DUBAI: Global GDP is projected to receive a $21 trillion boost if gender equality is achieved, as empowering women is deemed beneficial for business given that women constitute half of the population and consumer base, making their participation crucial for addressing half of the global markets, the Global Women’s Forum in Dubai (GWFD) highlighted.
According to Emirates News Agency, during a session on the second day of GWFD titled ‘Women in Sustainability: Leadership for Emerging Economies,’ Dr. Yasar Jarrar, Secretary General of the CSO Network, emphasized the need for collective efforts to expedite gender parity. He noted that it would take 105 years to achieve equality at the current pace. Dr. Jarrar pointed out the policy and infrastructure disparities between emerging markets and developed regions, stressing the urgency for action.
He stated, “Empowering women is good business; studies show that diverse boards outperform non-diverse ones by 20%. Women are half the population and consumers, making the
ir input essential for catering to half the market.” The CSO Network aims to establish a global network for women in emerging markets to facilitate connections and expedite progress.
Dr. Jarrar also noted, “The future is female. Women in the GCC are outperforming men in STEM (Science, Technology, Engineering, and Mathematics) education, with UAE and Saudi women scoring 45 points higher than men in the PISA (Program for International Student Assessment) tests by OECD. This performance gap suggests that women are better prepared for future jobs.” He acknowledged the deliberate policy changes in the UAE to empower women, which have resulted in significant representation in leadership roles and education, highlighting their increased capabilities and representation as vital for future economic and social success.
Samar Al Hameedi, Vice President of the Climate Change Division at ADNOC, proposed the creation of a global network of women in emerging markets to provide support and mentorship. She stated, “Showcase
more successful women leaders in sustainability to serve as role models. Ensure that workplaces and infrastructure are prepared to receive and support women, especially in traditionally male-dominated industries.”
Al Hameedi emphasized the role of Chief Sustainability Officers and the importance of collaboration in addressing issues such as talent and Sustainable Development Goals (SDGs). She called for more role models to inspire women and highlighted the current gender gap favoring women in mathematics and science in the GCC. She detailed ADNOC’s initiatives to develop future female talent and their commitment to gender balance, including being a signatory to the UN’s Women Empowerment Principles.
She further explained, “ADNOC’s efforts to empower women, including the Pathway 20 initiative, are aimed at developing female board directors.” She identified three main gaps hindering women’s progress: a lack of role models, enabling environments, and networks.