It is difficult to find a more appropriate word to talk about the main global challenges and priorities than inclusion, the theme of this year’s International Women’s Day. Inclusive and sustainable economic growth is key to prosperity, social cohesion, competitiveness and geopolitical stability. It is essential to promote a just transition, which includes the entire society so that climate action and digital transformation lead to a better world.
Gender equality and rights are not only a matter of justice, but also a matter of economic rationality. A study by the International Monetary Fund indicates that eliminating the gender gap could increase the GDP of emerging and developing economies by an average of 23%.
Diversity and equal representation of women in the economy, in decision-making and in political debate leads to better results. Using all the talent, we maximize productivity and competitiveness, contributing to addressing climate change and promoting global prosperity. This is especially relevant at a time when the combined effects of climate change, the pandemic and the war in Ukraine threaten to reverse many of the achievements we thought were guaranteed.
This year, in which 4 billion people around the world will go to the polls, it is key to remember the great positive impact that gender equality has on our societies. A study by the European Investment Bank shows that companies run by women achieve better environmental, social and governance results. The IMF also finds that these companies are more profitable, and that a greater gender balance on bank boards of directors is associated with greater financial stability and better results. The great challenges of our time cannot be addressed without inclusion.
The progress is evident. The number of women entrepreneurs is growing, despite the fact that they have less access to financing.
A study by the European Bank for Reconstruction and Development concludes that blended financing programs can help women entrepreneurs obtain more credit and expand their businesses.
Women currently control 40% of the world’s wealth and show more interest in sustainable investments.
Over many centuries, women have developed strategies to confront situations of inequality. This makes them provide especially important value for the transformation of organizations and the promotion of reforms. Given our historical experience, we are more likely to recognize the need to adopt changes and consider more broadly the impact of activities or policies on others. In this same sense, countries with greater female representation in Parliament are more likely to ratify environmental treaties and adopt policies that address climate change.
Women’s talent is a driving force for economic progress and the fight against climate change. Women now run some of the most influential financial organizations in the world and play an increasingly important role in politics. We have a unique opportunity to lead the change towards a more inclusive and sustainable growth model, to foster inclusion, inspire commitment and build a better future.
