The United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) in collaboration with the UN Global Compact and the Egyptian Exchange, launched the global campaign “Ring the Bell for Gender Equality” in sustainable development and businesses by ringing the opening bell of the Egypt Exchange.
The event takes place in the lead up to International Women’s Day and the 20th Anniversary of the Beijing Declaration and Platform for Action, in order to increase awareness about the importance of gender equality in sustainable development and businesses. The event will take place in 6 other countries (India, Nigeria, Turkey, Poland, Sweden and New York) in collaboration with UN Women and UN Global Compact. The event comes in the context of the celebrations associated with the International Women’s Day.
The opening session was attended by H.E. Ms. GhadaWaly, Minister of Social Solidarity; Ambassador Mervat Tallawy, President of the National Council for Women; Mr. Mohamed Naciri, UN Women Regional Directora.i.; Dr.Mohammed Omran, Chairman of the Egyptian Exchange, and a number of the leading Egyptian companies inapplying the principles of gender equality.
The event aimedat raising awareness on the importance of promoting gender equality in the private sector. In addition, it encourages business leaders, from around the world, to sign and commit to the Women Empowerment Principles; and also, shed the light on the leading companies in this field,which have already taken concrete steps to empower women in the work place and community.Upto this moment, 854 business leaders, from around the world, have committed to the Women Empowerment Principles. In Egypt, only 6 companies have committed to Women Empowerment Principles represented in the event by the Chairmen of Pharmaceutical Holding Companies and Sekem Group Company.
“We have a growing interest to support and disseminate the principles and standards of social responsibility among Egyptian corporations, whereas studies have indicated the role of social responsibility in the corporate performance and the effect on improving the corporate’s financial position. In addition to the benefits that will impact the whole society as a result of the existence of private companies that believe in the importance of corporate social responsibility (CSR)”, highlighted Omran.
Omran also added that social responsibility is not limited to charity work, as some might think, but it extends to include interior work systems, improving the way of dealing with the environment, respecting workers’ rights, fighting against corruption and abiding by the rules of governance; in addition to, achieving gender justice. All of the latter comes under the umbrella of sustainability. In recognition of this critical role, the Egyptian Exchange was at the forefront to encourage Egyptian companies to expand the application of social responsibility standards and principles, stressing that the coming period will witness a number of events and achievements.
Focusing on the role of women in the financial non‐banking services sector, Omran stated in his statement that the Egyptian Exchange has a clear interest in empowering women to play leading roles in the Egyptian capital market system, where Egyptian women account for 7% of the leadership positions in the Egyptian Exchange in addition to the 25% of the labor force in the Egyptian Exchange and on the level of brokerage firms, more than 20% of the brokers are the women. “Our determination to continue to support the presence of Egyptian women and give them the opportunity to gain the status they deserve as an essential active partner the Egyptian society” added Omran.
“I am honored to say that Egypt is the first country and up till now the first Arab country participating in the initiative. You are putting the principle of gender equality on the top of the agenda; the private sector plays an essential and pivotal role in supporting women’s economic empowerment all around the world. You could act as a leading entity to change the wage gap, and ensure equality in the workplace and to support women as a leader in the business sector”.
The Egyptian Exchange acts as an active partner in the UN initiative for sustainable stock exchanges that have been launched in 2012, where the Egyptian Exchange was one of five stock exchanges who founded the initiative (and these are: Egyptian Exchange, the Nasdaq Stock Exchange Market, and the Bovespa Stock Exchange in Brazil, and the Johannesburg Stock Exchange in South Africa, and Istanbul Stock Exchange in Turkey. Lately, the Egyptian Exchange was chosen as a model of reference for communication of stock markets with the acting parties in the market. The United Nations Commission appreciated the efforts of the Egyptian Exchange in the field of sustainability and effective communication with the parties of the market.
