Women and girls represent half of the world’s population and therefore also half of its potential. But gender inequality persists everywhere and stagnates social progress.
Investing in women’s empowerment provides the critical leverage required to advance gender equality, poverty eradication and inclusive economic growth.
As employer, financier, financial services provider and participant in the broader economic, political and social ecosystem, banks have tremendous power to influence gender equality and women’s empowerment.
For this reason, the United Nations Environment Programme Finance Initiative (UNEP FI) launched during its 2024 Global Roundtable, guidance co-authored with UN Women on Advancing Gender Equality and Women’s Empowerment: Target Setting Guidance for Banks.
In line with the commitment banks have made by signing the Principles for Responsible Banking (PRB) – the world’s foremost sustainable banking framework through which more than 50% of the global banking sector works to build a more sustainable future – this new work is designed to support the significant role banks have in closing the gender gap. It provides clear, actionable steps for banks to prioritise women’s empowerment in the workplace, marketplace and community.
Through the inclusion of a holistic framework for action, metrics to track progress, checklists, indicators and case studies, the guidance aims to enable banks to:
- Prioritise women’s empowerment as a cornerstone of and pathway to gender equality
- Establish a holistic understanding of the ways banks can advance gender equality and women’s empowerment across its value chain
- Act as advocates for gender equality, accelerating the alignment of financial flows with SDG 5, setting new standards within the financial industry
More specifically, the guidance shares how banks – using their workplace policies and practices, business strategies and portfolios, as well as financial products and services – can foster healthy and prosperous societies for all.
When banks align financing with gender equality objectives, they create more inclusive and healthy economies and better position themselves to more resilient and to tap into new markets, customer segments and previously unmet demand – to the betterment of people of all genders. Banks that foster a gender-responsive work environment can also benefit from higher employee retention rates and reduced costs associated with staff turnover or attrition. Download the guidance here.
Download Repository Documents here: