- Aims to increase the proportion of female engineers and project managers by 2027
- Goals are part of an extended three-year environmental, social, and governance (ESG) initiative with Deutsche Bank
- Comprehensive action plan launched to support diversity and sustainability objectives
Primetals Technologies and Deutsche Bank have extended an agreement linking financial instruments traded between them to sustainability, social responsibility and - for the first time - gender diversity goals. As part of this renewed commitment, Primetals Technologies aims to increase the percentage of female engineers and project managers by 10 percent by 2027.
Enhancing Business Outcomes
Heavy industries have traditionally been male dominated. Women represented only 15 percent of the steel industry workforce globally in 2020, according to the World Steel Association. To reach its new gender goal, Primetals Technologies has launched a detailed action plan focused on fostering diversity, equity, and inclusion across the organization.
Broader Sustainability Goals
The agreement is also linked to sustainability and social responsibility goals. These include increasing the share of order intake related to greenhouse gas reduction and improving resource efficiency through research and development. Additional metrics focus on creating a safe and healthy work environment for all employees at Primetals Technologies.
As a global organization operating in more than 60 locations, Primetals Technologies trades several financial market instruments with institutions worldwide to manage currency risks. A substantial portion of these arrangements is linked to ESG goals.
Under the agreement with Deutsche Bank, which will be applied in compliance with local requirements, if Primetals Technologies fails to meet its gender or sustainability goals, it will be required to pay a predefined sum to a designated charity.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany, with strong European roots and a global network.
Primetals Technologies and Deutsche Bank have agreed on an environmental, social, and governance (ESG) initiative. Jeremy Hamon, Head of Group Finance at Primetals Technologies and Inge-Lise Mackaay, Managing Director and Head of ESG Solutions for Fixed Income & Currencies at Deutsche Bank.
Primetals Technologies, Limited, headquartered in London, United Kingdom, is a pioneer and world leader in the fields of engineering, plant building, and the provision of lifecycle services for the metals industry. The company offers a complete technology, product, and services portfolio that includes integrated electrics and automation, digitalization, and environmental solutions. This covers every step of the iron and steel production chain—from the raw materials to the finished product—and includes the latest rolling solutions for the nonferrous metals sector. Primetals Technologies is a Group Company of Mitsubishi Heavy Industries, with around 7,000 employees worldwide. To learn more about Primetals Technologies, visit the company website www.primetals.com.
