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ANZ’s Brenda Trenowden and National Grid’s Susan Robson lead the FT & HERoes Champions of Women in Business 2018

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ANZ’s Brenda Trenowden and National Grid’s Susan Robson lead the FT &HERoes Champions of Women in Business 2018
  • The 2018 FT & HERoes Champions of Women in Business Role Model lists are revealed
  • Brenda Trenowden CBE, Head of Financial Institutions, ANZ, tops this year’s ‘100 Female Executives’ category
  • Susan Robson, Principal Consultant, National Grid, tops the inaugural ‘50 Female Future Leaders’ category 
  • Paul Polman, CEO, Unilever, leads the way in this year’s ‘50 Male Executives’ category.
  • The lists celebrate exceptional business leaders of all genders across the world who are committed to promoting gender diversity and inclusion in the workplace 

The FT & HERoes Champions of Women in Business lists were announced today, celebrating role models who are driving the female talent pipeline in business. 

The FT & HERoes 100 Female Executives:

Brenda Trenowden CBE, Head of Financial Institutions, ANZ, has ranked first in this year’s FT & HERoes 100 Female Executives category. The financial services professional has been recognised for her dedication to promoting a fair gender balance in UK workplaces as part of her work as Chair of the 30% Club. Brenda’s role as an adviser to the Governmental Hampton-Alexander Review on increasing female representation on FTSE 350 boards has also been recognised. Jayne-Anne Gadhia, CEO, Virgin Money earned the number two spot, whilst Melanie Richards, Deputy Chair, KPMG was ranked third.

The FT & HERoes 50 Female Future Leaders:

This year’s FT & HERoes lists also sees the launch of a category dedicated to championing future female business leaders. Susan Robson, Principal Consultant, National Grid, has ranked first in the inaugural 50 Female Future Leaders list. Susan has been rewarded for her voluntary work to create gender diversity in the workplace, particularly within typically male-dominated STEM roles. Lucinda Wakefield, VP Principal Administration and Planning, BNY Mellon, was ranked second, whilst Sue McLean, Partner, Baker McKenzie, came in third. 

The FT & HERoes 50 Male Executives:

The FT & HERoes also acknowledge the important role men play in pushing for gender equality in business. Paul Polman, CEO, Unilever, has ranked first in this year’s 50 Male Executives category. Under Paul’s leadership Unilever has become a gender balanced business with 45% of its non-executive directors and 47% of its managers are female thanks to its leading retention and recruitment policies. Peter T Grauer, Executive Chairman, Bloomberg, came in second and Marc Benioff, CEO, Salesforce was named third.

Current landscape for women in the workplace:

  • Only eight FTSE 100 companies have female CEOs, yet there are eight CEOs called David
  • Only 24 female CEOslead the companies on the 2018 Fortune 500 list, a drop from the 2017 list
  • ONS dataindicates that there is a 9.8% median gender pay gap in the UK
  • Eight in tenUK firms pay men more than women
  • There are no industry sectorsthat pay women more than men, with companies in construction and finance reporting the largest gender pay gap
  • Research by INvolve and Cebrshows gender discrimination in UK workplaces costs the economy £123billion every year
  • ONS datashows that 71% of British women are employed, compared to 81% of men
  • Research from Monster.co.ukshows that a quarter of women have experienced or witnessed gender inequality in the workplace in the past twelve months

 The awards were judged by Suki Sandhu, Founder & CEO, INvolve, Helena Morrissey, Head of Personal Investing, Legal & General Investment Management,Mellody Hobson, President, Ariel Investments, Mark Wilson, Group CEO, Aviva, Gigi Chao, Executive Vice Chairman, Cheuk Nang Holdings and Harriet Arnold,Assistant Editor, Special Reports, FT.

Founder of INvolve and HERoes, Suki Sandhu, says: “These lists have been created with one aim – to create gender parity in workplaces across the globe.

“The role models we’re recognising aren’t just those who have achieved success themselves – they’re those who are committed to lifting others with them as they climb, and ultimately fueling the female talent pipeline.

 “As evidenced by the recent reporting of gender pay gap data across the UK, the quest for workplace gender equality is not complete. All of our champions are inspiring the next generation of female talent who will go on to obliterate the glass ceiling. Ultimately, through these lists we hope to encourage individuals and businesses to stand up and work together to drive change not just in workplaces, but across society as a whole.” 

 Brenda Trenowden CBE, Head of Financial Institutions, ANZ, says: “I am both humbled and delighted to be included in a list of so many inspirational men and women, all of whom are doing a great deal to empower and promote women in business.  Recognition like this helps to keep gender diversity near the top of the agenda.

“I believe that we all have a responsibility to lead by example and to create truly inclusive workplace cultures where everyone can thrive and succeed.  I’m encouraged that this is becoming a mainstream issue and that we are making progress, but there is still much more to do!”

