Diversity, Inclusion & Equity– A driver for authentic growth
As the world transitions to a more accepting and inclusive system, corporates are now bound by this same ethos, requiring them to embrace diversity that has long been scarce in the professional arena. Several events of these past years, including woes of COVID-19, as well as the economic crisis have made values such as diversity, equity, and inclusion (DE&I) stronger than ever. There is now prevalent and growing consensus that companies entertaining a strong identity anchored in DE&I are more prone to long-term success.
Gender, ethnic and cultural diversity in corporate leadership is more likely to spawn above-average profitability. In a nutshell, the more diverse the workforce, the more successful the business. While DE&I are fundamental concepts in today’s corporate culture, it is however, still largely lacking in areas such as construction, mining, and energy. Moreover, the past years have had another distinct theme: a renewed fight for equality in its many forms. What does true diversification and inclusion look like in the energy industry, and how do we get there?
The events of 2020 and 2021 highlighted the value of diversity in all spheres of life, as well as the dangers of complacency and exclusion. We have been remembered that there is still a long way to go until we live in a society in which all individuals, regardless of ethnicity, gender, sexual orientation, and ability, are treated equally. There has also been a renewed focus on racial equality and the feminine workforce demanding their worth in the job. At CSI Energy Group, we are no more less influenced, and while we talk to professionals, business partners and clients to analyze the impact DE&I has on the sector, we see the future of energy thriving from diversity and equality.
Diversity, inclusion, and equity is more than just a checkbox to tick. Undoubtfully, diverse teams enable organizations to innovate and thrive, result in happier and more productive employees, and increase retention levels. Embracing diversity will be vital for companies looking to manage the ongoing energy transition in the coming years.
Talking to Corine Racoute, Chief Human Capital Officer, CSI Energy Group, she explains that we must continuously challenge ourselves and our peers to pursue DE&I in the workplace, ensuring that the initiatives implemented within the organization are strong and sustainable, contributing to unleash our people’s full potential.
“We get serious about DE&I when we make the leap from raising awareness to taking meaningful actions by embedding DE&I in our overall organizational strategies. Our People Agenda is a starting point, where we must integrate DE&I in our hiring, performance management, reward management and succession planning processes, helping to shift mindsets, behaviours and practices towards a more equitable and inclusive culture. We all have an important role to play in this journey towards the future of energy, a future which is guided by principles of diversity, equity and inclusion leading to greater innovation, productivity, and collaboration.”
For Ipolito Mubiru, Executive Director of the African Diversity and Inclusion Center (ADIC), it is clear that DE&I and sustainability are strictly intertwined.
“Africa is the most diverse continent, and until all of us - governments, private sector, and civil society, work in tandem to tap into this diversity to leverage it as a strength, we can’t attain sustainable development, and the agenda of 2030 we all aspire to achieve. If diversity and inclusion are applied to policy-making, support is given to diverse suppliers through supplier diversity programs, and supportive employee resource groups are formed, engaged, and sponsored, we can be sure to achieve the socio-economic transformation we want to see. We must be intentional within workplaces and society to have everyone belong. The private sector and particularly the energy sector has a peculiarly strategic and important role to play, from saving our planet with renewable energy to ensuring every one of us can afford the energy to thrive.”
Promoting the women workforce
Allowing and promoting more women to enter and thrive in the industry, can inspire other women to break gender stereotypes and make career into male-dominated fields. When empowering women, you strengthen a whole community and future generations. Despite accounting for nearly half of the global labor market, women are estimated to make up only 22% of the traditional energy and 32% of the Renewables’ workforce, according to the International Renewable Energy Agency (IRENA). The numbers of women in leadership positions are even lower.
Breaking barriers and stereotypes are crucial for the industry to move forward and realize its full potential. Additional initiatives should be made to introduce energy careers to students at a young age and to encourage young women to pursue them. There is still much space for improvement when it comes to gender diversity in the energy sector and what we need to reflect on is: what can you do today to help increase the number of women at your organization?
