Women in work: how companies in Chile reduced wage inequalities
New data released in the Global Gender Gap Report shows strong results from three years of public-private collaboration to further close the economic gender gap in Chile.
It is now widely accepted that gender parity in education and employment is critical for economic growth and societal cohesion. According to the estimates of the Global Gender Gap Report 2020, the Latin America and the Caribbean region has closed 72.1% of its gender gap and at this rate it will take 59 years to close the gender gap. Whilst this is an improvement from previous years, more remains to be done to accelerate the rate of change.
Since 2016, the Inter-American Development Bank and the World Economic Forum have collaborated together to launch public-private partnerships that help to address the economic gender inequality across Latin America and the Caribbean. These partnerships include stakeholders of key ministries, businesses and civil society that together create and implement a three year action plan that is tailored to the local context.
In Chile, the Ministry of Women and Gender Equity along with the Inter-American Development Bank and the Platform for Shaping the Future of the New Economy and Society at the World Economic Forum have partnered to work together on closing the economic gender gap by setting up a Country Accelerator on Closing the Gender Gap. The Accelerator will aim to advance more women into management and leadership positions, close gender gaps in remuneration and investment and increase women’s participation in the labour force.