Women and sustainable finance: fuel for the engine of COVID recovery
– COVID-19 has had a disproportionate impact on women-focused small and medium-sized enterprises (WSMEs).
– The Asia-Pacific region alone has over 50 million WSMEs, mostly in the micro, small and medium range that provide employment to over 100 million people. They form the backbone of the economy’s success.
– Investors are doubling down on inclusive growth and at the same time, businesses are building innovative pathways to COVID resilience for underserved women.
March 8th, 2020 – There is broad consensus on the need to intervene as a matter of urgency, in order to provide relief for women and underserved communities. However, governments and businesses have the opportunity to go one step beyond, and build the kind of resilience that will outlast any pandemic.
Across the Global South, COVID-19 has had a disproportionate impact on women-focused small and medium-sized enterprises (WSMEs). The unprecedented social and economic changes brought about by the COVID-19 pandemic have put an increased burden on women.
Many face disproportionate responsibilities at home, are experiencing increased unemployment rates and are struggling to maintain their businesses. To add insult to injury, they are being overlooked by COVID-response policies that may even exacerbate home-based violence.
The Asia-Pacific region alone has over 50 million WSMEs, mostly in the micro, small and medium range that provide employment to over 100 million people. They form the backbone of the economy’s success. Women can power the engine for recovery if we step up. Enter sustainable finance.
Sustainable finance: a movement whose time has come
The pandemic-driven surge in social bonds has proven that investors are doubling down on inclusive growth. 2020 represented key milestones in the sustainable finance market – with social and sustainability bond issuances surpassing green bonds for the first time in April 2020.
Written by World Economic Forum
Photo: Business People
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