GALP - Equality Plan 2024

GALP - Petróleos e Gás de Portugal, SGPS, S.A., exploits the oil and natural gas business in portugal. The primary aim of this Plan is to enhance gender equality in economic decision-making within the company. One of the main intervention strategies is to encourage balanced participation of women and men in decision-making positions. The measures include analyzing gender representation across different departments and developing specific action plans for recruitment, succession, and mobility, with the overall objective of achieving gender equality. Control mechanisms are also implemented to ensure these measures are effectively carried out. Procedures are created and enforced to identify the under-representation of women in top and management positions, providing them with opportunities for promotion or recruitment into these roles in the future.
Key activities of the plan include the design and implementation of a cross-sectional wellness program, which consists of several initiatives to support the reconciliation of personal and professional life, as well as the physical well-being and psychological health of employees. Additionally, there is an initial identification of the female population to be part of a comprehensive development program for High Potential Women. This program includes actions such as Galp's global mentoring program, the Leadership Program, and career counseling.
The primary target group for this plan is women within the company. By integrating a program for the development of High Potential Women, the plan sets parameters for their development extending until 2030.
The "Plano para a Igualdade 2024" from Galp has been designed to incorporate various measures and practices aimed at achieving gender equality across different domains within the company. Notably, Galp aims to increase the percentage of women in management positions. The company's data indicates progress, with women making up 45% of the workforce in 2022, and their representation in senior management roles rising from 25% in 2020 to 28% in 2022.
Galp is committed to reducing the gender pay gap, aiming for a ratio of 1 between the average annual salaries of men and women in comparable positions. Various measures are in place to ensure a fair and objective selection and recruitment process, including an Inclusive Recruitment training plan for the people team and leaders. In 2023, 48% of new hires were women, reflecting significant progress.
Several programs and initiatives have been implemented to support gender equality, such as the LeadHER program, which includes mentoring and leadership development for high-potential women. Galp also promotes a culture of protection and support for parental leave, work-life balance, and mental health, alongside ensuring equal pay for equal work.
The "Plano para a Igualdade 2024" is being monitored by Galp's People Directorate, which will track the implementation of measures and assess whether the objectives are being met. The results will be presented for internal and external reporting as required, ensuring accountability and continuous improvement.

Read the full analysis: https://www.galp.com/corp/Portals/0/Recursos/Governance2024/PlanoIgualdade_PT_2024.pdf