The United Nations Development Programme (UNDP) has, on the occasion of International Women’s Day, underscored the critical importance of enhancing women’s financial resilience as a key driver for sustainable development.
In a social media post, the UNDP emphasized the pivotal role of accurately quantifying the risks faced by women and bridging the gender gap in the actuarial profession as essential steps towards achieving this goal.
“Through accurately quantifying risks faced by women or bridging the gender gap in the actuarial profession, the future of development counts on increasing women’s financial resilience,” said a statement contained in a blog post by the UNDP
The actuarial profession plays a crucial role in assessing and managing financial risks, making it a vital component in empowering women economically. .
According to the UNDP, two in every ten jobs in science, engineering, and information technology globally are held by women and UN Women predicts that the labor workforce participation rate for women will remain below pre-pandemic levels in 169 countries.
By breaking down barriers and encouraging more women to pursue careers in actuarial science, the industry can benefit from diverse perspectives and a better understanding of the financial vulnerabilities faced by women.
Moreover, the UNDP’s call to bridge the gender gap in the actuarial profession highlights the importance of promoting greater representation and participation of women in this field.
This emphasis on women’s financial resilience aligns with the UNDP’s broader mission of achieving the Sustainable Development Goals (SDGs), particularly Goal 5, which focuses on achieving gender equality and empowering all women and girls.
