Economic Challenger Issue 76 July- Sept 2017 | Page 5

ACCELERATING GENDER PARITY: A BIG CHALLENGE Dr. Manju Kalra Prakash | Senior Consultant, Ministry of Women & Child Development, CRMK, Cell : + 91 9811116846, E-mail : [email protected], [email protected] T he paradigm shift f rom women's development to women's empowerment ensures that the benefits of development from different sectors do not bypass women. The 2030 Agenda for Sustainable Development of United Nations of October 2015, aims at transforming our world by achieving gender equality and empowerment of women and girls as one of its pillars. It has been hailed as a critical driver of economic growth and a pre-condition for alleviating poverty and the foundation for ensuring every child to have a sustainable future. It is now also widely recognized by Governments and businesses the world over as important in its right as also essential for human progress and business success. More than 1000 business leaders representing some of the largest companies from around the world have committed and signed the women's empowerment principles to promote gender equality. Till 2016, these companies had invested more than the US $ 350 millio n in women's economic empowerment programs. There are seven principles for businesses - on how to empower women in the workplace, marketplace, and community: i. Establish high-level corporate leadership for gender equality. ii. Treat all women and men fairly at work – respect and support human rights and nondiscrimination. iii. Ensure the health, safety, and well-being of all women and men workers. Economic Challenger// ISSN 0975-1351/ July-September 2017 iv. Pro m ote e d u c at i o n , t ra i n i n g a n d professional development for women. v. Implement enterprise development, supply chain and marketing practices that empower women. vi. Promote equality through community initiatives and advocacy. vii. Measures taken and publicly report on progress to achieve gender equality. Much progress remains to be made. Women and men are far from being equal in most societies. Absence of women in leadership roles as also gender pay gaps can be seen across levels in many industries. Women also face legal and cultural barriers in owning land, opening a bank account and accessing products and services that could improve their health and well-being and that of their family. A holistic and integrated approach is needed – although many companies actively are promoting women's economic empowerment, the majority are still trying to figure out the most efficient method to do so and are working through isolated programs and investments which have led to some incremental improvements for women - as well as benefits to business. Gender parity has overall benefits for the society, economic benefit, etc. The most difficult thing is a decision to act. Different studies over the last 3-4 years undertaken by Credit Suisse, Catalyst, McKinsey Global Institutes etc. have thrown up the following data: Accelerating Gender Parity 3