This survey shows that female representation in boards and management groups of large energy companies in Germany, Spain and Sweden is far from being gender-equal. Of the 464 companies surveyed, 295 (64%) had no women at all in boards or management groups and only 5% could be considered gender-equal by having 40% or more women in such positions. Interviews with energy companies confirmed current trends that gender equality efforts within decision-making in business are weak or non-existent. The findings are discussed against the background of differences in risk perceptions among women and men, evidence of women's impact on boards and companies' performance and the substantial risks related to unabated climate change. Research is suggested for exploring potential impacts on energy companies' performance with more women in the boards when it comes to mitigation activities. (C) 2010 Elsevier Ltd. All rights reserved.