Governance

Women’s Day 2024: Investing in women most effective way to accelerate growth, says UN Women

1 in every 10 women globally lives in extreme poverty; war & crisis eroding decades of progress in gender equality

 
By DTE Staff
Published: Friday 08 March 2024
Photo: @UNOPSSouthSudan / X (formerly Twitter)

On International Women’s Day, United Nations Women emphasised investing in women to accelerate growth as the most effective strategy for fostering economic growth and cultivating more equitable societies. Shockingly, one in ten women globally lives in extreme poverty, it pointed out.

The UN entity called for attention to challenges eroding decades of progress in gender equality due to conflicts and crises worldwide. Women disproportionately bear the consequences of conflicts, with war-torn regions such as West Asia (also known as Middle East), Haiti, Sudan, Myanmar, Ukraine, Afghanistan and others witnessing the greatest toll on women, said UN Women in a statement. 


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“Women pay the biggest price for conflicts that are not of their making. The need for peace has never been more urgent,” it said. 

The impact of climate change further exacerbates poverty gaps, posing threats to livelihoods, escalating societal polarisation and placing an increasing burden on women, it added. Since 2017, the count of women and girls residing in regions affected by conflict has multiplied, surpassing 614 million at present. Within conflict zones, women face a staggering 7.7 times higher likelihood of experiencing extreme poverty, it further said.

“Climate change is set to leave 236 million more women and girls hungry by 2030, twice as many as men (131 million) and at prime working age, only 61 per cent of women are in the labour force versus 90 per cent of men,” the statement added.

We cannot continue to miss out on the gender-equality dividend, the UN entity said. By prioritising education, family planning, fair wages, and expanded social benefits, governments could lift over 100 million women and girls out of poverty.

Investing in care services, such as daycare and elderly care, could generate nearly 300 million jobs by 2035, while closing gender employment gaps could boost gross domestic product per capita by 20 per cent across all regions.


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However, the current reality falls short. Only 4 per cent of official development assistance is allocated to gender equality programs. An additional $360 billion annually in developing countries is necessary to achieve gender equality and women's empowerment, a fraction of the $2.2 trillion spent globally on military expenditure in 2022.

UN women said:

The areas needing investment are clear and understood. First and foremost there must be an investment in peace. Beyond this, the investments needed include: Laws and policies that advance the rights of women and girls; transformation of social norms that pose barriers to gender equality; guaranteeing women’s access to land, property, health care, education, and decent work; and financing women’s groups networks at all levels. 

As the Commission on the Status of Women convenes in New York on March 11, 2024, UN Women called on member states to align their commitments on gender equality with tangible resources. World leaders have a crucial opportunity to develop concrete and progressive agreements that underscore the vital need for financing gender equality, women's empowerment, and women's organisations, it pointed out.

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