$360b Investment Needed Yearly To Achieve Gender Equality, UN Report

This week, UN Women, the arm of the United Nations that focuses on women's rights and gender equality, warned that more than one in five women and girls are at risk of living in extreme poverty by 2030.

If current trends continue, the UN Women report estimated that more than 340 million females, around 8 per cent of the world's female population, will be forced into destitution.

There has been a lack of progress towards the Sustainable Development Goals, the report said, noting that the number of women and girls in conflict-affected contexts increasing by 50 per cent since 2017 – measured at 614 million in 2022.

The remaining gender-biases have not only jeopardised the 2030 Agenda for Sustainable Development, an estimated 110 million girls and young women will be out of school in 2030, considering the current rates of progress.

"The world is facing many crises, ranging from geopolitical conflicts to soaring poverty levels and the escalating impacts of climate change. These challenges can only be addressed by solutions that empower women," UN Women wrote.

Official data shows that women currently spend roughly three time more time in unpaid care roles, compared to that of men – according to the report.

The data highlighted that the hospitable activities would account for more than 40 per cent of the worlds GDP if were recognised with monetary values.

The data was collected after researchers analysed more than 90 countries and urges governments to focus on transformative policy measures in five main areas, including care, macroeconomics, labour, social protection and migration.

"By investing in women, we can spark change and speed the transition towards a healthier, safer, and more equal world for all," UN Women urged.

Donating some $360 billion per year is necessary, if the world is to achieve gender equality and women's empowerment across key global goals, the report explained.

The report also told world leaders and policymakers to value, recognize, and take responsibility for the vital contribution that unpaid women could make to the global economy.

The study found that "mothers typically have lower and relatively poor-quality labour market participation compared with women living without dependants, as well as compared with men and fathers".

For each 51 cents that women holding labour positions earn, male employees in the same sector earn one dollar, said the report.

According to the women's arm of the UN, with the current rate of progress, the next generation of women are on track to spend an additional average of 2.3 hours on unpaid care and domestic work each day, compared to the next generation of men.

For the first time, the report also referenced to climate change data.

According to the report, the current rate of climate change is also expected to force an additional 158.3 million more women and girls into poverty, 16 million more than the total number of men and boys.

"Food insecurity is projected to affect as many as 236 million more women and girls, compared to 131 million more men and boys, due to climate change," the report said.