UN Report: $10 Trillion Annual Loss from Neglecting Gender Equality

Governments worldwide are missing out on $10 trillion annually by neglecting to invest in women and gender equality, according to a UN report. The Gender Snapshot highlights that inadequate education for young women costs the global economy $10 trillion yearly. Low- and middle-income countries could lose $500 billion over five years if they don’t close the internet gender gap. Supporting female farmers could boost global GDP by $1 trillion.

At current rates, child marriage could persist until 2092. The report also notes that 47.8 million more women face food insecurity than men. It could take 137 more years to end extreme poverty for women. Climate change could push 158 million more women and girls into poverty than men.

Papa Seck, UN Women’s research head, emphasizes the high cost of inaction and the potential gains from gender equality. No country has all necessary laws to prevent discrimination, gender-based violence, and ensure equal rights. Over half of 120 countries restrict women from certain jobs and don’t classify rape based on consent.

In the UK, Rachel Saunders suggests new laws mandating salary transparency and sex offender alerts. Despite existing laws like the Equality Act 2010, gender pay gaps persist, and parental leave expectations remain skewed.

Jemima Olchawski of the Fawcett Society warns against complacency, noting ongoing inequalities and the Taliban’s harsh restrictions on Afghan women. Ezel Buse Sönmezocak advocates for funding feminist movements to prevent backsliding. The report serves as a call to action, urging bolder steps toward the UN’s sustainable development goals.