The Women’s Entrepreneurship Accelerator, a global multi-partner initiative launched by Mary Kay Inc. in 2019, joined the Generation Equality Forum in Paris through the “Drivers of Change” Program. The Generation Equality Forum was assembled by UN Women and co-hosted by the governments of Mexico and France.
Virtual engagement of the forum included 50,000 people, gathering 1,000 commitment-makers and recording $40 billion of investments for gender equality which will support a five-year plan to act for equal across seven areas of action.
“We believe that gender-responsive procurement can make an enormous impact which accelerates the inclusion of women-owned businesses throughout the supply chain,” said Julia Simon, Chief Legal & Diversity Officer at Mary Kay Inc. “The Accelerator encourages the public and private sectors to make inclusive procurement a priority and drive the systemic change that women need. Supporting women entrepreneurs is critical for sustainable growth.”
Elizabeth Vazquez, CEO and Co-Founder of WEConnect International and Jamila Belabidi, Purchases Director, Global Women Economic Empowerment & Global Innovation, Procter & Gamble were panelists.
“It’s a $93 trillion global economy, but women continue to be invisible as suppliers of products and services in our global value chains,” said Vazquez. “This massive market failure must be corrected with urgency so that more women can contribute to and benefit from inclusive economic prosperity and job creation in support of SDG5.”
At the event, the Accelerator committed to empower 5 million women by the end of 2030 by “alleviating the main economic and social roadblocks faced by women entrepreneurs,” and corporations in attendance made substantial investments toward the empowerment goals.
“At P&G, our focus on gender equality is foundational and integrated into our business, as such, we are committed to spending $10 billion with women-owned and women-led businesses by 2025,” said Jamila Belabidi, Purchases Director, Global Women’s Economic Empowerment & Global Innovation at Procter & Gamble.
