Advancing gender equality: Action and progress by the UN Global Compact

Gender equality is a fundamental human right as much as an economic and social imperative. The United Nations Global Compact remains steadfast in its commitment to advancing Sustainable Development Goal 5 (SDG 5) — achieving gender equality and empowering all women and girls. We are driving meaningful change in workplaces, marketplaces and communities through strategic initiatives, partnerships and corporate engagement.

1. Target Gender Equality (TGE) Accelerator
The Target Gender Equality Accelerator guides companies in setting measurable targets for gender equality. This nine-month programme is offered to companies participating in the United Nations Global Compact who want to set and reach ambitious corporate targets for women’s representation, equal pay and leadership in business. 

With a satisfaction rate of 97%, the programme continues to be one of the most impactful initiatives in our portfolio. In 2024, we expanded the Target Gender Equality Accelerator to new regions, engaging more than 25 countries to advance gender equality.

2. Women’s Empowerment Principles (WEPs)
Developed in collaboration with UN Women, the Women’s Empowerment Principles (WEPs) provide a comprehensive framework for businesses to advance gender equality in the workplace, marketplace and community. These principles are a primary vehicle for corporate delivery of gender equality, such as ensuring equal pay, gender-responsive supply chains and zero tolerance for harassment, among other critical initiatives. 

The WEPs Gender Gap Analysis Tool helps companies assess their current efforts to advance gender equality and identify areas for improvement. Since its launch, more than 11,000 companies have used this tool to establish a baseline for their gender equality performance and to evaluate their ongoing progress. 

3. The Forward Faster initiative
On gender equality, the Forward Faster initiative is designed to accelerate corporate action, specifically in line with SDG 5, and calls on business leaders to commit to two essential goals by 2030:

• Equal representation, participation and leadership of women across all levels of management.
• Equal pay for work of equal value.
   

The Forward Faster initiative calls on businesses to identify and close pay gaps by calculating disparities, creating action plans, and conducting regular checks to ensure long-term equity. Additionally, businesses should address systemic barriers by reassessing recruitment and promotion processes, increasing transparency through pay gap disclosures and published salary ranges and advocating for stronger wage transparency legislation. By embedding these practices into governance mechanisms and corporate culture, companies can drive meaningful progress toward pay equity and equal representation.

4. Male allyship: Engaging men as advocates
The movement toward gender equality requires recognition and advocacy from allies. By focusing on male allyship, the UN Global Compact encourages CEOs, business leaders and employees at all levels to champion gender equality, actively support policies that dismantle systemic barriers, and foster an inclusive workplace culture. In encouraging male allyship, we seek to challenge biases and advocate for equal opportunities. The UN Global Compact offers resources to support individuals’ and companies' allyship journeys. Our E-Learning Course, “How to be a male allyship for gender equality,” targets male leaders as individuals interested in championing allyship. Additionally, our soon-to-launch action guide, “Mainstreaming male allyship: An action guide for business” offers guidance to businesses on how to engage men in leadership to use their power to advance gender equality and create lasting change across organizations.

5. Unlocking women’s economic power through finance
Launched on International Women’s Day 2024, the UN Global Compact’s Invest in Women initiative is driving private-sector action to break down barriers and unlock economic opportunities for women. Only 2% of venture capital funding globally goes to women-owned businesses (World Economic Forum, 2024). Through Invest in Women, we will work to develop and scale gender-responsive financing solutions through catalytic philanthropy, investor pipelines and corporate procurement policies to support inclusive growth. 

6. The Africa Business Leaders’ Coalition and gender: Shaping an inclusive future
The Africa Business Leaders’ Coalition (ABLC) is taking bold steps to accelerate gender equality in Africa’s private sector. Our report, Corporate Africa - Advancing Gender Equality, highlights the unfortunate stagnation in women’s economic inclusion in Africa. Per the report, women’s success at work appears to be impacted by expectations of women in the home. In response to the listed challenges in the report, the ABLC convened at the Africa CEO Forum in Kigali, Rwanda, on 16-17 May 2024, at which members signed the ABLC Gender Statement, a commitment informed by expert consultations to drive meaningful change. This initiative equips African businesses with the tools to track progress, build capacity and implement concrete actions for women’s economic inclusion. To date, 50% of ABLC members have signed the Gender Statement, marking a significant step towards catalyzing CEO commitment in corporate Africa to becoming leaders in gender equality.

While progress has been made, accelerating gender equality in business requires a long-term commitment. Here’s how we continue to evolve and scale impact:

• Enhancing corporate accountability: We are strengthening reporting mechanisms to ensure businesses are transparent about their gender equality commitments and progress.
• Empowering future generations: Investing in sponsorship and leadership programs for young women in business.
• Expanding global reach: Introducing new country networks to drive localized gender initiatives aligned with regional challenges and opportunities.

• Strengthening public-private collaboration: Partnering with governments, NGOs and international organizations to create policies that support gender equality at a systemic level.

  

The journey toward gender equality is ongoing, and businesses must play an active role in shaping a more inclusive future. Whether through policy changes or initiatives, every action contributes to more momentum.

Now is the time to turn commitments into concrete action and ensure that gender equality remains at the forefront of the global business agenda.

Are you ready to be part of the change? Learn more about how your company can drive gender equality by engaging with UN Global Compact initiatives today.