Investing in women and gender equality for a better world

Investing in gender equality and the caring society is an economic and ethical imperative to accelerate progress towards sustainable development.

In a context of intertwined crises that threaten to deepen historical inequalities, it is crucial to implement policies that break the vicious cycle of poverty and exclusion.

In recent decades, we have made significant progress in regulatory frameworks for gender equality in law, such as the promulgation of regulations against gender violence, the prohibition of child marriage, wage discrimination, among others.

Progress is being made in gender institutions in the different powers of the State, however, we face challenges in the implementation and financing of equality policies.

At ECLAC we have stated that it is time for strategic investments and public policies to move towards substantive equality and a caring society.

In Latin America and the Caribbean, one in four women (25.3%) does not have their own income, almost three times more than men (9.7%).

Among women in the first quintile, almost 40% do not receive any type of monetary income of their own.

The region advanced in parity in education.

Women, in fact, have more years of study on average, but this is not yet reflected in their full participation in the economy, politics, science, technology, among other fields.

For example, half of women are outside the labor market, in contrast to the participation rate of men, which is close to 75%.

These gaps are largely due to the sexual division of labor and the disproportionate burden of care work that falls on women.

Women spend almost three times as much time as men on unpaid domestic and care work.

Young women face higher rates of unemployment and job insecurity than young men, and these differences are even greater when there are children in the home, showing that the trend is not reversing.

Precariousness disproportionately affects women, with three in 10 in poverty and one in 10 in extreme poverty.

There are 118 women in poverty and 120 women in extreme poverty for every 100 men in a similar situation.

The feminization of poverty expands even further in indigenous populations, Afro-descendants and inhabitants of rural areas.

Despite these challenges, there are reasons for action and hope.

The region is the only one that has been agreeing on a Regional Gender Agenda for more than 45 years at the Regional Conference on Women in Latin America and the Caribbean.

It is an ambitious, profound and comprehensive roadmap that guides the public policies of the countries.

The region has made progress in institutionality, and has agreed to promote and adopt progressive fiscal policies, budgets with a gender focus and implement financing mechanisms to guarantee sufficient, non-transferable and sustainable resources to reverse gender inequalities.

Investing in gender equality is essential not only for reasons of justice and inclusion, but also to boost the economy.

For example, the implementation of comprehensive care systems –that articulate health, education and care services–, and policies that allow the reduction and redistribution of care work, would facilitate the incorporation of women into the labor market.

In the countries in which the contribution of unpaid domestic and care work to the economy has been measured, it varies between 15.9% and 27.6% of GDP, where 74.5% of this contribution is women do.

Today, March 8, we recognize that the region is moving in the right direction, but very slowly to achieve the goals of real equality in 2030. Without a doubt, we can do more.

With women's leadership, men's commitment, and political will, we can build a better society that prioritizes caring for people and the planet.

Today's world requires bold changes and urgent transformations, starting with ending the historical exclusion of women in all areas of society.

José Manuel Salazar-Xirinachs

is executive secretary of the Economic Commission for Latin America and the Caribbean, ECLAC.

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