Gender policy 2022
1. Introduction and purpose
This policy provides focus on the gender composition in the leadership of Danske Commodities.
Further, this policy constitutes the required reporting according to the Danish Financial Statements Act §99 b on targets for policies on gender composition of top leadership of the Company as well as the Danish Companies’ Act § 139c on a policy for increasing the proportion of the under-represented gender on the additional leadership levels.
The policy is based on women as the under-represented gender due to the Company’s current gender balance.
2. Target and policy for a diversified leadership
Danske Commodities has created a policy and target for the under-represented gender in the Board of Directors.
The current representation of women as well as the target for increasing the share of women in the Board of Directors may be found in section 2.1.
2.1. Target for Board of Directors
In 2021, Danske Commodities lived up to the target of a minimum of 2/7 females in the Board of Directors (corresponding to 28.6%). However, during 2022, the Board of Directors has been subject to changes due to two board members stepping back, including one female. One of the resigned board members has been succeeded by a male board member. Therefore, Danske Commodities does not, per ultimo 2022, live up to the target of a minimum of 28.6% females in the Board of Directors. The share of 28.6% females remains the target for 2023.
- Board members: 6
- Women: 1
- Share: 16.7%
- Target: 28.6%
2.2. Policy for a diversified leadership
Danske Commodities is a leading energy trading company which trades power, gas and certificates across borders. The Company uses market knowledge and a 24-hour trading setup to support customers through tailor-made services targeting renewable producers, conventional assets and energy suppliers.
In the energy trading industry, the majority of the positions, with and without managerial responsibility, are occupied by men. According to a report by the Boston Consulting Group, there are fewer women in the energy industry than almost any other major industry. Women account for less than a quarter (22%) and only 1% of CEOs.
Danske Commodities is aware of the benefits of a diversified organisation and a diversified leadership group. Therefore, the Company has an incentive to increase diversification both in terms of gender, age, nationality, etc. Danske Commodities has in the 2022-2025 corporate strategy communicated an ambition to transition towards 30% females by 2025.
Further, the Company has an incentive to increase the diversity by ensuring that it is able to attract as many talented and qualified candidates as possible regardless of e.g. gender. In this regard, extraordinary focus is put on inclusion as this is seen as key to attracting and retaining a diverse workforce.
To support this, the Company has updated its recruitment process throughout 2022 to support an unbiased recruitment setting. Also, the Company has, throughout 2022, had a great focus on creating awareness about diversity & inclusion (D&I) among employees and, in particular, leaders. In addition, the leaders have been provided with specific training in inclusive leadership and unconscious bias. During 2023, the work with D&I will intensify further.
Further, the Company has again in 2022 conducted an internal leadership assessment programme which had qualified female employees attending. This will be repeated in 2023.
As per 31 December 2021, out of 57 managerial positions in Danske Commodities; 9 women were represented. This includes two newly appointed female leaders during 2021. As per 31 December 2022, out of 65 managerial positions in Danske Commodities; 12 women were represented. This is an increase in 2022 from 15.8% to 18.5% female leaders in the Company. Leaders include all employees in Danske Commodities in a managerial position and are accounted for in headcount.
Overall, dedicated measures have been taken in 2022 in regard to D&I and the work will continue with increased focus in 2023 and the years to come.
 The Boston Consulting Group. (2017). Untapped Reserves: Promoting Gender Balance in Oil and Gas.