Subject: Marching Forward: A Call to Action for Women's Economic Empowerment

Tapping into the spirit of International Women’s Day and Women’s History Month

Dear Friend,

We are on the cusp of March and with it, the global observance of International Women’s Day. 

March is always a month of recognition, reflection, and renewed commitment as we celebrate what has been achieved in attaining equity for women and girls, and look ahead and strategise on what else remains to be done.

This year’s observance arrives against the backdrop of a deeply uncertain and shifting global landscape - one where the hard-won gains of women and marginalised communities seem to be facing mounting resistance - in legislative chambers, corporate boardrooms and amidst the toxic echo chambers of social media.

However the mission inherent in March signals to us that the work needed to advance the economic empowerment and social upliftment of women and girls, goes beyond a single day and beyond hashtags and speeches.

Besides being the month of International Women’s Day, March is Women’s History Month and represents an opportunity to draw strength and inspiration from the past as we navigate the present and shape the future.

History teaches us that progress has never been handed to us; it has been seized through perseverance, adaptability, and most crucially, solidarity. Women have always built pathways forward, whether by making common cause across movements, investing in one another, or simply refusing to be erased.

Shirley Chisholm said, “If they don’t give you a seat at the table, bring a folding chair.”

It is rightfully, one of the most famous quotes from the long-time congresswoman who was the first woman to run for the presidential nomination of a major party in the United States.

As we continue to fight for influence at the table, the realities we face are reminders of the power we hold - and of the urgency to keep going. 

The same Shirley Chisholm also said, “You don't make progress by standing on the sidelines, whimpering and complaining. You make progress by implementing ideas.”

Let’s tap into that can-do spirit and this month, commit to do more than simply celebrate. Let’s strategise, mobilise, and invest in one another. The road ahead may be long, but history is on our side—and so is the future we are shaping together.

Keep reading for a selection of the latest GLI news and insights.

In Community,

2X Global Team 

News from the field

Mainstreaming gender lens investing. Mackenzie Scott's unprecedented philanthropic giving has been a topic of interest for years, as she's given over $19 billion in unrestricted gifts to over 2000 organisations. Now, an extensive study is assessing the impact of her philanthropy. A milestone moment in Peru where BBVA Perú, together with IDB Invest, has launched its first international private gender social bond, and the first with performance-based incentives. Australia releases its international gender equality strategy focused on 5 priorities- working to end sexual and gender based violence and advance women's sexual and reproductive health and rights, gender responsive peace and security, gender equitable climate action, pursue women's economic equality and inclusive trade, support locally led approaches to women's leadership. This report provides an evaluation of the state of access to finance by Women-Owned Enterprises (WoEs) in Nigeria, providing insights into the barriers and challenges faced by Women-Owned Enterprises in accessing finance as well as best practices and recommendations for facilitating interventions and driving the increased uptake of financial products by WoEs in Nigeria. As the Great Wealth Transfer continues unabated, wealth managers are realising they have to shift their approaches and assumptions when it comes to addressing the needs and concerns of high net worth women. In Ecuador, CAF has allocated USD 137 million to Banco Pichincha for green financing and women-led SMEs.

Gender and Climate Investing. A growing body of evidence is showing the link between climate change and violence against women, with increases in domestic violence documented during and after heatwaves and one study finding that an increase in temperature of 1 degree Celsius was connected to a more than 6 per cent rise in domestic violence. Luxembourgish firms are leading their EU peers when it comes to investing in mitigating climate change impacts, according to a European Investment Bank (EIB) Group Investment Survey. A new study from the IMF finds that Latin American financial markets are increasingly pricing in climate risks, with 'brown' firms facing higher penalties than 'green' firms which are benefiting from global shifts towards sustainability. A new study shows why gender equality trends should be central when planning how societies adapt to and mitigate climate change. Despite a U.S. policy pivot back to supporting fossil fuels, regional investors in Asia-Pacific are continuing to support green energy projects, citing strong domestic policies, financial viability, and long-term sustainability.

Leadership, Culture and Policy, JEDI. We're not going back on gender parity, asserted leaders at Davos. But in the face of growing backlash against women's equality, what's the path forward and what are the lessons to be learned? The Asian Development Bank is setting the bar even higher on its goals to increase representation and inclusion of women, having exceeded the targets set in its gender mainstreaming goals set in 2019. Effective January 2025, the Bank has updated its gender mainstreaming approach to reflect the newer, even more ambitious approach. BBVA is also setting higher targets for itself, having exceeded its goal of 35 percent of women in managerial positions by 2024, buttressed by initiatives such as its global program ‘Yo soy talento feminino’ which helped to boost its pipeline of promising women managers. 

