The WEALTHTECH Book

The Business Case for Gender Equality

By Angela Sun

Global Head of Strategy and Corporate Development, Bloomberg

The Case for Gender Equality

The conversation around gender equality in the workplace reached a crescendo in early 2017, as millions marched for women’s rights around the world. A few weeks later, an international strike urged women to forgo their paid and unpaid responsibilities and show the world the impact of a day without women. And, on the eve of International Women’s Day, a bronze statue of a young girl appeared on Wall Street, defiantly facing the iconic charging bull. This “Fearless Girl” symbolized State Street’s campaign to increase the number of female directors, calling on the thousands of public companies it invests in to take action.

Collectively, these protests and campaigns reflect a growing sense of frustration around the glacial pace of women’s progress in the workplace and global economy. A 2015 McKinsey study showed that if women’s participation in the labour markets matched that of men’s, as much as US$28 trillion could be added to the global annual GDP by 2025.¹ Companies are beginning to recognize this untapped potential, and what’s at risk if they fail to provide a more gender-equal and inclusive work environment: access to the widest pool of talent, more productive and innovative teams, and ultimately, stronger financial performance. Underlying this is the message that, increasingly, investor dollars are also at stake – and that gender equality ...