The United Nations Global Compact is a leadership platform for the development, implementation and disclosure of responsible corporate practices.
In its bid to call on companies everywhere to align their operations and strategies with the ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals; the UN Global Compact reached out to 34 stock exchanges around the world in celebration of the International Women’s Day (8 March) in a global “Ring the Bell for Gender Equality.
“Ring the Bell for Gender Equality” is a partnership of the UN Global Compact, together with UN Women, the Sustainable Stock Exchanges Initiative, IFC, Women in ETFs and the World Federation of Stock Exchanges, to raise awareness about the opportunities for the private sector to advance gender equality and sustainable development.
The aim of the event was to emphasize how the UN Global Compact is prompting businesses to advance gender equality by taking an integrated approach to unlocking the power of women in business and society.
At the event, participants were able to recognize the Women’s Empowerment Principles (WEPs), a joint initiative between the UN Global Compact and UN Women, which acts as an integrated approach to invoke transformative change. The WEPs provide a framework for businesses to advance women’s empowerment and elaborate the gender dimension of corporate sustainability.
To date, over 1,100 business leaders from 80 countries have endorsed the WEPs, signalling their support for equality between men and women and the guidance provided by the Principles.
Discourse on how business can scale-up action to unleash the full potential of women and girls are still on-going.