Data and Tools. What happened when the Gender Scaling Financing Facility (GSFF) worked with over 100 social entrepreneurs across Latin America, helping them to mainstream gender into their strategy, operations and daily practices? Great things, including a 35% increase in earned revenue, 68% increase in clients/users/beneficiaries and marked increases in female staffing and leadership. Read more about the findings. The FTSE Women Leaders Review report for 2025, published just this week, shows encouraging year-on-year increases in the proportion of women leaders in the business sector, with women occupying over 43% of roles on company boards. Even AI isn't immune to gender bias. A new Singapore study testing AI safety and biases found AI chatbots reflected common gender and racial stereotypes when asked certain questions such as which gender is most likely to be scammed online. In 2024, 98% of all the start-up funding in Africa went to ventures with a male CEO, and 93.5% to ventures without a female founder. Africa: The Big Deal reports that these stats are the worst in terms of inequalities since they started tracking these numbers in 2019 through their startup deals database.

Care Economy. Our CEO Jessica Espinoza reflected on 2X Global's work with Canada's IDRC on the Transforming the Care Economy through Impact Investing project in this new video series out now. Working families in New Hampshire lost approximately US$178 million in wages in 2023 because they couldn't find adequate child care, finds a new report from the New Hampshire Fiscal Policy Institute looking at the economic impact of the state's child care shortage. Canada and Nepal partnered this month on a dialogue focused on the care economy and advancing decent work. Kenya is losing nearly 7 per cent of its GDP to unpaid and unrecognised care work, leading the Ministry of Gender there to launch a National Care Policy which aims to measure, reflect and reward care work. 

Resilience (GBVH, Financial Inclusion, Security).  Women are better at ending wars and bringing lasting peace. This Economist piece digs into why and whether the world is learning the lesson of this. The Global Innovation Fund spotlights key points from an insightful recent conversation on how to advance digital and financial inclusion for women, honing in on the importance of data and measurement. A Women's Development Bank, focused on funding women entrepreneurs who face significant hurdles in access to capital, may be on the cards in Ghana, as one of the pledges of the newly elected NDC administration, led by President John Dramani Mahama and the country's first woman Vice-President Professor Jane Naana Opoku Agyemang. EIB, the European Investment Fund (EIF), Santander Bank Polska and Santander Leasing have signed a new agreement to support lending to SMEs, in particular, women-led or owned SMEs.  Fifty years after the inception of the pioneering microfinance approach which revolutionised financial inclusion for some of the world's poorest women, this piece in the Harvard International Review reflects on its impact and future. A new loan agreement between the Japan International Cooperation Agency and Banco del País, S.A. puts women entrepreneurs at its heart, with a commitment that at least 30% of the loan must go to financing women-owned SMEs.

Community Calendar

6 March

With the new 2X Certification User Guide just launched, those interested in learning more about 2X Certification can register for our upcoming information sessions on Thursday, March 6th. 

Session A - 🕗 8:00 AM GMT

Session B - 🕒 3:00 PM GMT

12-13 March

The Sustainable Energy for All Global Forum will be held in Barbados and led by Barbados Prime Minister Mia Amor Mottley, focusing on catalysing the actions and investment needed for countries to achieve their energy access, climate and development goals. Registration.

24 March

Connect with us in Singapore at the 2X Global Investor Meet-Up, co-hosted with Sarona Asset Management and TVM Capital Healthcare. Click to register

26-27 March

The Impact Investment Summit Asia Pacific will take place in Sydney, Australia, focusing on ways to drive capital towards social and environmental solutions. Explore the programme here. Register here.

1 April

Join 2X Global and the Skoll Foundation on the first night of the Skoll World Forum, for the 2X Global Happy Hour - an evening of engaging dialogue on the latest trends in gender lens investing. The Skoll World Forum brings leaders and social innovators together every year in Oxford to share ideas. To RSVP, email Noor Fatima.

2-4 September

Save the date for the 2X Global Summit which will take place in Manila from September 2 to 4, 2025, co-hosted by the Asian Development Bank (ADB). Explore 2xglobal.org/membership to learn how you can attend.

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