ADIPEC 2021 To Address Challenges of Diversity, Equity and Inclusion in the Energy Sector
This year’s edition of ADIPEC, taking place from 15-18 November at ADNEC in Abu Dhabi, will host the ADIPEC Forum for Diversity, Equity and Inclusion under the theme of ‘Shaping the future of the energy workforce’.
Taking place on Thursday 18 November, the final day of the world’s most influential energy event, the Forum will take the conversation beyond gender stereotypes and focus on the role of equity and what that means for the industry.
During the ADIPEC 2021 Forum for Diversity, Equity and Inclusion, international experts will take an in-depth look at the structural inequalities that the industry is facing and develop a roadmap that will define strategic direction and create equitable solutions that attract and retain talent to navigate organisations through this critical transition period.
Panel sessions and roundtable discussions at the Forum will cover important topics such as closing the gender gap, creating accountability, building equal opportunities, equity in education and refocusing diversity, equity and inclusion strategies in the wake of the pandemic.
Key speakers include Shamsa Almaskary, SVP - Strategy & Corporate Support, ADNOC; Carole Nakhle, CEO, Crystol Energy; Nicole Durham, Chief Diversity, Equity & Inclusion Officer, Baker Hughes; and Iman Hill, Executive Director, International Association of Oil & Gas Producers (IOGP), amongst others.
The Forum will also discuss key issues such as the importance of leadership engagement and its impact on the workplace culture, looking into diversity, equity and inclusion as a key factor in strengthening an organisation’s ESG proposition, how gender-balanced boardrooms help accelerate decarbonisation efforts, and how important gender equity is in achieving sustainable development to combat climate change and fuel the energy transition.
Strengthening gender diversity in the energy sector requires long-term efforts to boost inclusion. However, there is undisputed evidence that companies who create more gender-inclusive career paths for women will be better positioned to navigate the disruptive challenges of the transition towards clean energy that lies ahead.
Commenting, Christopher Hudson, President of dmg events, the organisers of ADIPEC, said: “Climate action and the energy transition offers opportunities to develop new capabilities within the energy industry’s workforce. Developing a diverse, equitable and inclusive environment will contribute significantly by adding decision-makers, stakeholders and experts in all disciplines.”
Tackling the issue of diversity in the workplace is now commonplace throughout many sectors, however the energy industry has been slow to adapt. According to analysis by the Organisation for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA), data collected from up to 2,500 energy-related companies reveals that women make up less than 14% of senior management, and only 5% of women reach CEO level. Furthermore, over 25% of participating firms had few or no women in leadership roles.
However, numerous reports suggest women are a valuable asset, particularly at the senior management level. For example, research by the Bank of America identified that S&P 500 companies with more women in leadership than the median witnessed a 30% higher return on equity and a 30% lower earnings risk relative to lower-ranked peers.
In addition, the International Monetary Fund (IMF) claimed that having more women in the workplace could increase GDP by up to 35% - based on 2021 estimates that could mean an additional $140 billion to the UAE economy alone.
Held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by the Abu Dhabi National Oil Company (ADNOC), ADIPEC returns in person this year from 15-18 November, bringing together experts from across the full value chain and giving all attendees the chance to shape the future of the energy landscape.
Abu Dhabi National Oil Company
Abu Dhabi National Oil Company (ADNOC) was established in 1971, to operate in all areas of the oil and gas industry and since then has steadily broadened its activity establishing companies and subsidiaries and creating an integrated oil and gas industry in Abu Dhabi. Today, the company manages and oversees oil production of more than 2.7 million barrels a day which ranks it among the top ten oil and gas companies in the world.