B20 WiBAC releases a Blueprint for "Global Women Empowerment"

By: WE Staff | Saturday, 17 September 2022

A B20-G20 dialogue event with the theme "Advancing Women in the Global Economy through the One Global Women Empowerment" was organised by the B20 Indonesia Women in Business Action Council (B20 WiBAC), one of the task forces of the B20 Indonesia Presidency.

The dialogue's objectives are to disseminate the final B20 WiBAC Policy & Action Recommendation paper and introduce the OGWE platform's conceptual framework for empowering women to support inclusive, resilient, and sustainable global economic growth.

High-ranking government officials, business executives, CSOs, philanthropists, women's platforms, and other pertinent stakeholders participated in this activity live and online from all of the G20 Presidency's member nations.

According to research from B20 WiBAC, increasing the participation of women in the global economy can lead to a $28 trillion improvement in GDP growth by 2025. To realise this potential, numerous barriers in the equality of women's participation in the business sphere must be closed. specifically the dearth of access to, opportunities for, and representation of women in senior roles in business.

The final B20 WiBAC Policy and Action Recommendation document contains three key themes that were developed through extensive discussions and different comments from the 150 members of the WiBAC B20. The themes will act as a road map for business communities around the globe and in all G20 nations as they work to close the gender participation gap.

Women's digital and leadership capabilities are enabled by accelerating women's access to the digital/STEM skills as well as by increasing the capabilities needed to take leadership positions. Gender-based reporting and the promotion of safe and equitable workplaces are strengthened by gendered reporting, and job security for women is improved by creating an ecosystem that can provide access to financial, legal, and technical assistance for business owners.

The B20 WiBAC launched the One Global Women Empowerment (OGWE) platform as a practical step to assist in the implementation of the Policy and Action recommendation to bridge the potential and challenges.

The website aims to connect those who want and can help empower women workers and businesses globally. It is hoped that the existence of OGWE will encourage women to participate more quickly, which will have an effect on global economic growth.

B20 WiBAC has established five major objectives as OGWE pillars in its capacity as an accelerator that empowers female workers and entrepreneurs.

They are supportive policy, funding & investment, technical support, knowledge sharing, and digital capability.

A technology-based secretariat will oversee the implementation of OGWE and offer all concerned parties services referred to as 5C (Crowdsource, Crowdfund, Curate, Clarify, and Communication).