Women leaders are key in Middle East battle against climate change, survey reveals

“Our study reiterates the crucial importance of increasing the representation of women in boardrooms in driving corporate performance along with accelerating capabilities to fight against climate change. With COP 27 and 28 taking place in the MENA region, it is important that all stakeholders collaborate and formulate policies that encourage diversity,” APICORP director of corporate communications and outreach Raeda Al Sarayreh said.

“Despite commendable initiatives around gender diversity in the MENA region, industry data suggests that over $575 billion is lost annually due to legal and social barriers that exist for women’s access to jobs and they are often excluded from many high-level government and corporate discussions on climate related issues,” the study said.

According to the study, female investors and policymakers on the corporate and public level are twice as likely to consider ESG (environmental, social, and corporate governance) investing when compared to men.

The presence of women in conservation and natural resource management led to “stricter and more sustainable extraction rules, greater compliance, more transparency and accountability, and better conflict resolution,” as per a review of 15 studies conducted across the world.

As per the study, women, girls and marginalised communities are significantly impacted by climate change. Due to this, they must be involved in the “design and implementation of climate response actions to ensure the equal sharing of benefits.”

The UAE government taken conscious steps to promote gender equality and access of women to leadership roles. As of now, about 53 percent of the UAE’s total workforce include women, with two-third government jobs held by women. Additionally, in the government, a third of the portfolios are with women.

“Diverse perspectives and ways of thinking are necessary to face the complexity and instability of the current world. We need all talents and not only half of the population to succeed in the fight towards a sustainable economy,” ENGIE chief executive officer Catherine MacGregor said.

The same sentiment echoed in American University in Cairo’s associate dean executive education, and founder of the Women on Boards Observatory Dr. Ghada Howaidy, who said: “Diversity is important because it means that we would look at issues such as ESG with a different perspective. A diverse boardroom would be better equipped to face challenges thrown by climate change or other risks.”

According to the study, “networking groups are playing an inspiring role in empowering women and encouraging them to have a vision for their success. Similarly offering women access to mentorship programs can help pave their path towards career growth.”

“We believe in identifying the need for mentorship and in having female mentors to help accelerate the personal and professional development of our young female workforce,” founder of 30% Club MENA and chief executive officer of Lazard Asset Management GCC Farah Foustok said.