Galp has improved its rating in the Bloomberg gender equality index

Carrying on from last year, Galp continues to perform strongly in the Bloomberg Gender-Equality Index (GEI), its rating having risen from 82% to 85,75%

Gender equality is a fundamental right enshrined in the constitutions of most countries around the world. The European Commission has placed this topic at the top of its political agenda and has implemented an ambitious strategy aimed at an equal Europe for men and women by 2025. Portugal lies 15th in the EIGE (European Institute for Gender Equality) Gender Equality Index 2022, with a score of 62,8 points out of 100, and has been improving on a gradual basis.

Bloomberg has been publishing the Gender-Equality Index (GEI) since 2016, the result of a collaborative process designed to evaluate the performance of companies committed to disclosing their efforts in promoting gender equality, developing specific policies and investing in representation and transparency.

Once again, Galp features in this reference index, registering a score of 85,75 (above the average of 73) in 2023, thereby figuring among the 484 companies highlighted at a global level in a universe of around 11,500 publicly-traded companies from 45 countries that provided information.

GEI scores are calculated once a year using the data from the previous tax year for gender-related fields available in the Bloomberg Terminal Financial Analysis (FA) profile. The companies under analysis come from sectors such as technology, finance, energy and utilities, their participation is voluntary and involves no costs at all, thereby attesting to the transparency of this research.

The index measures gender equality through 70 parameters grouped in five categories: female leadership and talent flow, pay parity, inclusive culture, anti-harassment policies and external brand communication. This list, which is not ranked, enables investors to compare companies from all over the world, gaining an understanding of which organisations are investing in women and the regions in which they operate. Due to the fact that investors are increasingly aware of ESG criteria and, above all, of the power of women in society, this independent, impartial study provides the companies included in the list with a major opportunity to attract investors, as stated in the document released by Bloomberg.

Galp has been making steady year-on-year progress, reflected in the fact that 43% of the company's workforce was made up of women in 2020 and 44% in 2021. The number of women in senior management positions also increased from 35% to 37% and the percentage of women in management positions rose from 32% to 33%.

According to GEI data, four of the 18 members of the Galp Energia board of directors were women in 2021, equal to 22%, and one of the five executive directors was a woman, or in other words, 20%. 25,1% of the senior management positions were held by women, with around 36.8% in middle management. This percentage in intermediate positions almost doubles, to 67%. With respect to promotions, 44% involved women, while 48% of new admissions were female.

With regard to the issues of pay parity and inclusion, and in line with the company's 2023 Equality Plan, Galp is striving to increase the percentage of women in management positions and to reduce the pay gap between genders, thereby achieving parity in 2030, underlining the fact that the pursuit of active policies geared to equality between men and women is a mandatory corporate social responsibility. In global terms, SDG (Sustainable Development Goal) 5 on Gender Equality is one of the goals with the least progress in the last five years, and it has been proven that gender equality contributes to increased productivity and the creation of value.


Leading the way in the field of sustainability as well

In addition to the company's excellent ranking on Bloomberg's Gender-Equality Index (GEI), Galp has also topped several international sustainability indices. At the end of 2022, the company was the most sustainable organisation in its sector in the Dow Jones Sustainability Index (DJSI) World, was in the top 5 of the Sustainalytics ranking (promoted by Morningstar), and held the Leadership position in the CDP (Carbon Disclosure Project) for climate change. Viewed as a whole, these acknowledgements are due reward for Galp's strategy to decarbonise its activities, while disclosing the company´s performance in a transparent manner.