Kuwait: The EQUATE Group, a global producer of petrochemicals, presented its sustainability strategy and showcased its efforts to achieve gender equality during a conference on the “Sustainable Development Goals: Achievements and Challenges” organized by the Women’s Research and Studies Center at Kuwait University and the United Nations Development Programme (UNDP).
Held from November 11th to 13th, the Conference hosted EQUATE President and CEO, Dr. Ramesh Ramachandran, in its opening ceremony.
In his speech, EQUATE President and CEO Dr. Ramesh Ramachandran said: “Throughout my 30 years of experience in multiple countries and despite the regional differences, I have realized that when it comes to women empowerment, teams face similar gender equality challenges. They are able to hire talented women but always lose them in their mid-career. Our biggest challenge is to make sure we don’t lose these women that we have invested in so much, because teams featuring gender equality are much more productive and successful.”
Ramachandran added: “For us to succeed or to grow and to be more profitable, it is imperative that the teams and the staff in whichever functions we choose, rely on the presence of women, which enables companies like ours to be more successful and we see that in EQUATE here in Kuwait.”
The Group leveraged the UN Women’s Empowerment Principles (UN WEP) as a benchmark for its policies and practices, and developed a 3-year action plan in its duty stations in Kuwait, USA and Canada. The plan included the launch of its global program named “ELEVATE” that aligns with the fifth SDG on gender equality and the New Kuwait Vision, and aims to strengthen and promote gender equality.
In a panel discussion during the Conference, Performance Management Rewards Senior Specialist at EQUATE and a member of the ELEVATE program, Lulwah AlMunifi, presented the structure of the program. For her part, the Senior Enterprise Applications Consultant at EQUATE and also a member of the ELEVATE program, Zainab Haider, focused on the action plan to successfully implement the UN WEP.
Today, women account for only 22% of the workforce in the global oil and gas sector, one of the smallest ratios among major industries. EQUATE’s goal is to increase the percentage of women working in this industry from 6% to 10% within five years and empower them to partake in leadership positions.
ABOUT THE EQUATE GROUP
The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com
© Press Release 2019