ENVIRONMENTAL & SOCIAL JUSTICE
Gender Parity... ...continued from page 21
force participation alone could boost some countries’ economic output by as much as 35% . Senior Leadership In 2022, women held 33.4% of global senior leadership roles across public and private sectors, marking a steady improvement on previous years and a silver lining for gender parity. The global share of women ministers nearly doubled from 2006 to 2022 and the global share of women in parliament rose from 14.9% in 2006 to 22.9% in 2022. Some industries where women have been historically underrepre- sented have been hiring women into leadership roles at an accelerated pace since 2016, including technology, energy and supply chain and transportation; however, this positive change is looking precarious as gains are being reversed in recent months with early data suggesting that tech lay-offs are affecting women disproportionately. In addition, women are leaving leadership positions at increasing rates, both in industry and politics. The challenge remains to not only create conditions in which women can advance into senior leadership roles, but where they can thrive in such roles. More diverse leadership across stakeholders is key to tackling the current crisis, as the diversity of perspectives has been shown to lead to more fact-based and, there- fore, higher-quality decision-making. Pay Equity Gender pay gaps remain one of the starkest markers of inequity in the current system. According to the 2022 Global Gender Gap Report, the global gender gap for estimated earned income was approximate- ly 49%, while it was 35% for wage equality for similar work. Across OECD countries, the pay gap stands at 13% for the median earnings of
with a disproportionate impact on women, people of colour, LGBTQI individuals and individuals with disabilities. For intersecting identi- ties across these dimensions, disadvantages are often compounded. At the start of 2023, we see continued and, in some cases, widening exclusion of women from full economic participation as employees, leaders, consumers and suppliers; long-term trends, including tech- nological change and climate change, look set to deepen gender gaps; and a lack of recognition of the value of unpaid work, as well as a high- ly unequal distribution of care work persist. While technology has seen breakthroughs at unprecedented speed in recent years, access re- mains highly uneven and innovation is not targeted to resolve today’s biggest challenges or serve all individuals. Achieving gender parity remains a formidable, multi-dimensional challenge. According to the 2022 Global Gender Gap Report , the two largest gaps remain in the realms of economic opportunity (with 60% of the global gender gap closed) and political empowerment (with only 22% of the gap closed). Where should we concentrate our collective efforts? Labour Force Participation The pandemic years saw significant drops in women’s labour force participation in every region of the world. In particular, women with care responsibilities were among those leaving the labour force and not returning. Global gender parity for labour force participation had been slowly declining since 2009. In 2022, it stood at 62.9%, the low - est level registered since the Global Gender Gap index was first com - piled in 2006. Yet, the IMF estimates that increased female labour
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22—PATHWAYS—Summer 23
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