This year of 2021, as we celebrate the 50 years anniversary of voting rights of women in Switzerland, let’s look where we are in terms of women representation in business and in particular in the trading and shipping industry in Switzerland and internationally.
WISTA stands for Women’s International Shipping & Trading Association, a global association for women in the trading and maritime industry. It was established in 1974 by several female brokers from Germany, the Netherlands and the UK. Today, WISTA has more than 3,000 female professionals with national chapters in 53 countries. Since 2018, WISTA International has a consultative status at the International Maritime Organization (IMO).
The key mission of the association is to connect senior professional women around the world, as well as encourage diversity, inclusion and women empowerment in the industry. We are focusing on both promoting networking and educational opportunities, and at the same time providing a platform of discussion for sharing thoughts on key trends in the industry. We thrive to support women in their careers and to pave the way for long-term success.
WISTA’s chapter in Switzerland dates back to 2009 and today we have over 100 active members in Geneva, Zug, Zurich and Lugano. Mindful of the important place that trading and shipping takes in the Swiss economy, it is our role to be a voice for women. One predominant challenge still facing the industry to this day is the lack of female representation at the highest level of management. Bloomberg 2018 data showed that top commodity trading houses had less than 5% of women in leadership roles.
Based on WISTA’s actual analysis of 15 companies active in the trade of agricultural commodities, oil and gas as well as shipping, we found that in 2021 women represent approximately 25% on the Boards and only around 14% in senior leadership positions. These numbers indicate that some progress has been made since 2018, but we are still far away from a balanced representation at the highest echelons of the industry.
While businesses tend to increasingly recognise the importance of diversity in the workplace as a driver of success, and numerous companies have committed themselves to gender balance and equal pay, a lot of work remains to be done to promote the representation of women in leadership positions.
As a new generation of young professionals – both women and man – join the workplace, WISTA is ready to play its part, as a force for positive change, making sure that everyone has an equal world of opportunities.
