The World Economic Forum today announces the public launch of the Hardwiring Gender Parity into the Future of Work initiative. It aims at accelerating the pathways for women to get the jobs of the future by 2022 with a target of reaching 50-50 in the fastest growth sectors of the new economy.
The Ingka Group (IKEA) Royal DSM are the founding members of the initiative. The World Economic Forum’s Platform for Shaping the New Economy and Society is hosting the Hardwiring Gender Parity into the Future of Work initiative, where companies commit to achieving the following by 2022:
- Identify five new or transformed job roles that significantly impact their organization
- Recruit 50% female talent into these job roles
- Develop a strong gender-equal reward system which addresses bias and ensures equal pay and equal opportunity to all staff
McKinsey & Company is serving as the initiative’s knowledge partner, helping to shape the research and knowledge base from which companies can draw valuable insights and solution-oriented actions.
“Gender gaps in economic opportunity have hardly narrowed over the past decade. As we enter the 2020s it’s time to future-proof gender parity efforts by creating more inclusive and diverse workplaces with a focus on the opportunities of tomorrow. Join us to build a 50-50 future of work,” said Saadia Zahidi, Managing Director, New Economy and Society at the World Economic Forum.”
Tracking and Solving Gender Parity in the Future of Work
Structural changes to labour markets are set to threaten the recent gains in gender parity. In 2018 the World Economic Forum’s Future of Jobs Report projected that leading up to 2022, 75 million jobs might be lost and 133 gained in some of the largest advanced and emerging markets as the nature of work changes across the global economy. In the context of significant “job churn” hardwiring gender parity into fast growing jobs – the jobs of tomorrow – will be a key imperative.
In 2019, McKinsey & Company identified job disruptions at a similar magnitude, finding that between 40 million and 160 million women globally could need to transition occupations by 2030, often into higher-skilled roles.
New analysis conducted in partnership with LinkedIn shows that women are, on average, heavily under-represented in most emerging professions. This gap is most pronounced across our “cloud computing” job cluster where only 12% of all professionals are women. The situation is hardly better in “engineering” (15%) and “Data and AI” (26%), however women do outnumber men in two fast-growing job clusters, “content production” and “people and culture”.
Three key strategies will be essential to hardwire gender equality into the future workplace: to ensure women are equipped in the first place – either through skilling or reskilling – with disruptive technical skills; to follow-up by enhancing diverse hiring; and to create inclusive work cultures.
What the leaders are saying
“For Royal DSM, the Hardwiring Gender Parity initiative is not only relevant for equality challenges we face today but also those in the future as it puts organizations on the right path. In this journey, mindset and behaviours – although important foundations – cannot deliver the paced changes we need to achieve gender parity. A redesign of the organizational structure and talent processes is needed. We look forward to working with the World Economic Forum and other signatories to deliver on this important pledge and contribute to further reducing the gender gap,” said Geraldine Matchett, Co-Chief Executive Officer designate and acting Chief Financial Officer, Royal DSM.
“Equality is critical to our success and the foundation of our humanistic values. As an employer, we are committed to fair and equal treatment, because it is the right thing to do and because equality in the workplace leads to high performing teams and a wider talent pool for us to recruit from. By co-founding the Hardwire Gender Parity in the Future of Work initiative we are contributing to a more gender equal world, laying the groundwork for equality in top careers of the future. Our commitment is to close the gender gap in every part of our business and ensure equal pay across 30 countries. With our actions, we hope to inspire and empower other companies and organizations to do the same. Let’s take it to the next level, together,” said Jesper Brodin, Chief Executive Officer of the Ingka Group (IKEA).
“With up to 160 million women’s jobs at risk from automation worldwide, it is critical that the private sector support women’s participation in the jobs that are on the frontier of the future workforce. McKinsey & Company is pleased to be the World Economic Forum’s knowledge partner, working to develop insights and solutions that can lead toward future gender parity. We hope that, through our collective efforts, the next decade can be about seeing companies’ stated diversity aspirations becoming reality,” said Kevin Sneader, Global Managing Partner McKinsey.
About the Platform for Shaping the Future of the New Economy and Society
This initiative forms part of the World Economic Forum’s Platform for Shaping the Future of the New Economy and Society. The Platform is committed to building prosperous, inclusive and equitable economies and societies that create opportunity for all. It works on gender parity through research, setting up national public private collaborations to close workforce gender gaps and mobilizing change through business leadership.
Starting with a target of fifty pioneering companies over the course of 2020, the Hardwiring Gender Parity into the Future of Work initiative will tackle gender gaps in key professions and their respective skillset. It welcomes global and local companies to join and co-build this expanded initiative.
4 Crucial Factors That Helps in Selecting the Ideal FX Expert Advisor
The forex market is increasingly expanding at a rapid pace with millions of active traders executing trades daily. The use of advanced technology is also preferred among traders who are involved in active trading. As automation is slowly taking over most industries and businesses, the forex market is also noticing a rise in the use of FX expert advisors to execute a trade on behalf of an investor.
But even with the tons of perks that these FX EAs are capable of, you must consider certain factors before investing in one.
But before we jump into discussing the factors that indicate an EA’s reliability, let us get a clear understanding of what forex EAs are and how they work.
Explaining FX Expert Advisors
An EA is a software program that offers the benefit of automated trading to investors worldwide. A forex EA is responsible for identifying the best possible timings for opening a position with the help of certain in-built algorithms and indicators. As the market is active for 24-hours straight, using an EA will certainly be useful; it is immune to any emotional factors and can facilitate you to make high-profitable trades by identifying the ideal entry points.
Developed in MQL, an EA can operate on MetaTrader 4 or 5 and comes up with complex strategies of trading based on a certain mathematical pattern. The ways expert advisors tend to outperform manual trading practices involve their high-accuracy results along with faster data-processing technology which aids in better analysis.
Although being quite similar and often mistaken as the same, a forex EA slightly differs from a forex robot in terms of its functions. While forex robots can take care of executing a trade on behalf of you, and EA will simply advise you when to initiate a trade allowing you to have full control over initiating a trade.
Points to consider before investing in an EA
Investing in an expert advisor requires certain factors to keep in mind that will help you to maximize your success rate with the benefit of automation.
- Performing a thorough background check
The security factor should be on your priority list while opting for an expert advisor. Thorough research along with a complete background assessment is necessary to determine the authenticity of the EA. You can rely on reviews and testimonials of other users as well as checking the credentials of the vendor. Some factors that decide the genuineness of the EA include secure payment options, refund guarantees in case of false claims, transparent business practices, and development by trustworthy programmers.
- Conduct satisfactory research
It is common to come across many catchy claims of instant and guaranteed profit while opting for an EA. But these commercials fail to mention that expertise is the most critical asset you will need to succeed in this industry. You can immediately notice risk factors when anyone makes exaggerated and unreasonable statements if you have a good understanding of how the foreign exchange market works. While many appropriate automated trading systems are useful in leveraging your trading career, you may also come across many fraudulent scenarios in this industry. Thus only proper learning will provide you with the information you need to prevent being a target of these frauds.
- Get familiar with basic EA stats
Reliable expert advisors are generally introduced to the market after a long process of backtesting performed by the developers. While selecting an EA you will most likely come on certain statistics including the profit factor, drawdown and expected payoff that demonstrate its performance. As an investor, you need to be knowledgeable about these stats, what they mean and how they can impact your trading style before finalizing an EA.
- Perform independent testing
The final step will always be to verify the capabilities of an expert advisor along with checking the backtested results. You can rely on a demo account or a trial version of that EA easily before making the final call.
Selecting the ideal forex EA can be challenging irrespective of the level of experience you have in this. However, following these tips as well as your experience can make this process easier and worthwhile.
No pathway to reach the Paris Agreement’s 1.5˚C goal without the G20
“The world urgently needs a clear and unambiguous commitment to the 1.5 degree goal of the Paris Agreement from all G20 nations”, António Guterres said on Sunday after the Group failed to agree on the wording of key climate change commitments during their recent Ministerial Meeting on Environment, Climate and Energy.
“There is no pathway to this goal without the leadership of the G20. This signal is desperately needed by the billions of people already on the frontlines of the climate crisis and by markets, investors and industry who require certainty that a net zero climate resilient future is inevitable”, the Secretary General urged in a statement.
The UN chief reminded that science indicates that to meet that ‘ambitious, yet achievable goal’, the world must achieve carbon neutrality before 2050 and cut dangerous greenhouse gas emissions by 45 % by 2030 from 2010 levels. “But we are way off track”, he warned.
