The value of gender diversity to businesses and economies is well understood. Fortunately, a lot of progress has been made over the decades, with much greater participation by women in employment and education. Yet, the size of the gender equality challenge remains tremendous.
It will take an estimated 131 years to reach gender parity globally according to the World Economic Forum’s latest Global Gender Gap Report – meaning, it will take more than four generations for women to be on equal footing with men in key parts of society – health and education, economic opportunity and political empowerment.
When it comes to women’s representation in leadership, MSCI’s Women on Board and Beyond 2023 report shows that globally, board leadership roles are still mostly occupied by men. Only 9.1% of chair roles and 6.5% of CEO roles were held by women in 2023. In Mainland China and Hong Kong, female representation at the CEO level was 6.7% and 4.4% respectively.
So why are we still so behind on gender parity and equality?
“The reasons are complex but one key challenge is a lack of financing,” shared Bonnie Y Chan, HKEX’s newly appointed CEO, in her opening speech at the Exchange’s annual Ring the Bell for Gender Equality event on International Women’s Day (IWD) 2024.