Bhubaneswar: In developing countries, 43 per cent of the agricultural labour force is women, while the investment in the sector is only about 7 per cent. According to the Food and Agriculture Organisation of the UN, if more funds are invested in women farmers the production in agriculture would be around 30 per cent and as it is anticipated that climate change can reduce agricultural production by 2030, can also be stopped. FAO indicates that the climate has an intimate relationship with agriculture. Women’s livelihoods depend mainly on forests, rivers, lakes and oceans. They know of these resources and can take the lead in preserving them. On the other hand, in the case of climate change, women face more difficulty and pain compared to men. Women’s status needs and perspectives are rarely taken into consideration in high-level discussions or policy plans related to climate change while it has a devastating impact on their lives. This is unfair and unethical at the same time. As women play a key role in consumerism, social leadership, labour and entrepreneurship, their cooperation is essential to the success of the climate projects. We also know that women investing in these sectors are a good business. The industries that hold at least half of the higher positions for women are more profitable with higher product sales and better returns on investment. Though around 80 per cent of the consumers buying decision is taken by women, so enterprises with more women produce better selling products. Investing in women in the top positions starting with workers can provide a better climate. Women are more likely to focus on sustainability than men on starting a business. Companies that have women on their boards are more likely to improve their energy, efficiency and reduce losses. It also increases investment in renewable energy. Similarly, the farms that have had women representatives on the board for more than five years are also likely to reduce their energy consumption by 60%, reduce their greenhouse gas emissions by 39%, and reduce water use by 46%.
The number of investors in the companies is growing. They are not just judging by their financial successes, rather they are considering the efforts to increase environmental and biodiversity commitment and gender equality. A Latin American company, Eco Enterprises, is encouraging people to invest in biodiversity. It is giving more importance to how better results will be shown. This company has a good record of helping eco-friendly businesses with how they will work smoothly in any place and how they can create financial opportunities for women in rural areas.
The owner of Eco Enterprises is Tami Neumark. The woman is taking the farm in the right direction. All most all the members of its management team are women. The farm has so far raised money for three investment funds. In the third fund, the European Investment Bank has invested around twenty million dollars. Now the third fund has decided to distribute 15% of its capital among the women-owned or women-led companies and as per the investment and equity rules, it will encourage the farms to recruit women in 50% of their job. It can be understood from these goals that this company has provided itself eligible in the 2X challenge ( to ensure the participation of women in the economy by improving their socio-economic power).
By creating more opportunities for women globally and increasing their participation in the financial sector, the UN sustainable development goals can be achieved. By accepting the need for it, EIB is decreasing gender disparity by increasing its projects and applying the 2X challenge criteria. From 2019 it has started recruiting women in investments and determining the investment level in women-run farms. Such standards have been recognised globally. This helps EIB and its partners to better assess their gender impact. EIB, with the help of the CDC groups, London’s Development Finance Institutions, and the European Bank of Reconstruction and Development, has recently prepared a guide for Gender Smart Climate Finance. It outlines ways to include women in climate change. It is no big deal to bring equality by eradicating gender discrimination, rather this is a turning point for the whole human race, stated the Secretary-General of the United Nations, Antonio Guterres. By effectively managing climate resources, the world can continuously develop its vision by addressing both globalisation and gender inequality.