Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
Head of ESG investments, Saxo Bank.
Summary: Gender equality is a human right. It is about fairness and justice, and should not be a matter of debate. All genders deserve equal treatment and access to the same opportunities. Unfortunately, the reality is far from this ideal. To improve the conditions of women, we can take several actions, including advocating for gender equality, challenging gender stereotypes and investing in companies that champion women.
March 8, marks International Women’s Day (IWD), a United Nations celebration of women’s social, economic, cultural and political achievements. IWD focuses on gender equality, women’s advancement and empowerment, so let’s talk about women.
Another year, another IWD. But where do women stand today? Have we made progress compared to the previous year, the past decade? Have women achieved gender equality? Depends on whom you ask. A 2024 Ipsos global study covering 31 countries shows that:
When compared to the facts, the numbers from the Ipsos study are concerning. According to Eurostat, the gender pay gap in Europe was 12.7% in 2022, while in the US, it was 18% according to the Pew Research Center. Progress has been made and the gender pay gap has narrowed over the last decade in Europe, the US and Asia, but a significant gap still exists. Additionally, the global gender gap score, which measures the difference between women and men in social, political, intellectual, cultural and economic attainments, was 68.4% in 2023 for all countries. The reality is that no country has achieved gender parity, and unfortunately, it may take over a century before women can expect to attain equality with men.
So if you ask me whether we have achieved gender equality, the answer is a resounding no. Although women’s conditions have improved, we are far from gender equality and continue to observe striking disparities between genders worldwide, including:
First of all, it should be pointed out that gender equality is a human right and is about fairness. Regardless of gender, everyone should be treated equally, and this should not be a matter of debate. As far as I know, we all have a mother and some of us have sisters, daughters or wives, making the condition of women a concern for most. We should all get involved and ask ourselves “What can I do?” And we need not wait for IWD to take action to improve the condition of women, both near and far. Let's make every day Women's Day.
There are many ways to support and empower women, such as educating yourself and others about gender issues, raising awareness about gender inequalities, advocating for equal pay in your workplace, promoting women in leadership, and educating women about financial matters. Additionally, investing in companies committed to empowering and advancing women through policies, programs, and leadership positions is an excellent way to offer support.
Giving women a seat at the table and bringing more women into leadership roles benefits not only women but also businesses, as research shows that companies with more women in leadership positions perform better. These companies tend to be more innovative, socially responsible, and have higher customer satisfaction and employee retention.