The progress of the Italian-led G20 for women’s empowerment

At the G20 Empower private and public actors collaborated to define the strategy necessary to enhance female talents in companies.

The first edition of the G20 for women’s empowerment took place during the G20 under the Italian presidency. It is the only forum where the private sector and governments meet to discuss and make decisions that facilitate women’s progress in the labor market. On the other hand, today only 38.8 percent of women work in the world. And even worse happens for the top management of companies: women occupy only 27 per cent of managerial positions and only 26 per cent of the seats on the boards of directors of listed companies. As for the top companies, just 8 percent of Fortune 500 companies.

This year the G20 Empower group, led by Paola Mascaro, president of Valore D, focused on three main areas: measuring progress in equality of work and career opportunities between men and women, breaking down barriers to recognition of female talents and the training of future leaders. The results of the long work were set out in the group’s final communiqué which was presented to the G20 ministers for equal opportunities on 26 August and later during the final conference of world leaders which took place in Rome on 30 and 31 October. . Prime Minister Mario Draghi, who chaired the work of the G20 this year, said on the occasion of the presentation of the Empower group report that “any loss of female talent is a loss for all of us”.

The works led to the publication of the first international manual for the dissemination of good practices useful for promoting female leadership. It is the product of the collaboration with the Boston Consulting Group. Best practices include policies to attract and promote female talent, flexible work policies, initiatives to raise awareness of the value of diversity, projects for professional growth and leadership. Commenting on the result, the Italian Minister for Equal Opportunities and the Family, Elena Bonetti, stated that “the promotion of female leadership and equal opportunities passes through a renewed capacity for collaboration, at multiple levels. To free the talent of women, increase their presence in top positions and arrive at a more inclusive and fair model, starting from the world of work “.

The Alliance has also built a network of over 400 private sector witnesses in each G20 country and host countries. These are CEOs or heads of foundations and associations acting as supporters and promoters of the G20 Empower vision, message and commitment within their companies, industry and country, amplifying the impact of the work of the Alliance. By leveraging this network, a wide range of best practices are being gathered to help understand how to promote the advancement of women into leadership positions in the private sector.