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Equality Means Business

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1 Equality Means Business
Women’s Empowerment Principles Equality Means Business

2 Why Women’s Empowerment?
Equality between men and women is a fundamental human right Women’s Empowerment is a key driver of sustainable development Equality Means Business! 1) First and foremost, equality between men and women is a fundamental human right, contained in international human rights treaties. 2) Second, women’s empowerment is a critical driver of sustainable development. Empowering women to participate fully in economic life across all sectors and throughout all levels of economic activity is essential to: Build strong economies; Establish more stable and just societies; Improve quality of life for women, men, families and communities; Propel businesses’ operations and goals; and Achieve internationally-agreed goals for development, sustainability and human rights; For instance, the Food and Agriculture Organization of the United Nations estimates that if women had the same access to productive resources as men, they could increase yields on their farms by 20 to 30 percent. This increase could raise total agricultural output in developing countries by 2.5 to 4 percent and reduce the number of hungry people in the world by 12 to 17 percent, or up to 150 million people. 3) Last, but not least, equal treatment of women and men is not just the right thing to do – it is also good for business. The full participation of women in our enterprises and in the larger community makes sound business sense now and in the future. For example, the 2010 McKinsey white paper, “The Business of Empowering Women,” based on a global survey of 2,300 senior private sector executives, informs us that companies that are already focusing their efforts on women are reporting measurable business benefits. One-third surveyed said their investments in women have already resulted in greater profits and another third said their investments would soon show profit. Photo Credits: Arne Hoel/ The World Bank, Scott Wallace/ The World Bank

3 Women’s Empowerment Principles Overview
The Women’s Empowerment Principles (WEPs) is a joint initiative of UN Women and the UN Global Compact Launched on International Women’s Day 2010 following a year-long international, multi-stakeholder consultation process Elaborates the gender dimension of good corporate citizenship, the UN Global Compact, and business' role in sustainable development

4 Why the Women’s Empowerment Principles?
Provide a roadmap for business on how to empower women in the workplace, marketplace and community Help companies mainstream gender equality throughout business operations and other areas of corporate sustainability While there have been significant efforts to promote global gender equality and women’s empowerment, progress has been much slower than anticipated. Advancing and empowering women is too big an assignment for any single sector, be it government, international organizations or civil society. Providing a partnership platform to engage the private sector—the engine for jobs, innovation, capital creation and investment—is absolutely essential. To fill this need, the WEPs provide a road map for business on how to empower women in the workplace, marketplace and community. Further, the Principles help companies understand the gender dimension of other areas of corporate sustainability (for example environmental sustainability, supply-chains sustainability etc.)

5 The 7 Principles in Brief
Establish high-level corporate leadership for gender equality. Treat all women and men fairly at work – respect and support human rights and nondiscrimination. Ensure the health, safety and well-being of all women and men workers. Promote education, training and professional development for women. Implement enterprise development, supply chain and marketing practices that empower women. Promote equality through community initiatives and advocacy. Measure and publicly report on progress to achieve gender equality. Listed above are the Women’s Empowerment Principles in brief… The seven Principles are designed to help the private sector focus on key elements for promoting gender equality in the workplace, marketplace and community. As you can see, it is a broad framework covering topics like women in leadership, workplace policies, engaging women owned businesses in the supply chain and applying a gender lens to corporate community initiatives.

6 Gender Equality: Impacts on the Macro Economy
If female employment rates were to match male employment rates, overall net GDP would increase by… Macro-economic case Research shows direct linkages between investing in women’s employment and overall GDP growth. If female employment rates were to match male rates, overall GDP would increase by 5% in the US, 9% in Japan, 12% in the UAE and 34% in Egypt (just to name a few) (Booz & Company) The World Economic Forum Gender Gap Report shows that where the gender gap is smaller in a range of areas—including access to education, health survivability, economic participation, and political participation—countries and economies are more competitive and prosperous. The Economist points out that the increase in employment of women in developed countries, during the past decade, has added more to global growth than has the economic emergence of China. Source: Catalyst, 2011

