18 Nov 2016
Susan McDade, Deputy Director, Latin America and the Caribbean, UNDP
Companies committed to women’s active participation achieve greater efficiency and better personnel performance, have more committed employees, and improve hiring and their public image. Photo: James A. Rodríguez/MiMundo.org
The 2030 Agenda gives us a road map to build the world we want, leaving no one behind. Gender equality is crucial to attaining the Sustainable Development Goals (SDGs), as well as a fundamental human right driving progress for all the other goals. Empowering women and girls has a multiplier effect and that contributes to promoting economic growth and development around the world.
In partnership with the private sector and governments, we must work together to close gender gaps and eliminate structural barriers that impede women’s empowerment.
There have already been some extraordinary advances. However, we still have a long way to go. Despite the increasing number of women engaging in paid work, on average, they earn 24 percent less than men. Women are also less likely to have access to decent work, property and formal credit.
Labour force participation is also lower for women than for men. In 2015, 72 percent of working-age (15 and older) men were employed, compared with only 47 percent of women. Globally, women hold only 22 percent of senior leadership positions, and 32 percent of businesses have no female senior managers.
The situation in Latin America and the Caribbean is not far from this reality. Women do 75 percent of the unpaid domestic work. Five of every 10 women are out of the labour market, and 54 percent work in informal environments, with fragile incomes and little social protection. Furthermore, among 72 large companies in the region, three have a woman as CEO or president; that’s just 4.2 percent.
In this context, the private sector has a fundamental role to play in eliminating gender inequalities and fostering sustainable development. By implementing gender equality standards within their own companies, the private sector can ensure equal opportunities for women, create inclusive work environments and help achieve the Sustainable Development Goals focused on gender equality (Goal 5), decent work and economic growth (Goal 8), and reduced inequalities (Goal 10).