelligence, the report analyzed 799 companies in 30 countries.

For more stories on gender diversity in the workplace:

• Silicon Valley Has Enabled ‘Brilliant Jerks': Fully Charged
• WeWork Adds Harvard's Frei to All-Male Board After Criticism
• How Corporate Britain Hides Thousands of Sex Discrimination Cases

--With assistance from Dan Murtaugh.

To contact the reporter on this story: Andrew Janes in Singapore at ajanes@bloomberg.net

To contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Jodi Schneider, Ben Sharples

©2019 Bloomberg L.P.

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