Background More Women Leaders Better Corporate Social Responsibility Better corporate social responsibility increases women in the workplace therefore increase opportunity for women leadership More women leaders, better economy and better society
What is CSR? Definitions Responsibility is the choice we make to respond with care CSR is the way in which business consistently creates shared value in society through: –economic development –good governance –stakeholder responsiveness and –environmental improvement. CSR is an integrated, systemic approach by business that builds, rather than erodes or destroys, economic, social, human and natural capital
What is CSR? “CSR should be more about the process of wealth creation, and ultimately eliminating the need for donations” When talking about CSR we DO NOT mean: Charity Philanthropy
Efficient use of resources Minimal negative impact on environment Sustainable investments Community development Supply chain, local suppliers Product responsibility Customer care Diversity Equality Fairness WorkplaceMarketplace Environmen t Community What is CSR?
Unequal male & female labor force participation – Largest gap in comparison to every other region Diversity - Current Situation
McKinsey conducted a series of studies examining whether greater gender diversity correlates with better economic performance. Study 1 - Women’s positive impact on financial performance 89 listed companies* with highest level of gender diversity in top management posts were selected & compared to average of their sectors On average, these companies with higher ratio of women in top management experience better financial performance Companies with more than two women present on board outperform others in their sector: o return on equity (11.4% versus 10.3%) o stock price growth (64% versus 47% from ) o operating result (11.1% versus 5.8% in earnings before interest & taxes) Women Matter, McKinsey & Company, * Companies were selected from all European listed with stock market capitalisation of over €150 million on following criteria: i. number & proportion of women on executive committee, ii. their function (eg. CEO or CFO had greater weight than Communications Manager), iii. Presence of more than 2 women on board Value of gender diversity – Financial Performance
Firms with best record of promoting women to high positions are more profitable than their peers: Returns on assets 18% higher than industry median Returns on investment 69% higher than industry median Women on Boards: Not Just the Right Thing… But the Bright Thing. The Conference Board of Canada, May 2002 Value of gender diversity – Financial Performance
Value of gender diversity
How many female board of directors do we have? 8 in listed companies No data with respect to SME’s and other informal businesses
More Women Leaders Better everything...
More Women Leaders Better Corporate Social Responsibility Stereotyping.. Women are better at CSR than men? Through CSR tools such as increasing diversity in the workplace increase women leadership Through Corporate Governance increase diversity in decision making roles increase women leadership Through sustainability have better organizations with balanced gender and skills with the right people in the right place.. Often increasing women leadership
Thank you.. For more information please contact: Maali Qasem