Metals and Mining Hold the Key to the Energy Transition. Gender-smart Businesses Can Be the Driver.
By Adriana Maria Eftimie, Sherry Goldberg, and Mary Dominic?
The shift to a low-carbon future will rely on critical minerals such as graphite, lithium and cobalt, and mining will be key to making the transition a reality. To meet these needs in sustainable ways, mining companies will have to become not only more climate-responsive but also equitable, including increasing women in the workforce, on boards, in supply chains, and in community initiatives. Gender-balanced workforces have already proven beneficial for mining companies’ bottom line by reducing risk, increasing innovation, and improving financial performance and transparency. Closing gender gaps can also drive sustainability and stronger climate governance and innovation.?
Research shows that women in leadership roles tend to be more receptive to issues related to local and global sustainability. Increases in gender diversity have been correlated with greater investment in renewable energy, and more attention to environmental considerations such as measuring and reducing carbon emissions. And reaching a critical mass of women on corporate boards—30 percent or more—has a positive correlation with better climate governance and innovation in mining and other infrastructure sectors.?
A Sector Poised for Change?
Women represent an estimated?5 to 10 percent of the global mining workforce, one of the lowest among all economic sectors. But teams with both men and women have been shown to deliver concrete benefits—an average of 67 percent lower total recordable injuries and a 21 percent greater sense of corporate pride than all-male teams, according to one study. Many mining companies, including IFC’s clients, are increasingly setting targets for better representation of women at different levels of their organizations.??
Even so, the drop-off from entry-level to executive for women in mining remains among the most dramatic across all industries. Eleven of the top 40 mining companies did not have any women in senior management positions in 2019. And women held just 14 percent of executive positions and 12.3 percent of board positions at mining companies worldwide in 2022. While these numbers are improving and we are seeing a positive change, it will take a long time to reach a critical mass of 30 percent board representation by women.?
Steps to Becoming Climate and Gender Smart?
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To meet the needs of a changing world, mining companies must redouble their efforts to become climate and gender-smart. That starts with making diversity, equity, and inclusion a strategic business imperative, especially as the mining sector faces a shortage of skilled workers in many countries where women represent an untapped talent pool.??
This work begins at the top—when boards, senior leaders, and investors consistently demonstrate the company’s commitment to gender equity, it becomes part of the company culture and values. And when leaders recognize the business case for gender equity, that commitment is translated into action.??
Meaningful steps include developing corporate policies and procedures that factor in the needs of all genders, preventing and addressing sexual harassment at the workplace, and creating more flexible, parent-friendly workplaces. Companies can turn to gender-responsive recruitment practices to help hire more women. These can include developing equitable, viable career paths for women and supporting mentorship programs, training opportunities, and professional networks to ensure career growth into leadership roles. IFC developed a toolkit that outlines these and other steps companies can take to increase women’s participation and influence in the mining sector as employees, suppliers, community members and leaders.??
Governments around the world must also play a key role in accelerating gender diversity in the sector. Setting gender targets and pursuing sustainability-linked finance instruments, developing gender-smart policy, and providing incentives or childcare subsidies are among the approaches we’ve seen. ?
Reducing the gender gap can help mining companies improve their competitiveness and long-term sustainability—and play a role in mitigating climate change. That is good for business, investors, social impact, and the planet.??
Adriana Maria Eftimie is an IFC gender lead for infrastructure. Sherry Goldberg is an IFC gender and community development consultant, and Mary Dominic is an IFC infrastructure and gender specialist.?
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