 Susan Robson, Principal Consultant, National Grid, says: “For any business to succeed, diversity and inclusion needs to be at the centre of their strategic priorities. Diversity of thought and voices at all levels of the workplace leads to fresh and innovative problem solving.

 “For National Grid, this not only enables us to deliver good business results, but is critical for safety-first operations and customer-focus. We can only truly understand our customers and communities if our own people represent the stakeholders we serve. 

 “At National Grid we know that being inclusive takes all of us, from all backgrounds, to work together. Leading the Women’s Network at National Grid is a fantastic place to make a difference, and it’s enormously rewarding to know we are helping women unlock value in their careers and inspiring women and girls into the energy industry.“

 Paul Polman, CEO, Unilever, says: It is a great honour to be recognised in this way, as this is an issue I feel very strongly about. It gets the heart of what it means to be a part of an open society where everyone has the right to live with dignity and respect, able to meet their full potential. Investing in women and their leadership potential has also been shown, repeatedly, to be one of the biggest opportunities for business today.”

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Exclusive: Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up

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Exclusive: Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up 1

By Sergio Goncalves

LISBON (Reuters) – Portugal will start producing green hydrogen by the end of 2022 and already has private investment worth around 10 billion euros ($12 billion) lined up for eight projects that are expected to move forward, Environment Minister Joao Matos Fernandes said.

He told Reuters in a telephone interview there were also several “pre-contracts for the purchase and assembly of electrolysers” to produce the zero-carbon fuel made by electrolysis out of water using renewable wind and solar energy.

Such hydrogen is more expensive to extract than the heavily polluting conventional method of using heat and chemical reactions to release hydrogen from coal or natural gas, known as brown and grey hydrogen respectively.

Hydrogen is now mostly used in the oil refining industry and to produce ammonia fertilisers, but sectors such as steelmaking, transportation and chemicals are beginning to develop large-scale hydrogen applications to gradually replace fossil fuels as countries try to reduce pollution.

The European Commission has mapped out a plan to scale up green hydrogen projects across polluting sectors to meet a net zero emissions goal by 2050 and become a leader in a market analysts expect to be worth $1.2 trillion by that date.

“By the end of 2022, there will certainly be green hydrogen production in Portugal,” Matos Fernandes said. “Green hydrogen will, over time, allow Portugal to completely change its paradigm and become an energy exporting country.”

He said seven groups had submitted applications under Europe’s IPCEI scheme for common-interest projects to make part of a planned export-oriented “hydrogen cluster” near the port of Sines, from where hydrogen could be shipped to Rotterdam. Total investment there is estimated at some 7 billion euros.

A consortium including Portugal’s main utility EDP, oil company Galp, world’s largest wind turbine maker Vestas, among others, is behind one of the projects.

In Estarreja in north Portugal, local firm Bondalti Chemicals aims to invest 2.4 billion euros in a hydrogen plant.

Altogether, these envisage an installed capacity of over 1,000 megawatts (MW).

Matos Fernandes said Portugal was also negotiating with Spain the construction of a pipeline for renewable gases, including hydrogen, from Sines to France, crossing Spain.

LITHIUM PLANS

Spain and Portugal also want to develop an ambitious cross-border lithium project taking advantage of the geographical proximity of their lithium deposits and aiming to cover the entire value chain from mining to refining, cell and battery manufacturing to battery recycling, he said.

Portugal is already a large producer of low-grade lithium mainly for the ceramics industry, but is preparing to make higher-grade metal used in electric car batteries.

A much-awaited licensing tender for lithium-bearing areas that has been delayed by the COVID-19 pandemic should take place by the year-end, Matos Fernandes said.

He promised the tender would address environmental concerns by local communities and there would be no lithium mining “at any cost”.

The minister also said Portugal would use its six-month presidency of the Council of the European Union to finalise a landmark law that would make the bloc’s climate targets irreversible and speed up emissions cuts this decade, expecting it to be approved in the first half of 2021.

(Reporting by Sergio Goncalves; Editing by Andrei Khalip and David Evans)

 

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Under fire in EU, AstraZeneca CEO says ‘hopefully’ will meet vaccine supply goals

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Under fire in EU, AstraZeneca CEO says 'hopefully' will meet vaccine supply goals 2

BRUSSELS (Reuters) – AstraZeneca boss Pascal Soriot said on Thursday he hoped to meet the European Union’s expectations on the number of COVID-19 vaccines the company can deliver to the bloc in the second quarter, after big cuts in the first three months of the year.

The Anglo-Swedish drugmaker has been under fire in the EU for its delayed supplies of shots to the 27-nation bloc, which ordered 300 million doses by the end of June.

“We are working 24/7 to improve delivery and hopefully catch up to the expectations for Q2,” Soriot told EU lawmakers in a public hearing.

Under its contract with the EU, the company has committed to delivering 180 million doses in the second quarter.

