Dow hails sustainability as a driving force in global economy
Commodity chemicals giant Dow has won four Business Intelligence Group (BIG) 2019 Sustainability Awards in recognition of the sustainability practices that have been integrated into its operations.
In a press release announcing its awards success, Dow said that sustainability is becoming central to the prosperity of the global economy.
The firm took home the awards for Sustainability Initiative of the Year for Dow Polyurethanes’ RENUVA Mattress Project (which recycles polyurethane foam from end-of-life mattresses); and three Sustainability Product of the Year awards for Dow PRIMAL Bio-Based Acrylic Emulsion (leveraging plant-sourced carbon rather than petroleum-based options), DOWSIL Reworkable Thermal Conductive Silicone Gel (enhancing the sustainability of consumer electronics manufacturing), and RENUVA Polyols (generating high-value raw materials from recycled end-of-life mattresses for myriad applications).
“Dow’s innovation engine continues to deliver breakthrough technologies that meet our customers’ needs, while delivering solutions for the world’s toughest challenges,” said A N Sreeram, Senior Vice President for Research and Development, and Chief Technology officer for Dow, in the company’s press release.
“Using our unique-to-the-world capabilities, our teams play a key role in advancing the world’s transition to a more sustainable planet through market-driven, sustainable solutions.”
Mary Draves, Vice President of Environment, Health and Safety, and Chief Sustainability Officer at Dow, added: “I couldn’t be prouder of this year’s award winners. Sustainability is a driving force in today’s global economy. As part of our 2025 Sustainability Goals, our teams are working hard to deliver breakthrough sustainable chemistry innovations.
“And, the circular economy program from Dow Polyurethanes is a model for closed loop systems across value chains. We’re grateful for the recognition of our efforts from Business Intelligence Group.”
ASCM: Supply chain pay gap closes in under 40s
The pay gap between men and women working in supply chain under the age of 40 has finally reached parity, according to the Association for Supply Chain Management’s latest annual Supply Chain Salary and Career Report.
The gender pay gap in this age group had been narrowing over the past two years, the ASCM’s previous surveys show, and in 2021 has closed entirely. Women report a median salary of $81,000 annually, while men earn a median annual salary of $79,000. Across all age brackets, men report a median salary of $82,000 and women $80,000.
Other highlights from the ASCM report
- 95% of supply chain professionals kept their job through the pandemic
- The typical starting salary for a supply chain professional is $60,000
- 48% of supply chain professionals now work from home
- 88% of survey respondents find supply chain a fulfilling career path
But there is still work to be done in closing the divide in those over the age of 40. Older men are still earning far more than their female peers, with a discrepancy of between $12,000 and $23,000 annually. ASCM’s report does not definitively conclude why this disparity remains, but says women who began their careers several decades ago may have started out on lower salaries. They may also have missed out on steady wage increases and career development after taking time away from work to have and raise families.
It is also likely that the pay gap in over 40s is affected by a lack of women in executive leadership positions. A recent Gartner study found that, while women now represent 41% of the supply chain workforce - a five year high - only 15% of executive level positions are held by women. That figure is a decline of two per cent on 2020.
Supply chain’s racial pay gap remains
For the first time, ASCM’s annual survey also looked into the pay gap between ethnicities, finding that the median salary for black professionals was 12% less than their white peers, and Latinos earned on average 14% less. That represents a divide of between $9,000 and &10,000 in real terms. Asian professionals earned a median salary of $80,000, compared with the $83,000 for white professionals.
Abe Eshkenazi, the ASCM chief executive, said reporting on and acknowledging lingering wage disparity was not enough: “Supply chain organisations must lead the way by creating environment where diverse talent is valued, included and developed. The need for supply chain professionals has never been greater, so now is the time to expand the aperture to include diversity of thought, influence and input — particularly for women and people of colour.”
Read the full report: ASCM 2021 Supply Chain Salary and Career Report