Asset managers call for gender equality in climate finance

Asset managers call for gender equality in climate finance
Attendees take photographs in front of a banner at the COP27 climate conference in Sharm El-Sheikh, Egypt (Islam Safwat/Bloomberg)

Asset managers have said women “hold the key” to unlocking success in climate finance, in a letter calling for more gender parity in the sector.

Aviva, Legal and General Investment Management and Generation Investment Management have all signed a letter released today (November 7) outlining the steps that need to be taken by allocators of public and private climate finance in order to improve gender equality in the sector.

“We cannot solve the climate crisis without involving women,” the letter said.

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The asset managers, along with a number of banks and consultancy firms, said in many parts of the world women and girls are disproportionately impacted by the effects of climate change and the erosion of nature.

“At the same time, women hold the key to more equitable communities, more thriving economies, and delivering a just transition to a more sustainable future for the planet,” it said.

Although there has been increasing acknowledgement of the importance of women’s involvement in the action on climate change, it said, far too little progress has been made to increase that involvement.

“We need women’s leadership at every level of the climate finance and business value chains,” it said.

The letter lists four “calls to action” targeting organisations allocating public and private finance:

  1. Improve women’s inclusion within the financial system and ability to access climate finance
  2. Integrate gender into public and private climate policy frameworks
  3. Develop gender metrics and integrate them into climate finance reporting
  4. Improve gender-balanced representation in decision making roles in climate finance and climate-smart businesses

The letter’s release coincides with the 27th United Nations Climate Change Conference, which is being held in Egypt.