On International Women’s Day, UN Women advocates for global investment in women as the most effective means to hasten economic development and establish fairer, more prosperous societies. This becomes increasingly imperative as ongoing wars and crises threaten to reverse the progress made in gender equality over decades.
Women bear the greatest burden in conflicts they did not initiate, evident in regions like the Middle East, Haiti, Sudan, Myanmar, Ukraine, Afghanistan, and beyond. The call for peace has never been more pressing. As climate change accelerates, persistent poverty gaps are widening. The competition for scarce resources is intensifying, threatening livelihoods and deepening societal divides.
Women are disproportionately affected, with 1 in 10 women worldwide living in extreme poverty. The number of women and girls in conflict-affected areas has doubled since 2017, now exceeding 614 million. In these regions, women are 7.7 times more likely to live in extreme poverty. By 2030, climate change is projected to leave an additional 236 million women and girls hungry, twice the number of men (131 million).
At the prime working age, only 61 percent of women are in the labor force, compared to 90 percent of men. The potential benefits of achieving gender equality are immense and must not be overlooked. By prioritizing areas like education, family planning, fair wages, and social benefits, governments could help lift over 100 million women and girls out of poverty.
Investments in care services, like daycare and elderly care, could create nearly 300 million jobs by 2035. Closing gender employment gaps could lead to a 20% increase in gross domestic product per capita worldwide. Despite these potential gains, current efforts fall short. Only 4% of official development assistance is dedicated to gender equality programs, while an additional USD 360 billion annually is needed in developing countries to achieve gender equality.
This amount is less than one fifth of the USD 2.2 trillion spent globally on military expenditure in 2022. Investment priorities are clear and well-understood. Foremost is the need for investing in peace. Additionally, investments should target laws and policies that promote the rights of women and girls, changing social norms that hinder gender equality, ensuring women’s access to land, property, healthcare, education, and decent work, and providing financial support to women’s groups and networks at all levels.
During the upcoming Commission on the Status of Women in New York starting on March 11, 2024, UN Women is urging Member States to support their commitments to gender equality with adequate resources. This presents a crucial opportunity for global leaders to develop specific and progressive agreements that underscore the critical importance of funding for gender equality, women’s empowerment, and women’s organizations. They must seize this opportunity for the advancement of equality, our planet, and the Sustainable Development Goals.
