This archive report was first published on 6 July 2021.
On July 6, 2021, the Generation Equality Forum concluded with a significant milestone: nearly $40 billion committed towards accelerating gender equality in the next five years.
This funding addresses a long-standing financial deficit that has hindered the implementation of the Beijing Platform for Action, a roadmap for attaining gender equality across the globe, for over 25 years.
Gender equality programs currently receive a mere four percent of bilateral aid, a small fraction of the financing needed for thousands of women and girl-focused projects worldwide.
Furthermore, 62 percent of bilateral aid is gender-blind, according to data from the Organisation for Economic Co-operation and Development (OECD), which tracks bilateral aid allocated in support of gender equality and women's empowerment.
The financial investments have drawn optimism towards reviving and speeding up progress towards ending gender-based violence (GBV), promoting women's economic rights, and sexual and reproductive health and rights.
Additionally, the investments aim to support feminist action for climate justice, feminist movements and leadership, technologies, and innovations that promote equality between men and women.
Philanthropic foundations have pledged to grow the purse by $4.5 billion, with a total of $38.5 billion committed, including $21 billion from governments and public sector institutions, $13 billion from the private sector, and $4.5 billion from philanthropic foundations.
Notably, the United States government has committed $1 billion to support programs focused on ending violence against women and an additional $175 million to prevent and respond to GBV globally.
The Canadian government has also pledged $100 million to address inequalities in the care economy worldwide, a sector where women spend more than nine hours in unpaid labor.
At the forum, nearly 50,000 people attended virtually, and at least 440 civil society and 94 youth-led organizations made over 1,000 policy and program commitments to improve the lives of all genders.
Phumzile Mlambo-Ngcuka, Executive Director of UN Women, stated, "The Generation Equality Forum marks a positive, historic shift in power and perspective. Together we have mobilised across different sectors of society, from south to north, to become a formidable force, ready to open a new chapter in gender equality."
Delphine O. [email protected], Secretary General of the Generation Equality Forum, added, "By implementing a new way of tackling global issues through efficient multilateralism, the Generation Equality Forum reversed the priorities on the international agenda and made gender equality, for too long underestimated, a long-term issue for the international community."
