On March 15, 2024, the International Institute of Green Finance (IIGF) at the Central University of Finance and Economics (CUFE), in collaboration with the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women), successfully hosted a salon event in Beijing named “Sustainable Financing for Gender Equality: Practices, Strategies, and Innovations in ESG Framework.” The salon aimed to facilitate the exchange of gender-friendly financial practices among institutions and explore the feasibility of integrating gender factors into ESG management and investment, as well as innovative financial product development. Experts from financial institutions, businesses, and research institutions, both domestic and international, discussed the current status of ESG disclosure, particularly focusing on social and gender inclusion perspectives. The salon provided a platform for various institutions to exchange ideas, with the goal of collectively exploring how ESG disclosure can promote gender equality and contribute to sustainable corporate development.
The Trial Guidelines for Sustainable Development Reporting, unveiled by China’s three major stock exchanges in February 2024, emphasized the need for companies to disclose gender diversity data among their employees, aiming to accelerate the integration of gender perspectives into the ESG framework. With the “Beijing Declaration and Platform for Action” approaching its 30th anniversary, there is a renewed focus on its goals and SDG 5 concerning gender equality and the empowerment of women and girls. Recognizing the significance of incorporating gender considerations into investment and financing activities, it is viewed as pivotal for promoting women’s empowerment through financial mechanisms.
During the salon event, Ms. Yin Hong, Vice-Chair of the Green Finance Committee at the China Society for Finance and Banking, Ms. Yang Chenhui, Co-Director of the ESG Center at IIGF, and Ms. Zhang Yu, Financing for Gender Equality Analyst at UN Women China, delivered keynote speeches. They discussed the current ESG development both domestically and globally, the implementation of ESG disclosure guidelines by Chinese companies, and the efforts to integrate gender considerations into the ESG framework. Professor Liu Feng, Chief Economist at IIGF, also shared his views on gender finance development and promoting gender equality through ESG disclosure, drawing from his own experience.
During the ESG practices sharing session, experts from various financial institutions, businesses, and research institutions shared their experiences. They unanimously stressed the importance of gender equality practices for sustainable development within the ESG framework. Discussions centered on integrating a gender perspective into company ESG frameworks and disclosures, assessing the feasibility of incorporating gender indicators, and exploring potential business opportunities. Additionally, there were talks about developing more comprehensive gender equality assessment criteria, including factors like employment, training, and labor conditions in ESG disclosure guidelines. Suggestions included disclosing the number and proportion of female employees, their training status, and welfare. Finally, participants highlighted the need to address age discrimination and strive for gender equality and balance in the workplace.
The salon provided a platform for institutions to share best practices and innovative financial solutions, emphasizing the importance of inclusive development in the financial sector. Looking ahead, the International Institute of Green Finance plans to strengthen its collaboration with UN Women, focusing on exploring new ideas and approaches in gender finance. Their goal is to raise awareness of gender finance principles and best practices within the Chinese financial market and foster the growth of gender finance initiatives in China. Meanwhile, both parties will jointly host more events on women’s issues, facilitating communication and sharing, and look forward to collaborating with more institutions to promote gender equality through finance, addressing current challenges in gender finance development for a more inclusive and sustainable future.