7 Gender Equality: The Business Case
Companies with three or more women corporate directors outperformed those with no women on the board 84% Reported increases in 60% 46% Business Case: Women are the largest emerging market According to a Deloitte Study, the marketplace power of women is triple that of China and approximately 12 times that of India. Income for women in 2009 $13 trillion predicted to be $18 trillion by 2014 compared to China’s GDP $4.4 trillion in 2009 and $6.6 trillion in 2014 and India’s GDP $1.2 trillion in 2009 and $1.8 trillion Women control roughly US$20 trillion of total consumer spending globally and influence up to 80 percent of buying decisions Women board directors and women in senior leadership are connected with better financial performance. A 2011 Catalyst study of companies over the time period showed that companies with three or more women corporate directors (in at least four of the five years) outperformed those with no women on the board by 84% on return on sales (ROS), 60% on return on invested capital (ROIC) and 46% on  return on equity (ROE). Companies with sustained high representation of women—three or more women board directors in at least four of five years—significantly outperformed those with no women board directors. A 2014 study by Credit Suisse found that in Asia Pacific, companies that had 1 or more women on the board outperformed that had no women on the board by 55% excess cumulative return, in the US the outperformance was 20% and in Europe 18%. However there is a disconnect between the opportunity investing in women’s empowerment in the workplace, marketplace and community provides (from both a macro-economic and business perspective) and how companies are prioritizing gender equality: Another Deloitte study found: 72% of global senior executives agreed that there is a direct connection between gender diversity and business success, but only 28% says it’s a top priority for senior management. The overall percentage of women board directors in the 200 largest companies globally now stands at 15% -- an increase of only 1.2% since the 2011 (source: Corporate Women Directors International 2013 Report). In order for this percentage to change dramatically, the three countries with the most number of large companies in the Fortune ranking – U.S., Japan and China – must boost their appointments of women to board seats. Almost a quarter of these large companies -- 47, or 23.5% -- still have all-male Boards of Directors. The majority of these companies are based in Asia. Women are enrolled in BAs and Master’s degrees at higher rates than their male counterparts, yet the labor force participation rates are still unequal and women’s wages are still between 70-90% of men’s wages Gender inequality in wage differentials remains entrenched, with women typically earning 70%–90% less of the male wage (50% in Bangladesh and 80% in Mongolia). Source: ADB & ILO, Women and labor markets in Asia: Rebalancing for gender equality Where is the disconnect? Why the gap? Other statistics (if presenter is interested) Wage gap: •Only 30% of women in Asia and the Pacific are in non-agriculture wage employment, with only 20% in South Asia—the lowest among the world's regions. Sources: ADB, Paths to 2015 MDG Priorities in Asia and the Pacific; FAO, IFAD & ILO, Gender Dimensions of Agricultural and Rural Employment •In the East Asia and Pacific region, output per worker could be 7-18% higher if female entrepreneurs and workers were in the same sectors, types of jobs and activities as men, and had the same access to productive resources. Source: World Bank, Towards Gender Equality in East Asia and the Pacific: A Companion to the World Development Report, 2012 Return on Equity Return on Invested Capital Return on Sales Source: Catalyst, 2011

8 WEPs: A Platform for Action and Engagement
“Investing in women and girls has a multiplier effect on productivity and sustained economic growth.” - UN Secretary-General Ban Ki-moon “When you embrace these Principles, you join a great and gathering movement to unleash the power of women and change the world…By working together based on shared values, we can advance the common good.” Tailored for business, the WEPs provide a comprehensive approach to achieving gender equality. There are so many avenues to get involved!

9 CEO Statement of Support
We, business leaders from across the globe, express support for advancing equality between women and men to: Bring the broadest pool of talent to our endeavours; Further our companies’ competitiveness; Meet our corporate responsibility and sustainability commitments; Model behaviour within our companies that reflects the society we would like for our employees, fellow citizens and families; Encourage economic and social conditions that provide opportunities for women and men, girls and boys; and Foster sustainable development in the countries in which we operate. In an effort to bolster high-level corporate leadership for gender equality, in June 2010, the UN Women/UN Global Compact WEPs partnership launched a CEO Statement of Support for the Women’s Empowerment Principles. By signing the Statement, CEOs demonstrate leadership on gender equality and women’s empowerment and encourage fellow business leaders to do the same. The CEO Statement of Support encourages business leaders to use the seven Women’s Empowerment Principles as guide posts for actions that advance and empower women in the workplace, marketplace and community, and communicate progress through the use of sex-disaggregated data and other benchmarks. Signers underscore that equal treatment of women and men is not just the right thing to do — it is also good for business and needs to be a priority. The CEO statement of support is a: Mechanism for business leaders to signal their support for gender equality and specifically, the guidance offered by the WEPs.  Platform for corporate executives to encourage fellow business leaders to support women's empowerment and sign the CEO Statement.  Tool for businesses to engage with their employees and their communities to develop workplace, marketplace and community action around gender equality Signing does not constitute a binding obligation.  However, doing so is a great way to demonstrate the first Principle on leadership.