The world needs the G20 to deliver
With less than 100 days left before the 2021 United Nations Climate Conference COP 26, a pivotal meeting that will be held in Glasgow at the end of October, António Guterres urged all G20 and other leaders to commit to net zero by mid-century, present more ambitious 2030 national climate plans and deliver on concrete policies and actions aligned with a net zero future.
These include no new coal after 2021, phasing out fossil fuel subsidies and agreeing to a minimum international carbon pricing floor as proposed by the International Monetary Fund (IMF).
“The G7 and other developed countries must also deliver on a credible solidarity package of support for developing countries including meeting the US$100 billion goal, increasing adaptation and resilience support to at least 50% of total climate finance and getting public and multilateral development banks to significantly align their climate portfolios to meet the needs of developing countries”, he highlighted.
The UN Chief informed that he intends to use the opportunity of the upcoming UN General Assembly high-level session to bring leaders together to reach a political understanding on these critical elements of the ‘package’ needed for Glasgow.
A setback for Glasgow
The G20 ministers, which met in Naples, Italy on July 23-25, couldn’t agree to a common language on two disputed issues related to phasing out coal and the 1.5-degree goal, which now will have to be discussed at the G20 summit in Rome in October, just one day before the COP 26 starts.
Economic Recovery Plans Essential to Delivering Inclusive and Green Growth
EU member states must ensure careful and efficient implementation of economic recovery plans that support inclusion and growth to bounce back from the worst impacts of the COVID-19 pandemic, says a new World Bank report.
The World Bank’s latest EU Regular Economic Report – entitledInclusive Growth at a Crossroads – finds that the unprecedented and exceptional policy response of governments and EU institutions has cushioned the worst impacts on employment and income. However, the pandemic has exposed and exacerbated deep-seated inequalities, halting progress in multiple areas including gender equality and income convergence across the EU member states. A further three to five million people in the EU today are estimated to be ‘at risk of poverty,’ based on national thresholds benchmarked before the crisis.
The report highlights that effective recovery programs can reinforce progress on the green and digital transitions underway across the region. With the crisis continuing to unfold, government support schemes and the rollout of vaccines in a timely manner will remain essential to bolstering the resilience of firms, workers, and households. Given the longevity of the crisis and the impact on the most vulnerable, many governments have opted to extend the duration of support throughout 2021.
“A green, digital and inclusive transition is possible if economic policy is increasingly geared towards reforms and investment in education, health and sustainable infrastructure,” said Gallina A. Vincelette, Director for the European Union Countries at the World Bank.
With an output contraction of 6.1 percent in 2020, the COVID-19 pandemic has triggered the sharpest peacetime recession in the EU. Governments will need to ensure targeted and active labor market policies are in place to support an inclusive recovery. The report highlights that special attention should be given to already vulnerable workers such as youth, the self-employed, and those in informal employment. These groups are more likely to face employment adjustments during the crisis and may face longer spells of unemployment or periods outside the labor force.
Women have been disproportionately impacted by work disruptions during the pandemic, particularly in the sectors facing the worst effects of the crisis. This was also highlighted in the 2020 Regular Economic Report produced by the World Bank, which found that at least one in five women will face difficulty returning to work compared to one in ten men. It has been harder for women to resume work due to the sectors and occupations that they are working in and because of the additional care burdens that have fallen disproportionately on their shoulders – a manifestation of increasing inequities in home environments.
“As recovery takes hold, it will be important for carefully targeted and coordinated policy support to continue to mitigate the impact of the crisis, with measures increasingly targeted towards vulnerable households and viable firms. Policy makers will also need to strike a balance between helping those that need it most, while enhancing the productivity of the economy and keeping debt at manageable levels,” added Vincelette.
World Bank’s Regional Action in Europe and Central Asia
To date, the World Bank has committed more than $1.7 billion to help emerging economies in Europe and Central Asia mitigate the impacts of COVID-19. Since April 2020, around $866 million has been approved through new emergency response (MPA/Vaccines) projects. In addition, up to $904 million is being reallocated, used, or made available from existing projects and lending, including additional financing, to help countries with their COVID-19 response.
The World Bank’s Global Economic Prospects suggests that growth will be strong but uneven in 2021. The global economy is set to expand 5.6 percent—its strongest post-recession pace in 80 years. The recovery largely reflects sharp rebounds in some major economies.
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