As we approach International Women’s Day 2024, the real theme “Invest in women: Accelerate progress” calls for a critical examination of what it truly means to invest in women. It’s not just about blindly supporting every woman-owned business, but rather directing our focus towards businesses and organizations that actively further women’s education, opportunity, and equity. Let us explain…
It’s not about women owning businesses, it’s about what they do with them
Let’s set the record straight from the get-go. Simply funneling funds into any women-owned venture isn’t exactly the point of this theme; just because a business is owned by a woman doesn’t mean that it inherently champions the cause of women’s liberation. Sure, seeing more women at the helm of big businesses can be a step in the right direction, but we can’t confuse representation with advancement. For example: while your favourite cosmetics empire may be founded by a woman, does it actively push the feminist agenda of women’s liberation? Probably not. Under this year’s theme of “investing in her”, the discussion is around getting funding to businesses, initiatives and programs that have the primary aim of furthering a woman’s place in this world.
What ‘invest in women’ is really about
We’ve written before about the importance of focusing on how UN Women unpacks the annual IWD theme, so as not to get caught up in meaningless corporate fluff. This year, the organisation notes that investing in women is not just an economic or social imperative, it’s a fundamental human rights issue. According to the site: “One of the key challenges in achieving gender equality by 2030 is an alarming lack of financing with a staggering USD 360 billion annual deficit in spending on gender-equality measures.”
Women make up half of the world’s population, yet continue to face systemic discrimination and marginalisation in various aspects of life. Denying women equal opportunities and access to resources not only undermines their dignity and autonomy but also perpetuates cycles of poverty and inequality. It’s predicted that 342 million women and girls will be living below the poverty line by 2030. That’s only seven years away! Immediate action is necessary if we have any hope of decreasing that number.
UN Women have suggested three areas to focus on to make this change:
1. Implementing gender-responsive financing:
Incorporating a gender perspective into government planning, programming, and budgeting to advance gender equality and fulfill women’s rights. That means investing in policies and initiatives that address systemic issues like pay equity, affordable childcare, and parental leave. These are the investments that have a tangible impact on women’s lives, paving the way for true progress and equality.
2. Shifting to a green economy and care society:
Women often bear the brunt of environmental crises and are more likely to be affected by issues such as food insecurity, water scarcity, and displacement due to climate-related events. An UNFPA report said that the 14 countries most impacted by climate breakdown are also where “women and girls are more likely to die in childbirth, marry early, experience gender-based violence or become displaced and homeless by disaster.” Investing in green jobs and promoting sustainable practices, empowers women economically and socially, contributing to a more inclusive and resilient society.
3. Supporting feminist change-makers:
Feminist change-makers are at the forefront of advocating for women’s rights, challenging discriminatory norms and practices, and promoting inclusive policies and initiatives. But currently organisations and individuals focusing on gender equality and women’s empowerment only receive 0.13% of total official development assistance. Again, women-run small businesses are important and can help empower communities through representation. But we must look to prioritise investing in women, businesses and organisations that are actively furthering women’s education, opportunity, equity and liberation, because that’s how we truly accelerate progress for all.
So where should our focus lie?
Just to reiterate again – there is nothing wrong with being a female entrepreneur, a woman CEO, or selling products to predominantly female customers. But it’s important to remember that the focus is not to encourage financial investment in a woman-owned beauty brand, social media app, or to close the wage gap of female corporate leaders. The 2024 IWD theme is a call for investment in solutions for the education, employment access, health, safety, and legal protection of women and girls… you get the idea.
Here are some women and organisations that are actively driving progress for women that you can support this International Women’s Day:
- Girls That Invest – Simran Kaur
Simran is one of the world’s most inclusive investing educators. She is the founder and co-host of the number-one global stock market podcast, Girls That Invest, and is passionate about educating and uplifting women to find financial security. - TABOO Period Products
TABOO is a social enterprise in Australia that sells 100% organic cotton period products, with all profits going to initiatives ending period poverty. The organisation primarily focuses its efforts on education programs for women and their communities in Sierra Leone and Uganda, working with One Girl. - Code Like A Girl – Ally Watson
Code Like A Girl is a social enterprise dedicated to promoting diversity and opportunities for women in the tech industry, founded by Ally Watson. Code Like A Girl is best known for running coding workshops for girls aged between six and eighteen and has reached over 2,000 girls over the past two years. - Sisterworks – Luz Restrepo
Once an asylum-seeker herself, Luz Restrepo established non-profit social enterprise SisterWorks to support the economic and social inclusion of migrant and refugee women. The organization supports women with migrant, asylum seeker, or refugee backgrounds with training programs to get them into the workforce, and provides employment opportunities throughout the organisation itself. - Teach Well – Ingrid Sealy
Teach Well is a platform that improves school student outcomes by providing professional development and evidence-based, contemporary whole-school approaches for teachers and school administrators. The organisation’s founder, Ingrid Sealy, is a recognised leader in education and Teach Well won the 2023 Cartier Women’s Initiative. - One Small Step – Lily Dempster
Lily Dempster’s One Small Step app uses “behavioral science to help millions achieve net zero emissions.” The app is designed to promote sustainable living by providing users with practical tips, challenges, and community support. One Small Step aims to empower individuals to make a difference through small, achievable actions in their daily lives. - Clothing The Gaps – Laura Thompson and Sarah Sheridan
Co-founded by Gunditjmara woman Laura Thompson and Sarah Sheridan, Clothing The Gaps is a fashion label promoting social change and sparking conversations about Indigenous rights. Profits from the label fund First Nations health and exercise programs through the Clothing the Gaps Foundation, a non-profit organisation working to close the Indigenous life expectancy gap. - Success Works
Led by Executive Officer, Eleni Psillakis, Success Works Partners, focuses on empowering women impacted by the criminal justice system. They provide employability skills training for formerly-incarcerated women – who face huge stigma in society – and break down barriers to employment through engagement, training, and advocacy for change with potential employers. - She’s A Crowd – Dr Zoë Condliffe
Dr Zoë Condliffe founded She’s A Crowd as a way to harness the power of data and storytelling to address gender-based violence. By providing a safe space for individuals to anonymously share their experiences, She’s A Crowd aims to raise awareness, advocate for change, and support those affected. This initiative hopes to reshape the conversation around gender-based violence. - Girl Geek Academy
Girl Geek Academy aims to bring one million women and girls into technology careers by 2030. With a focus on education, entrepreneurship, and community building, the organisation offers a range of programs and events aimed at bridging the gender gap in STEM and fostering the next generation of female leaders in tech.
Smart people read more:
How Feminist Activism Reshaped History’s Narrative Of Gender Equality – Refinery29
This International Women’s Day, I Want Us to Think More Critically About Female Leaders
Feminism Must Include Empathy for Working-Class Men – Jacobin
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