Empowering women is imperative to the global community and economy if we want to achieve the United Nations Sustainable Development Goals (UN SDGs) by 2030. Time and time again, it has been proven that investing in women and empowering women-focused enterprises is the key to achieving sustainable development. Although organizations and companies in both the private and public sectors as well as governments are taking active steps to improve the financial inclusion of women, we are very far from the finish line. Women continue to be the majority of unbanked adults (56%), women also continue to earn less on average than men even in developed countries and women-led enterprises receive less funding than those led by their male counterparts. The global COVID-19 pandemic has furthered this gap and affected women, especially those from developing countries in a disproportionate manner.
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Applying a diverse gender lens to philanthropy and investing offers a critical solution to achieving equality, but impact washing is dampening its effect.
At our current rate of progress, it will take 132 years to close the global gender gap, which means we will be halfway through the 22nd century before we experience an equal society.
The World Economic Forum’s 2022 Global Gender Gap Report also found that despite more substantial improvements made in areas of health, survival and education, closing the gap in economic participation and opportunity is still significantly out of reach for many women across the world.
In celebration of International Women’s Day, Reuters Events are proud to announce our 2023 line-up of women working to change the world of finance to better serve people and planet, inspiring the next generation of female leaders.
When it comes to high-level discussions on climate, studies show that women are significantly less likely than men to get a seat at the table.*
Occupying a marginalised position in the world of governance, women often shoulder the burden of climate inaction more than their male counterparts in society, with research indicating that climate disasters disproportionately affect female populations by acting as a ‘threat multiplier’ for existing gender-specific vulnerabilities.**
On International Women’s Day, at illuminem we are proud to celebrate 100 inspiring female leaders who promote sustainability and the fight against climate change across the world.
Our editorial list is composed of 5 honorable mentions, each making a difference in a special way:
- Thought Leaders
- Future Thought Leaders
- Policymakers
- Activists & Advocates
- Social Media Top Voices
Please help us congratulate our great female Leaders! Please join us to celebrate all women!
With an aim of employing 50,000 women doctors and healthcare workers by 2030, Sehat Kahani democratizes medical care by providing access to affordable telemedicine solutions and connecting the untapped pool of female Pakistan Medical & Dental Council (PMDC) certified doctors to underserved patients.
Image source: www.sehatkahani.com
Supporting initiatives like Impact Investment Exchange’s (IIX) Women’s Livelihood Bond (WLB) series – including the recently released ‘orange bond’ – is about more than using capital in a socially-responsible manner, according to ANZ MD, Institutional Australia & PNG, Tammy Medard. It’s also just good business.
Shearman & Sterling provided pro bono legal representation to the Impact Investment Exchange (IIX) for the Women’s Livelihood Bond™ 5 (WLB5), the fifth bond in the IIX Women’s Livelihood Bond Series™ (WLB Series). The transaction raised $50 million and is the first sustainable debt issuance that aligns with the Orange Bond Principles, a set of guidelines developed by a coalition of impact investors and other market participants led by IIX to promote gender-lens investing.
The WLB5 uses a blended capital structure to pool together a portfolio of high-impact enterprises that promote gender equality across multiple countries and sectors. It aims to empower 300,000 women and girls across Asia and Africa by building economic resilience and advancing climate action. The WLB5 also has a “green” aspect, with a portion of the proceeds allocated to empowering women to advance climate action. To date, the WLB Series has mobilized $128 million and has met or exceeded all its impact targets, collectively empowering 1.3 million women and girls from emerging markets in Asia and Africa.
In a recent visit to the Philippines, Vice President Kamala Harris spoke of the returns generated by investing in women. “You lift up the economic status of a woman, her family will be lifted, her community will be lifted… Lift up the economic status of women, and all of society benefits,” she said. The multiplier effect of investing in women is well-established and underscores why DFC’s 2X Women’s Initiative is a key part of the agency’s work with the private sector to advance global development.
Singapore’s IIX closes the latest in its Women’s Livelihood Bonds series which invest in high-impact enterprises focused on advancing gender equality.
Singapore-based Impact Investment Exchange (IIX) has raised US$50m for its fifth Women’s Livelihood Bond, set to improve the livelihoods of 300,000 women and girls in Asia and Africa.
ImpactAlpha, December 14 – Singapore-based IIX has raised $50 million for the fifth bond in its Women’s Livelihood Bond series. The bond will support 300,000 low-income women and girls in Asia and Africa. The bond is the first in the series to finance women-centric initiatives outside of Asia.
It is also the first designated under the Orange Bond Principles, which IIX spearheaded to shift capital in the $130 trillion global bond market to support women and girls. (Orange is the color used for Sustainable Development Goal No. 5, achieving gender equality.) The bond “will set the momentum for many Orange Bond transactions to come in the near future, making it a game changer for the sustainable financing market,” said Stephen Liberatore of Nuveen, an investor in the bond.
IIX is a pioneer of gender-focused listed bonds, launching its first Women’s Livelihood Bond in 2017. It raised $8 million.
The impact investment firm closed its fourth bond in the series, which invests in women’s climate resilience, earlier this year.
A portion of the fifth bond’s proceeds will also be used to “empower women to advance climate action,” the firm said.