Investing in Women: Inspiring Inclusion and Financial Equity on International Women’s Day (and every day)

As we celebrate International Women’s Day, it’s crucial to reflect on the theme of investing in women and the imperative of inspiring inclusion and financial equity. This year, the theme resonates deeply with the essence of progress, empowerment, and the recognition of the invaluable contributions of women across the globe.

It is frightening to think that Globally not only are we not on track to achieve gender equality in this decade, based on a 2022 study by UN Women we are not even close to reaching it this century, it is likely to take nearly 300 years at the current rate of progress.

Drawing inspiration from the ancient wisdom of our namesake the goddess Metis, who embodies intelligence and strategy, I want to look at how investing in women not only fosters inclusive growth but also drives financial equity in society, something we strive for in Metis Ireland by investing in our team and encouraging financial literacy and confidence in our community.

Investing in Women:

Just as Metis guided Zeus with her wisdom, women today offer valuable insights across all aspects of life. Investing in women means tapping into this potential to foster innovation, productivity, and sustainable development.

Investing in women is necessary for advancement of society. Women constitute half of the world’s population, yet they face systemic barriers that limit their opportunities for economic participation and growth. By investing in women, we unlock a vast pool of talent, creativity, and entrepreneurial spirit that propels economies forward.

UN Women have shown that increasing women’s and girls’ educational attainment contributes to women’s economic empowerment and more inclusive, environmentally sustainable economic growth. Education, upskilling, and re-skilling—especially to keep pace with rapid technological transformations affecting jobs—are critical for women’s and girls’ health and wellbeing, as well as their income-generation opportunities and participation in the formal labour market. And when more women work, economies grow. Women’s economic empowerment increases economic diversification and income equality for shared prosperity. It is estimated that closing the gender gap could give the global economy a USD 7 trillion boost.

Inspiring Inclusion:

Metis, representing intelligence, emphasises the necessity of diverse perspectives for success. Women’s unique insights enrich decision-making and drive better outcomes. Embracing diversity isn’t just morally right; it’s a savvy business strategy that boosts innovation, resilience, and competitiveness.

True progress is impossible without inclusion. International Women’s Day serves as a reminder of the ongoing struggle for gender equality and the need to create inclusive environments where all individuals, regardless of gender, have equal opportunities to thrive. Inspiring inclusion means dismantling barriers, challenging stereotypes, and fostering environments where women feel empowered to lead, create, and excel.

In their 2023 annual Demographic Analysis Report which highlights gender diversity at senior levels in Ireland’s regulated financial services sector, the Central Bank of Ireland have reported that female applicants for board level roles is 31% (up from 29% in 2022), senior management level roles is 33% (down from 35% in 2022), and sole trader/partner level roles is at 25% (decrease from 28% in 2022). Interestingly, my own CBI approved roles as Head of Compliance (54% male, 46% female) and Head of AML and CTF (56% male, 44% female) are among some of the most gender equal roles reported.

Financial Equity:

Metis’s strategic wisdom underscores the importance of fair resource distribution. Like her counsel to Zeus, women today influence economic policies, investment decisions, and workplace equality. Achieving financial equity demands actions like transparent pay, gender-responsive budgeting, and support for women-owned businesses.

Financial equity is at the heart of gender equality. I have previously written about the pension gap and financial disparity in 2023 and 2022, women continue to face disparities in wages, access to capital, and financial resources, limiting their ability to achieve economic independence and security. By investing in women’s education, entrepreneurship, and leadership, we can bridge these gaps and create a more equitable society.

According to the 2023 OECD report Gender, Education and Skills: The Persistence of Gender Gaps in Education and Skills women’s labour-force participation rates have moved closer to men’s over the past few decades, but in every country, women are still less likely than men to engage in paid work. When women do work, they are more likely to work part time, are less likely to become managers, less likely to be entrepreneurs and earn less than men. The median full-time female worker earns just under 15% less than her male counterpart, on average across OECD countries – a rate that has barely moved in recent years. Women are also under-represented in private-sector management and in politics, holding, on average, fewer than one-third of lower-house seats in national legislatures in OECD countries. On the whole, however, gender gaps are more prominent in private-sector employment and entrepreneurship.

On this International Women’s Day, let us commit to investing in women, inspiring inclusion, and advancing financial equity. By harnessing the talents and potential of women, we not only create a more prosperous and just society but also unlock new pathways to innovation and growth. Together, let us work towards a future where every woman has the opportunity to fulfil her potential and contribute her unique gifts to the world. Let’s let women be like Metis.

Sinéad Clinton Caldas

Head of Compliance