Exxaro Resources, one of South Africa’s largest black-empowered diversified mining and energy solutions company, is proud to announce that its commitment to gender equality has been rewarded with its inclusion in the prestigious Bloomberg Gender Equity Initiative (GEI) for a third year in a row.
Bloomberg’s Gender Reporting Framework is a standardised reporting method used globally to acquire comprehensive workplace gender data. The GEI framework defines a set of metrics used to determine a company’s progress towards equal representation of gender through the various employment levels of the organisation.
The framework also evaluates a company’s commitment to gender equality goals, policies in place to reduce the impact of familial stresses and responsibilities in the workplace and progress towards positive impact on women outside of the employee base.
“This accolade bears testimony to the impact that our business practices and commitment have to ensuring that we continue to fulfil our purpose of Powering Better Lives by creating an enduring, positive change for all women within our organisation and broader society,” said Exxaro’s CEO-Designate and MD Minerals, Dr Nombasa Tsengwa.
“We are resolute in our commitment to doing our part to create a fair and inclusive culture in this male dominated industry. The Bloomberg recognition is a reflection of our progress and proves that we are moving steadily in the right direction, towards a more equitable and inclusive work environment,” adds Dr Tsengwa.
Overall – Exxaro achieved a weighted GEI score of 76.74%, based on a disclosure score of 96.88% and a data excellence score of 68.11%. In the more than 70 metrics, each allocated to one of five pillars, Exxaro performed above industry norms, including female leadership and talent pipeline (58.33%); equal pay and gender pay parity (58.82%); inclusive culture (73.3%); anti-sexual harassment policies (80%); and pro-women brand (88.24%).
According to Bloomberg Chairman Peter Grauer, it is critical for companies to demonstrate their commitment to solving for gender inequality.
“Stakeholders, including employees, investors, and regulators, care more than ever about how a company treats its employees and whether its products and services are helping serve the needs of society,” Mr Grauer states.
“Leading the charge for transparency, the companies publishing their data through our reporting framework have set a new standard for data reporting. By publicly releasing their gender-related data, these companies have fortified their commitment to gender equality internally and in the communities around them.”
Vanisha Balgobind, Exxaro’s Executive Head for Human Resources says the achievement is part of an ongoing process to drive positive change not only in the industry but across broader society.
Balgobind explains that the company has formed a diversity and inclusion task team which incorporates standards set by the Mineral Council South Africa and the United Nations. This action has led to a significant increase in the number of women participating in its business, with regards to employment; receiving bursaries and women-owned businesses being included for the company’s procurement opportunities.
“We are proud to lead with such commitment to inclusivity in the mining industry and are motivated by this milestone to accelerate our progress,” says Balgobind. “For topics as important as gender equality and equity for all, it is reassuring to have an internationally recognised benchmark to validate the path we have taken. This accolade underscores our commitment to ending discriminatory practices in all its forms.”