ISE hosts global Women in ETFs “Ring the Bell for Gender Equality” event
Women in ETFs (WE) took part in a “Ring the Bell for Gender Equality” ceremony at the Irish Stock Exchange (ISE) today as part of a global collaboration across 43 stock exchanges around the world to celebrate International Women’s Day.
Event raises awareness of the business case for women’s economic empowerment
The event aims to raise awareness about the business case for women’s economic empowerment and the opportunities for the private sector to advance gender equality and sustainable development and was held in partnership between WE, UN Global Compact, UN Women, the Sustainable Stock Exchanges (SSE) Initiative, IFC and the World Federation of Stock Exchanges (WFE).
Significant challenges in advancing gender equality
A new report from the UN SSE Initiative highlights how exchanges and businesses can and are advancing gender equality. It also cites the significant challenges faced, including the fact that women take home 1/10 of global income, while accounting for 2/3 of global working hours.
Female representation in leadership improves key performance metrics
The report also highlights evidence that female representation in leadership improves key performance metrics such as return on assets and earnings per share and that the global economy could be up to $28 trillion larger in 2025 if gender gaps were eliminated. However, according to a 2016 review of 1,000 listed companies by Bloomberg LP, the average representation of women in the leadership was 23% in senior management; 21% on boards; 4% have a female chairperson; and 3% have a female CEO.
Ireland is an important domicile for European Exchange Traded Funds (ETFs)
Ireland is an important domicile for European Exchange Traded Funds (ETFs) accounting for over $250 billion or 57% of the assets under management in European domiciled ETFs. The ISE is the #1 exchange worldwide for the listing of ETFs and investment funds according to statistics published by WFE. The significant role Ireland plays in the European ETF market prompted the establishment of a local WE group in Dublin in 2016 and this has grown substantially since then.
Almost 2,000 work in the ETF industry in Ireland
Marie Coady, WE Dublin Leadership and PwC EMEA ETF Leader, noted: “We are proud to bring this global collaboration to Dublin given the central role Ireland plays in the European ETF ecosystem. Currently almost 2,000 people are working in this industry in Ireland and WE provides an excellent forum for networking and education on topical issues in the ETF space. The bell ringing event is a fantastic opportunity to bring together key players within the ETF industry here in Ireland and provides an ideal forum for supporting female talent particularly as further opportunities should arise as organisations look to Dublin to locate operations in a post-Brexit world.”
ISE is the #1 exchange worldwide for listing investment funds and ETFs
Deirdre Somers, CEO, Irish Stock Exchange, said: “We are delighted to be part of the global “Ring the Bell for Gender Equality” ceremony and help raise awareness of the business case for women’s economic empowerment. The ISE is the leading exchange globally for listing investment funds and ETFs and it is wonderful to recognize the significant expertise in the ETF industry in Ireland and the WE community and its contribution to Ireland’s success in the funds industry on International Women’s Day.”
Gender equality is central to driving the global economy
Deborah Fuhr, founding member of Women in ETFs and Managing Director of ETFGI, commented on the above observations, saying: “It is facts like these that brought together a global movement. The key message being that gender equality is central to driving the global economy and the private sector has an important role to play”.
Notes to Editors
About Women in ETFs
Women in ETFs (WE) is the first women’s group for the ETF industry. Founded in January 2014, WE is a non-profit organization that brings together 2,500 members, including women and men, in chapters in major financial centers across the United States, Canada, EMEA and Asia Pacific to further the careers of women by leveraging our collective skill and ambition.
About Sustainable Stock Exchanges (SSE) Initiative
The SSE is a peer-to-peer learning platform for exploring how exchanges, in collaboration with investors, regulators, and companies, can encourage sustainable investment and enhance corporate transparency, and ultimately performance, on ESG (environmental, social and corporate governance) issues. The SSE is convened by the UN Conference on Trade and Development (UNCTAD), the UN Global Compact, the UN Environment Program Finance Initiative (UNEP FI), and the Principles for Responsible Investment (PRI).