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by Maria Lettini, CEO of the US SIF: The Sustainable Investment Forum
As we celebrate Women’s History Month, it is again a time of reflection. We delight in the pockets of progress over the years but reiterate that there is certainly no room for complacency. The World Bank estimated that there are still almost 2.4 billion women who are without equal economic opportunity and more than 178 countries that still maintain legal barriers to prevent the full economic participation of women.
Closer to my home, in the United States, numbers feel more optimistic. American women contribute more than $7 trillion to US gross domestic product each year. In addition, they control $10 trillion in assets, a number that is expected to grow to $30 trillion – an amount roughly equivalent to U.S. gross domestic product – over the next decade. And, by 2028, estimates suggest women will be responsible for 75% of discretionary spending.
When it comes to climate change, women are still disproportionately affected; however, given their growing economic importance, women have a really significant role to play in the rapid and just transition to a low carbon economy. At COP28, the nexus of gender and climate change was a clear focus. Vice President Harris reinforced the US government’s commitments to the Women in the Sustainable Economy (WISE) Initiative which, through public-private partnerships, gives women around the world access to capital and financing that supports climate resilience and women’s leadership on climate issues.
To meet net zero by 2050, the U.S. must transition swiftly. It’s an incredible challenge that requires the alignment of energy demand and production, diverse infrastructure components, supply chains across sectors, capital formation, public opinion, and more. Women’s influence is increasingly converging to the center as women become empowered to contribute to and benefit from the transition. At the US Sustainable Investment Forum (SIF), our research finds that climate is a top criterion for both institutional investors and money managers, and that diversity, equity and inclusion (DEI) issues are among our members’ top five investment themes and engagement priorities. This important climate-DEI intersection creates a potential wealth of opportunities for investors.
Read Maria's insightful article here - https://greenmoney.com/opportunity-for-women-in-the-clean-energy-transition
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