10 How to Engage in the WEPs
COMMIT Leadership commitment to mainstream gender equality throughout corporate sustainability and other relevant strategies and operations ASSESS Apply a gender lens when assessing risks, opportunities, and impacts DEFINE Apply a gender lens when defining goals, strategies, and policies, and metrics IMPLEMENT Implement gender equality strategies and policies throughout the business and across the value chain MEASURE Measure and monitor impacts and progress towards goals COMMUNICATE Communicate progress and strategies while engaging with stakeholders for continuous improvement Drawing on the UN Global Compact management model, here is a process for managing and reporting on implementation of the WEPs. Commit: Affirm high level support by signing the CEO Statement of Support demonstrating your company’s commitment to mainstreaming gender equality. Assess: Equipped with a commitment to the WEPs, apply a gender lens when assessing risks, opportunities, and impacts. Define: Using the 7 Principles as a reference point, apply a gender lens when defining goals, strategies, and policies, and metrics. Implement: Implement corporate sustainability strategies and policies through the business and across the value chain that respect women’s rights and support gender equality and women’s empowerment. Consult WEPs tools and resources and participate in WEPs engagement opportunities, including peer-learning events, to deepen implementation. Measure: Measure and monitor impacts and progress towards goals and targets. The use of sex-disaggregated data is critical to understanding progress made and areas needing improvement. Communicate: Report on progress and share forward-looking strategies with stakeholders through the company’s annual Communication on Progress (COP) submission to the UN Global Compact. WEPs signers that are not currently UN Global Compact participants are encouraged to connect with the WEPs Secretariat to learn how to join the UN Global Compact. WEPs companies may also wish to highlight their efforts to implement the WEPs on the UN Women-run Knowledge Gateway for Women’s Economic Empowerment. Spread the Word: Connect with fellow businesses and other stakeholders to raise awareness about the WEPs and promote their implementation. Share good practices and lessons learned with others. Support the WEPs initiative.

11 WEPs Signers To date, more than 800 CEOs representing a range of sectors have signed a CEO Statement of Support for the WEPs. To see the most recent list of signers please visit the searchable database on the WEPs website under CEO Statement/ Companies To search our company database please visit:

12 WEPs Signatories Around the World
19 Companies listed themselves as global As of 6 September, 2014 1- 4 No signatories 5 - 19 > 50 Number of Signatories Companies from around the world have joined the WEPs platform. To date, WEPs companies represent over 57 countries.

13 Making and Measuring Progress
Demonstrate Progress Gain Recognition Replicate Success Track Progress There is no official reporting requirement associated with the WEPs. However, Principle 7 underscores that accountability and transparency go hand-in-hand. Companies that have signed the CEO Statement of Support have explicitly stated their intention to measure and publicly report on their progress towards gender equality in their workplace, marketplace and community. This commitment can help: Track progress against commitments Identify gaps in existing policies and procedures to develop next steps for action Recognize high impact initiatives and practices for further replication Benchmark performance against competitors Demonstrate progress to key stakeholders (investors, NGOs, employees, unions, consumers governments) Gain public recognition for actions to promote gender equality In 2012, at the request of WEPs signers, the UN Global Compact and UN Women launched WEPs-specific reporting guidance, available on the WEPs website. The guidance offers practical advice on how to report on implementation of each of the seven Women’s Empowerment Principles. It provides general reporting approaches and specific examples of disclosures and performance indicators for each Principle. Importantly, the guidance aligns with established reporting frameworks that businesses use such as the Global Reporting Initiative (GRI) 3 and 4, and can be integrated into business’ UN Global Compact Communication on Progress (COP).    In an effort to help companies implement Principle 7 and report on gender, in 2014 the WEPs initiative integrated 4 questions into the UN Global Compact's Self-Assessment of the Annual Communication on Progress (COP). The questions, which are for all UN Global Compact participants that have signed the CEO Statement of Support for the WEPs, provide an opportunity for companies to transparently disclose their efforts around women’s empowerment and gender equality. Detect Gaps Benchmark

14 Participate in the Annual WEPs Event
2010 2011 2012 2013 Equality Means Business: Launch of the WEPs 40 Signatories 140 Participants Equality Means Business: Putting the Principles into Practice 181 Signatories 191 Participants Gender Equality for Sustainable Business 393 Signatories 193 Participants 2014 Inclusion: Strategy for Change 557 Signatories 328 Participants Gender Equality and the Global Jobs Challenge 695 Signatories 300 Participants UN Secretary General Ban Ki-moon Anne-Marie Slaughter, President, New America Foundation 2015 WEPs Annual Event 10-11 March 2015 2015 2009 Advancing Women in the Global Marketplace Held annually around International Women’s Day brings multi-stakeholders from around the global together to discuss pertinent issues for women’s empowerment. The 2015 WEPs Annual Event marks a decisive year for women’s empowerment. It is anticipated that Member States, the UN and international community will decide on a new set of Sustainable Development Goals (SDGs) that will steer the development agenda for the next 15 years. It is also the 20th Anniversary of the Beijing Declaration and Platform for Action – the 1995 comprehensive global framework for women’s empowerment. In this context, the WEPs Annual Event provides a strategic opportunity to leverage the guidance provided by the WEPs and momentum behind the initiative to provide private sector perspectives and spur business action to meet these future goals and targets. Learn more at:

15 Spread the Word Take Action Build the Consensus

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