H.E. Dr Sultan Ahmed Al Jaber, Minister of State and CEO of ADNOC said, “ADNOC is proud to be making commitments to help realize the vision of H.H. Sheikha Fatima Bint Mubarak, Mother of the Nation, aimed at ensuring Emirati women play a greater role in the UAE’s economic prosperity. ADNOC has always played a valuable and crucial role in the UAE’s socio-economic development and we remain dedicated to empowering both our Emirati women and men.”
At an event held for ADNOC employees, H.E. Dr Al Jaber announced that ADNOC will seek to appoint one female CEO across its group of operating companies. He also set a target to ensure 15% of its senior managers will be women, and ended with a third goal to increase the number of new Emirati women recruits to 30% by 2020.
In the Middle East, 3% of employees in the oil and gas sector are female. At ADNOC that number is 10%, of which 71% are Emiratis. ADNOC across its group of companies already has several existing measures in place to advance women through their careers, and the launch of the new goals will further reinforce the Group’s lead on empowering women in the oil and gas sector within the region.
H.E. Dr Al Jaber said: “At ADNOC we recognize the value of gender equality and women empowerment, not only because it’s the right thing to do, but also because it makes business sense. Firms with more women are more profitable – and as ADNOC strengthens its business with a focus on people, performance, profitability and efficiency, investing in women’s inclusion and empowerment will form a core component of our People Strategy.”
ADNOC’s women empowerment strategy is based on secondary research that shows when both men and women are well represented in leadership positions, women bring different perspectives, impact, and diversity of experience to the workplace, leading to more innovative business solutions. A study by Credit Suisse, found that companies with more than 15% women in top management achieve significantly higher return on equity and valuation than companies with less than 10% women in leadership positions. Studies have also shown that a more diverse workforce has resulted in higher levels of productivity and creativity.
Alongside the three goals, H.E Dr Al Jaber unveiled four enabling initiatives, including an ADNOC oil and gas asset to be managed by women. The asset under consideration is the Al Rumaitha oil field.
The other three initiatives announced are the creation of a Gender Policy Framework; the setting up of ADNOC’s first Women’s Network, and a Women’s Leadership Development Programme. The Women’s Network will enable women’s views to be channelled through the company on business and career specific matters, and the Women’s Leadership Development Programme will focus on accelerating the leadership growth of women through a wide range of learning activities.
H.E. Dr Al Jaber said: “We are focused on cultivating a performance driven organisation and on recruiting, retaining and advancing both women and men from the UAE, ensuring we enable them to attain their full potential. In the process, we will create opportunities for future generations, forging a lasting legacy of growth, increased prosperity and a stronger society.
“Gender diversity in leadership positions contribute to innovative thinking that drives competitive advantage. We believe in leading by example – and we want ADNOC women and men to be leaders across all areas of science, engineering and management,” H.E. Dr Al Jaber added.