TheCable

Ban Ki-moon, UN secretary-general, has announced the first-ever high-level Panel on women’s economic empowerment in line with the sustainable development goals (SDGs).

The panel was set up to provide thought leadership and mobilise concrete actions aimed at closing economic gender gaps that persist around the world.

According to the announcement made in Davos, the panel will provide recommendations for the implementation of the 2030 agenda for sustainable development to improve economic outcomes for women and promote women’s leadership in driving sustainable and inclusive, environmentally sensitive economic growth.

It will provide recommendations for key actions that can be taken by governments, the private sector, the UN system and other stakeholders, as well as policy directives needed to achieve the new targets and indicators in the SDGs.

The panel is backed by the United Kingdom, the World Bank Group and UN Women.

According to the secretary general, “the empowerment of the world’s women is a global imperative”.

“Yet despite important progress in promoting gender equality, there remains an urgent need to address structural barriers to women’s economic empowerment and full inclusion in economic activity.

“If the world is to achieve the Sustainable Development Goals, we need a quantum leap in women’s economic empowerment.”

The co-chairs of the panel are Luis Guillermo Solis, President of Costa Rica, and Simona Scarpaleggia, CEO of IKEA Switzerland.

They will be joined by the leaders of the International Monetary Fund, World Bank Group, UN Women and a diverse range of eminent gender and equality actors, economics experts, academics, trade union leaders, business and government representatives from all regions.

Jim Yong Kim, World Bank Group president, also a founding member of the panel, said “the World Bank Group is strongly committed to gender equality, which is integral to ending poverty and boosting shared prosperity.

“Our new Gender Equality Strategy puts a much sharper focus on economic empowerment. No society, community or economy can achieve its full potential—or meet the escalating challenges of the 21st century—until all its people can achieve theirs.

“We are pleased to partner with the UK’s Department for International Development and the United Nations in convening this important panel, whose work will accelerate progress towards the goals we share.”

Research shows that women invest their income back into their families and communities, including in health and education.

McKinsey Global Institute estimates that if women in every country were to play an identical role to men in markets, as much as US$28 trillion would be added to the global economy by 2025.

The High-Level Panel will have its inaugural meeting during the 60th session of the Commission on the Status of Women at the United Nations in March 2016.