According to UN Women, by 2030, more than 340 million women and girls worldwide will still live in extreme poverty.
This makes the 2024 International Women's Day theme, "Invest in women, accelerate progress," even more urgent.
Women play a significant role in the global economy, with almost 60 percent working in informal jobs.
However, this figure is higher in low-income states, where 90 percent of women work in the informal economy.
Despite this, many countries still lack equal pay for equal work.
There is still a need for more women to participate in science, technology, and engineering, which were previously dominated by men.
Governments are working to empower women as the international community commemorates Women's Month.
It is a time to focus on supporting women in achieving equality.
When women are economically empowered, they become more involved in politics and social activities that affect their lives.
Additionally, economic empowerment can enhance disaster risk reduction and mitigation efforts.
Women who have financial independence are more knowledgeable about their rights.
The Philippines has implemented various laws that aim to safeguard and empower women.
However, the enforcement of these laws has been inconsistent because many women are unaware of them, and those responsible for enforcing them may not be familiar with the provisions or may choose to disregard them.
To achieve Sustainable Development Goals related to gender equality, the UN estimates that an additional $360 billion a year is needed in developing countries alone.
UN Women is urging governments to increase women’s access to financing, but the requirements can be daunting.
By the UN’s estimates, micro, small, and medium enterprises owned by women around the world are underfunded by a whopping $1.7 trillion.
But closing this gap can raise annual incomes by an average of 12 percent by 2030.
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