Women in energy field

Autor foto: Domena publiczna

Importance of and Tools for Women in Energy

Importance of and Tools for Women in Energy

October 15, 2024

Author: Petra Augustinova

Importance of and Tools for Women in Energy

Women in energy field

Autor foto: Domena publiczna

Importance of and Tools for Women in Energy

Author: Petra Augustinova

Published: October 15, 2024

European women’s emancipation went into full steam two centuries ago. Female votes have been casted for over one hundred years. Still, today, there are fields that are predominantly male. Energy is one of them. Women remain underrepresented in the energy sector worldwide— consisting of only approximately 22 percent of the global energy workforce.[i] A Similar situation is in the European Union (EU), with female staff composing 25 percent of all energy employment, including in renewable energy[ii], with even less women working in technical and leadership roles.

Simultaneously, it has been increasingly recognized that having more diverse leadership, comprised by of more women, allows companies to harness broader viewpoints and foster more innovative decision-making, leading to stronger overall business performance. According to 2021 Bank of America Global Research, gender diversity on boards and among managers correlates with a higher return on equity. S&P 500 companies with above median female management see a 30 percent higher return on equity (ROE) and 30 percent lower earnings risks over the next year compared to counterparts with below median female management compositions.[iii] Moreover, on the EU’s accelerated transition path to clean energy, I agree with Irene Giner-Reichl and Maria van Veldhuizen that increasing female representation is imperative for keeping and leveraging the clean energy momentum (e.g., through immediate skill training) and cross-the-board societal acceptance of deep energy transition (e.g., through participation and talents embrace).[iv]

The European Commission estimates that 200,000 additional women will need to join the energy sector in the EU by 2050 to achieve basic levels of gender balance. [v] The European Green Deal emphasizes inclusive growth in the transition to clean energy, including new gender inclusive green jobs within the New Plan for the Green Deal, as well as the EU Directive on Gender Balance on Corporate Boards. These are just a few examples of well-intentioned, strategic long-term policy. However, the quickly enacted push must come from the initiatives on the ground.

Although a good example of female representation in the nuclear field, with longstanding Women in Nuclear Slovakia branch and with national nuclear regulator headed by a renowned nuclear expert, chairwoman for over two decades, Slovak women represent only about 15 percent of energy employment in the country, much lower than the EU-average. There is an effort to change this. Firstly, as a follow up of November 2023 Women in Energy Roundtable organized by the U.S. Embassy in Slovakia and presided by U.S. Department of State (DOS) Bureau of International Security and Nonproliferation Principal Deputy Assistant Secretary (PDAS) Ann K. Ganzer, participating Slovak energy female professionals formed a Women in Energy platform. This forum is used to connect and network, educate and mentor, motivate and inspire, and appreciate women in energy and related professions. U.S. DOS Bureau of Energy Resources PDAS Laura Lochman recognized the endeavor of about seventy (and rising) members of the Women in Energy group in March 2024. Both Ganzer and Lochman have pledged to promote women in the energy sector as one of their priorities.

Secondly, Slovak Power Plants, the largest utility, and partially state-owned, company in Slovakia, has been working with schools to provide student internships and scholarships, expert lectures and consultations of student and professional theses.[vi] For almost ten years, it has been organizing energy summer school for math and physics enthusiastic pupils in the 5th to 8th grades of primary schools, with 12 girl students out of 24 in the 2024 round.[vii]

It seems Slovakia is onto something. It is critical to break down gender based stereotypes as early as primary schools, find innovative ways to connect technical STEM subjects to young diverse minds, provide potential talents with female role models for inspiration and mentoring, and prepare youngsters for future green jobs now. In its inclusive growth in the clean energy transition, Brussels should find effective ways to track these cross-EU grass-roots initiatives in real time, and find ways to recognize and boost them, and to proactively closely cooperate with them. We live in dynamic times and the clock is ticking.

Author: Petra Augustinova, Finalist of the Empowering Young Women Experts in Regional Security and Foreign Policy Fellowship

Petra served as Economic Specialist at the U.S. Embassy in Bratislava for almost four years, covering a wide portfolio of topics including energy, environment, science, technology and health. She has over ten years of professional experience in international relations, including research and analysis, publishing, business management and development, and consulting. She holds two master degrees in European studies and in economic diplomacy. Her research interests focus on cross-sectoral issues of the day, changing political realities and conflicts.

Soruces:

[i] U.S. Department of State. State Magazine: ENR and Embassy Bratislava Champion Women in Energy. May 2024. https://statemag.state.gov/2024/05/0524ib05/

[ii] Directorate-General for Research and Innovation of the European Commission. Gender Balance in the R&I Field to Improve the Role of Women in the Energy Transition. 8 March 2024. https://research-and-innovation.ec.europa.eu/news/all-research-and-innovation-news/gender-balance-ri-field-improve-role-women-energy-transition-2024-03-08_en

[iii] Aarthi Swaminathan. S&P 500 companies with more gender diversity on boards see 15% higher ROE: BofA. 3 March 2021. https://finance.yahoo.com/news/sp-500-companies-with-more-gender-diversity-see-15-higher-roe-bof-a-194303756.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFLCPo8rs9nrYtszLyuNntpKHhHjxZc4-984h178jQe3UiBS5ANDSkAAPUO5eacbnoyj40j9_eiRaQHhD3VaPk38Bz8xxZcal8DhFrR75pNIoBdXvZeQBU1sY5xucK4yAVr6muBHWSpB6pZuKjBpr8q47cb9dX-GOw92KFm3txCe&guccounter=2

[iv] Irene Giner-Reichl and Maria van Veldhuizen, Friedrich Ebert Stiftung Just Climate. Europe’s Energy Transition: Women’s Power in Solving the Labour Bottleneck. Employment Opportunities and Requirements  for Low-carbon Job Markets. 2023. https://library.fes.de/pdf-files/bueros/bruessel/20418.pdf

[v] Directorate-General for Research and Innovation of the European Commission. Gender Balance in the R&I Field to Improve the Role of Women in the Energy Transition. 8 March 2024. https://research-and-innovation.ec.europa.eu/news/all-research-and-innovation-news/gender-balance-ri-field-improve-role-women-energy-transition-2024-03-08_en

[vi] Slovenske elektrarne. For students. 2024. https://www.seas.sk/kariera-seas/pre-studentov/

[vii] Energoland. The Energy Summer School Entertained Young Mathematics and Physics Enthusiasts. 19 July 2024. https://energoland.sk/letna-skola-energetiky/