Soriot did not mention the 180 million target, but said he was confident the company will be able to increase production in the second quarter using factories outside the EU that had no production problems, including in the United States.

He confirmed the company was trying to get 40 million doses of the COVID-19 vaccine to the EU by the end of March, which is less than half the amount it promised for the quarter in its contract.

The EU, which has fallen far behind the United States and former member Britain in vaccinating its public, has repeatedly urged the firm to deliver more.

Lower-than-expected yields – the amount of vaccine that can be produced from base ingredients – at its factories hurt output in the first three months.

Asked about supplies to Britain, which relies on the same factories used by the EU, Soriot said the former EU member with a population of around 66 million was smaller, and noted that most doses produced in the EU were used to serve the EU which has a population of about 450 million.

Executives from rival drugmakers that have developed or are testing COVID-19 vaccines, including Moderna Inc and CureVac NV were also part of the panel.

But most questions were directed at Soriot amid anger that the company has failed to deliver promised vaccine quantities to the bloc on schedule.

Moderna Chief Executive Officer Stephane Bancel said the company has experienced fluctuations as the U.S. biotech group ramps up output of its COVID-19 vaccine.

He said usually a company would stockpile product ahead of a launch, but it is shipping every dose it makes, leaving it without any spare inventory.

His comments came a day after the company increased its output target for this year and 2022 as it invests in additional manufacturing capacity.

(Reporting by Josephine Mason in London and Francesco Guarascio in Brussels; Editing by Susan Fenton, Bill Berkrot and Keith Weir)

 

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Shift to sun, ski and suburbs gives Airbnb advantage over hotels

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Shift to sun, ski and suburbs gives Airbnb advantage over hotels 3

By Ankit Ajmera

(Reuters) – Airbnb’s quarterly results are likely to show the pandemic may have helped the home rental company lure leisure travelers away from big hotels during the global travel collapse of 2020.

Weary of being locked up in their homes for months, travelers hit the road and booked homes and cottages on Airbnb, while avoiding flights and downtown hotels, analysts said.

Airbnb accounted for 18% of the total U.S. lodging revenue in 2020, up from 11.5% in 2019, data from hotel analytics provider STR and vacation rental data company AirDNA showed.

It outperformed the hotel industry and online travel agents such as Expedia and Booking.com thanks to its greater offer of ‘sun, ski, and suburban’ rental homes, Cowen & Co analysts said.

Shift to sun, ski and suburbs gives Airbnb advantage over hotels 4

(Graphic: Airbnb grabs bigger share of U.S. lodging market in pandemic: https://graphics.reuters.com/AIRBNB-RESULTS/yxmpjxqdopr/chart.png)

For an interactive graphic, click here: https://tmsnrt.rs/3pPbQwH

THE CONTEXT

In 2019, about 90% of Airbnb’s bookings came from leisure travels compared with about 20%-30% for large hotels chains, including Marriott and Hilton, that rely on business travel to grow their profits.

“Unfortunately, the hotel operators do not have as much supply in locations where people are willing to travel,” said Jamie Lane, vice president of research at AirDNA.

Lane said with mass vaccinations later in the year, the share of alternative accommodations including Airbnb will drop before continuing to grow at 2%-3% per year once normal travel patterns return.

Shift to sun, ski and suburbs gives Airbnb advantage over hotels 5

(Graphic: Airbnb U.S. sales against top hotels: https://graphics.reuters.com/AIRBNB-RESULTS/gjnpwzkdbvw/chart.png)

For an interactive graphic, click here: https://tmsnrt.rs/3dPKvsd

THE FUNDAMENTALS

* The San Francisco-based company is expected to report gross bookings of $23.10 billion in 2020, down from about $38 billion a year earlier, according to the mean estimate of 12 analysts according to Refinitiv; gross bookings are seen rising by 50% in 2021.

* Analysts’ mean estimate for Airbnb’s full-year net loss is $3.52 billion, bigger than a loss of $674.3 million a year earlier. Full-year revenue is expected to drop 32% to $3.27 billion.

WALL STREET SENTIMENT

* Of 34 brokerages, 20 rate Airbnb’s stock “hold”, 12 “buy” or higher and two “sell” or lower

* Wall Street’s median 12-month price target for Airbnb is $156​, about 22% below its last closing price of $200.20.

* The company’s stock has nearly tripled since listing in December

Shift to sun, ski and suburbs gives Airbnb advantage over hotels 6

(Graphic: Airbnb’s stock has nearly tripled since debut: https://graphics.reuters.com/AIRBNB-RESULTS/jznpnoqrlvl/chart.png)

For an interactive graphic, click here: https://tmsnrt.rs/3dG2lOd

(Reporting by Ankit Ajmera in Bengaluru; Editing by Sweta Singh and Saumyadeb Chakrabarty)

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