8 March 2017 12:00 am
But International Women’s Day is also a time to recommit ourselves to tackling the barriers to full
The priority theme of the 61st session on the Commission on the Status of Women later this month is ‘Women’s Economic Empowerment in the Changing World of Work’.
Globally, women continue to earn less than men; are more likely to work in low-skilled jobs; have less assets; and are more likely to be burdened with an unfair proportion of unpaid work, family and household responsibilities.These and other factors exclude women from making critical financial decisions at household, local, national and international levels.
Yet gender inequality has an adverse impact on economic growth. So investing in women’s economic empowerment is both the right and smart thing to do. According to the McKinsey Global Institute, advancing gender equality could lead to US$28 trillion a year in global growth.And when you consider that women typically invest 90 per cent of their income back into their families and their welfare, the social development impact of promoting gender equality is significant.
The Australian Government recognises that women’s economic empowerment is a significant driver of economic growth and prosperity. This is why promoting women’s economic empowerment is a core priority for us, integrated across Australia’s foreign policy advocacy, trade negotiations, economic diplomacy and aid investments.
Australian Foreign Minister Julie Bishop has also stressed the importance of engaging with the private sector in all aspects of delivery of Australian aid. This is because the private sector is a driver of growth, of incomes and jobs.The challenge is to ensure that the growth is inclusive and creates opportunities for all.
During the last year, we have worked on a range of programmes to deliver on this agenda. The Monash University Business School has partnered with the Sri Lanka Institute of Development Administration to produce a toolkit for women entrepreneurs to enable them to write their own business and development plans. The University of Adelaide has collaborated with the Women’s Media Collective and other civil society representatives to quantify the financial contribution of unpaid work to the formal economy. We have supported the development of the Women Headed Household Action Plan and implemented a range of activities to support the new quota for women in local government.
In 2017, Australia will launch three new initiatives that focus on helping Sri Lanka to capture more income and revenue every year from the inclusion of more people, especially women and youth, in the formal economy. The ‘Skills for Inclusive Growth’ programme will deliver targeted skills development to support job creation and business growth in the tourism sector. Australia’s ‘Market Development Facility’ will support small and medium businesses to expand in a way that provides more job opportunities for all, including women.
Our ‘Women in Business’ programme will aim to provide more quality job opportunities for women and support the growth of female-owned businesses. We will work with lead firms to remove barriers to women’s workforce participation, support women in leadership programs, identify opportunities to link female-owned businesses in value chains, and increase access to finance and consumer protection. These programmes will all contribute to Prime Minister Wickremesinghe’s target of increasing women’s workforce participation to 40 per cent by 2020.
During the last year, I have met with a wide range of women’s organisations and women leaders from across the island. I have been humbled by the passion, enthusiasm and commitment of these women in promoting gender equality. But it is important that more men, especially those in positions of power and influence, help advance this work.
Men need to stand together with women to say that gender equality is everyone’s business.In Australia we have an initiative known as Male Champions of Change. This initiative engages men to ensure that gender equality is better understood and to find new ways to bring about change, especially attitudinal change.
On International Women’s Day, I encourage all of us to recommit to promoting gender equality. It is both the right and the smart thing to do. It is also vital for realising our shared hopes for a prosperous and sustainable future for our region.
Follow Australia’s development programmes at:
www.srilanka.embassy.gov.au
www.facebook.com/AustraliainSri LankaandMaldives
www.twitter.com/AusHCSriLanka