Working with companies to help women invest | Co-founder, Sophia | Board Director | Gender Equity Champion | Impact Investor
If you needed a reminder that improving the economic outcomes for women was important, this is it. The latest report from the The World Bank found that there is no (as in zero) country in the world which afforded women the same opportunities as men in the workforce. According to the report, the global gender gap is much wider than previously thought, yet closing this gender gap could raise global gross domestic product by more than 20%. ⚖️ 95 countries enacted laws on equal pay, but only 35 has measures in place to ensure the pay gap was addressed. ⚖️ If the childcare gap was addressed, this immediately leads to a 1% increase in women’s participation in the labor force. ⚖️ Women’s pensions need massive reform as well. In 81 countries, a women’s pension benefits do not account for periods of work absences related to childcare. ⚖️ 151 countries have laws against sexual harassment in the workplace but only 40 had laws covering abuse in public areas or in public transport. So women are unprotected on their way to work. There’s so much work to do to create just societies which also benefit women. We need both bottoms-up solutions tackling mindsets, stereotypes and attitudes which hold women back from economic empowerment. There’s also a massive need for top-down solutions to re create more inclusive structures and policies that mean women can have the opportunities to create wealth, have childcare support and lead safer, better lives. This is why #internationalwomensday has to be every day. There is so much work to be done. Let’s bring all this positive energy towards women’s economic and societal outcomes that we’ve all agreed was important this month, and keep doing something about it every single day💪🏽. #womenandmoney #gendergap #genderinvestinggap #moneyispower
Manager, Strategy & Transactions @ EY-Parthenon
7moHear! Hear!