IFC and Nepal Stock Exchange ring the bell for gender equality

Published On: March 23, 2022 03:25 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 23: International Finance Corporation (IFC) joined the Nepal Stock Exchange (NEPSE) to 'Ring the Bell for Gender Equality,' an annual global event that highlights how the private sector can spur women’s participation in the global economy and promote sustainable development.

Accelerating the pace of gender parity could lead to important economic, environmental, social, and governance gains in emerging and frontier markets. If women fully participated in formal labor markets, the global gross domestic product (GDP) would increase by $28 trillion, according to the Sustainable Stock Exchanges Initiative.

Issuing a statement, the financial institution, a growing body of research shows a range of business benefits associated with gender diversity on corporate boards and in senior leadership. “It also underlines the positive influence of gender-diverse management and boards on a company’s sustainability profile, including improved financial performance and shareholder value, and rising investor confidence, among others.”

In Nepal, the number of women on corporate boards is extremely small. An IFC study in the country's power sector shows that out of 132 board members from 20 companies, only 12 (9 percent) are women. Despite Nepal's Companies Act 2066 BS requiring at least one or more female shareholders, only three out of 10 public companies have women on their boards.

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