The United Nations Women’s Peace and Humanitarian Fund launched the Invest In Women Global Campaign to empower frontline women’s groups globally.
International Women’s Day 2024 focuses on “Invest in Women: Accelerate Progress,” showcasing the growing influence of women in investments, with 67 percent now involved beyond retirement accounts.
The article highlights five key areas for collective action: gender equality, poverty alleviation, gender-responsive financing, transitioning to a sustainable economy, and supporting feminist organizations combating women’s poverty and inequality.
The United Nations Women’s Peace and Humanitarian Fund (WPHF) has launched its Invest In Women Global Campaign to accelerate support, amplify the voices, unlock the power, and scale up the impact of frontline women’s civil society groups in the face of a rapidly evolving world.
This year the theme for International Women’s Day 2024 is Invest in Women: Accelerate Progress. International Women’s Day is celebrated annually on the 8th of March globally.
Over the past few decades, women have significantly transformed the investment landscape. Despite the investment industry’s traditional focus on male investors, women’s wealth is on the rise, accompanied by an expanding presence in investing.
The surge in the number of women investors is evident. According to a 2021 Fidelity study, 67 percent of women are now engaged in investments beyond their retirement accounts. This marks a substantial increase from the 44 percent recorded in 2018.
These statistics gain significance in the context of the widened gender gap resulting from the pandemic. The COVID-19 crisis disproportionately affected women, leading to a global loss of 4.2 percent of women’s employment, compared to 3 percent for men, as highlighted in a 2021 report by the International Labour Organization.
Here are the five crucial areas through collaborative efforts to ensure women are not left behind:
Investing in Women: A Human Rights Imperative
Urgency is paramount. Achieving gender equality stands as the most significant challenge to human rights. Allocating resources to women is not just a necessity but a fundamental requirement for constructing inclusive societies. The advancement of women benefits society as a whole.
The combined impact of the COVID pandemic, geopolitical conflicts, climate crises, and economic upheavals has forced an additional 75 million people into severe poverty since 2020. Without immediate action, this could result in over 342 million women and girls living below the poverty line by 2030.
Implementing Gender-Responsive Financing
Owing to conflicts and escalating fuel and food costs, recent projections indicate that 75 percent of countries will curtail public spending by 2025. Austerity measures disproportionately affect women and hinder public expenditure on vital services and social protection.
Transitioning to a Sustainable Economy and Care Society
The existing economic framework intensifies poverty, inequality, and environmental harm, particularly impacting women and marginalized communities. Advocates for alternative economic models propose a shift towards a sustainable economy and care society that amplifies the voices of women.
Supporting Feminist Change-Makers
Despite leading initiatives to combat women’s poverty and inequality, feminist organizations struggle with inadequate support, receiving a meager 0.13 percent of total official development assistance.