UNDP’s Financial Centres for Sustainability Network launches a comprehensive Gender Finance Booklet, in collaboration with UN Women, to advance gender equality within financial services.

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The United Nations Development Programme’s (UNDP) Financial Centres for Sustainability (FC4S) Network unveiled its ground-breaking Gender Finance Booklet during the Gender and Finance Day at COP28 on 4 December 2023, reflecting a strategic collaboration with UN Women. HKGFA, as an endorser of the Gender Charter of FC4S, is excited to collaborate with our partners and members to promote and advance gender equality in the realm of sustainable finance.

The United Nations Development Programme’s (UNDP) Financial Centres for Sustainability Network (FC4S) has launched a comprehensive Gender Finance Booklet to provide tailored guidance for Financial Centres seeking to integrate a gender lens within their organizations and in the financial sector.

The FC4S Gender Finance Booklet is an extension of the FC4S Gender Finance Charter, a pioneering initiative developed by the FC4S Gender Finance Working Group. The Charter garnered endorsement from 21 FC4S members and was officially launched at the FC4S Annual General Meeting in Dublin in September this year. It defined ten fundamental principles encouraging Financial Centres to champion women’s leadership and representation across their ecosystems, enhance women’s access to finance and focus on women-owned and women-led businesses. The principles prioritized transparency in gender performance, provided guidance for the establishment of gender-related targets and advocated for the development and adoption of gender-responsive financial products and practices.

The FC4S Gender Finance Booklet, enriched by the valuable input and real-world examples contributed by FC4S members, serves as a comprehensive guide. It leads Financial Centres through the principles outlined in the Charter, providing detailed actions, practical tools, and case studies. This collectively crafted booklet is a valuable resource, ensuring the success of Financial Centres in their journey towards gender equality.

“It’s really special to be included in the unveiling of the Gender Finance Booklet, a ground-breaking guide made possible through the support of the Government of Ireland,” said Jennifer Carroll MacNeill TD, Minister of State at the Department of Finance of Ireland. “It really is a strong endorsement of everyone’s collective commitment to advancing gender equality not only within financial services but also on a global scale. This booklet builds upon the Gender Finance Charter in Dublin and marks the next big step forward in our shared journey toward a more equitable and prosperous future.”

“We need to change the way we do finance if we want to achieve gender equality. The financial services sector has an immense potential to shape economies and societies and make them more equitable. This landmark Gender Finance Booklet provides practical, achievable, and impactful actions that can be adopted by Financial Centres globally,” said Raquel Lagunas, UNDP Director of Gender Equality“We hope that this collaboration can help match our global collective commitments on gender equality with the necessary investments and adequate financial architecture.”

“Gender equality is a fundamental pillar within the mission of the FC4S Network, and we take great pride in the collaborative efforts of our members that have led to the launch of this guidance on gender finance today,” said Lamia Merzouki, Chair FC4S and Deputy General Manager, Casablanca Finance City Authority. “The Gender Finance Booklet serves as a valuable tool for Financial Centres, empowering them to navigate and succeed in their gender finance journey.”

“UN Women is pleased to partner with UNDP’s Financial Centres for Sustainability Network to develop guidance for financial centres to advance gender equality,” said Jemimah Njuki, Chief, Economic Empowerment at UN Women. “The Gender Finance Booklet provides a concrete range of actions and lessons from across the globe, which could change the ways in which financial centres operate, by including an intentional focus on contributing to women’s empowerment.”

Co-developed with UN Women, the FC4S Gender Finance Booklet reinforces the commitment of both organizations to financing for gender equality. It sets a standard for Financial Centres globally, providing a comprehensive approach to implementing the Charter for Gender Finance.

Looking ahead to 2024, FC4S plans to complement this guidance with training programs for member financial centres. The FC4S Network remains steadfast in its commitment to advancing gender finance, collaborating with partners and financial centres worldwide.

The FC4S Gender Finance Booklet can be viewed here: https://bit.ly/3uSmCdK

Source: Financial Centres for Sustainability

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