Claire Manuel reports on how companies like Mondelez, Marks & Spencer and Walmart are sharing knowledge on how to unleash the power of women throughout their businesses
While many companies are looking to address gender equality in their own operations, far fewer are looking at how they can boost the economic prospects of women in their supply chains, despite the fact that by doing so they could have a far bigger impact.
McKinsey Global Institute estimated in 2015 that if women were to participate in the economy identically to men, they could add as much as $28trn to global annual gross domestic product by 2025¸ roughly equivalent to the size of the combined Chinese and US economies.
It identified the creation of economic opportunities for women as a key intervention required to bridge the gender gap, and called for the private sector to play a more active role, in concert with governments and NGOs.
The coalition is focused on highlighting the potential commercial benefits of promoting women in their supply chains
At the end of last year, the University of Oxford heeded the call by getting together with nine of the world’s largest companies to formalize the Global Business Coalition for Women’s Economic Empowerment (GBCforWEE). The members of the group, who have been meeting since 2014, share knowledge and best practice, with the aim of finding out how...