5 June 2024 
Data shows that Race to Zero companies outperform global averages by 45% and 32% in terms of gender diversity in boards and executive teams respectively.
Denominator’s data reveals that 32% of board positions and 25% of executive roles in companies committed to the UN Climate Change coalition, Race to Zero, are held by women.
Comparing for example the green energy sector with the oil & gas industry, it becomes apparent that green energy has a higher gender diversity, with 23% and 19% women in board and executive teams, respectively, compared to 21% and 15% in the oil & gas industry. To put these numbers into perspective, the global average is 22% women on boards and 19% women in executive roles.
Thus, the results highlight that Race to Zero companies are significantly ahead of the global average as well as the selected industries in terms of gender diversity in top leadership teams. This indicates that Race to Zero companies are not only committed to lowering global emissions but also to Diversity, Equity, & Inclusion as a key aspect of social sustainability.
However, while these numbers are encouraging, it’s important to note that there is still a significant gap to reach gender parity. Moreover, as outlined in a recent Responsible Investor article, women on boards are not a silver bullet when it comes to gender diversity since gender balance at the entry, middle management, and executive levels are equally important.
Therefore, Denominator provides data on all levels, including company data on initiatives and policies. By taking a holistic approach to DEI, Denominator enables better decision-making regarding social sustainability.
