I wrote last week that with an Administration and Congress both prioritizing gender equality and women’s economic empowerment, now was a good time to put in place legislation that would leverage the power of US-based multinational enterprises to encourage gender equality in the workplace in countries that legally enforced discrimination. A recent case of US-based multinational enterprises abetting discrimination suggests an extension to the law, and the creation of the new US Development Finance Corporation provides a new tool for the legislation to use.
CGD Policy Blogs
On October 4, CGD convened a private roundtable on women and financial technology in development alongside Monica Brand Engel, co-founding partner of Quona Capital (which invests in financial technology solutions in the developing world), and Wendy Jagerson Teleki of the International Finance Corporation. An engaged set of participants from MDBs, government, civil society, and the private sector joined Engel and Teleki in exchanging ideas on how to increase women’s representation in financial technology (or “fintech” for short) leadership and improve access to financial services for women.
Women account for just 15 percent of all listed inventors behind nine million patent applications across 182 countries. On current rates, we won’t achieve gender parity in inventors until around 2080. It would be in the interests of both innovative firms and the countries that house them were we to pick up the pace. Leveling the playing field for women innovators would be good for them, good for employers and good for productivity.