Gender Finance Hub

An SFG Impact Theme

What is Gender Lens Investing?

The Global Impact Investing Network (GIIN) defines GLI as investment strategies applied to an allocation or the entirety of an investment portfolio, which seek to examine gender dynamics to inform investment decisions in order to better and/or intentionally and measurably address gender disparities. This includes:

  • Investing in women-owned or -led enterprises
  • Investing in enterprises that promote workplace equity (in staffing, management, boardroom representation, and along their supply chains); or
  • Investing in enterprises that offer products or services that substantially improve the lives of women and girls

Risks

Financial institutions who ignore gender equality are subjecting their investments to regulatory and performance risks.

 

While the “S” in ESG has typically been less of a focus for regulators than environmental dimensions of sustainability, social factors are the next horizon of regulation and financial institutions need to be ready for these developments.   According to KPMG “regulators expect firms to act now and deliver improvements and greater transparency. Disclosure of D&I policies or reporting of pay information is mainly voluntary, but regulation has been introduced in a small and growing number of jurisdictions.”  There are currently 12 countries that have adopted mandatory board quotas for gender representation and over half of OECD countries (21 of 38, or 55%) now require private sector employers to analyze their pay data and report gender-disaggregated pay information (OECD).  Some of the biggest financial regulatory bodies like the FCA in the UK and the SEC in the USA have implemented listing rules for disclosure around Diversity, Equity, and Inclusion (DEI) and have signaled that if DEI does not improve they will be forced to mandate further action (JD Supra).

 

But risk exposure goes beyond regulatory developments, not considering gender equality in investments can actually put return at risk.  A study by KSA Group found the insolvency rate of companies with all-male boards is 49% higher than those with mixed ones.  And a similar study by Creditsafe, found that companies led by women were 20% less likely to fail than those led by men.  Further, a global study by BCG found that for every USD 1 of investment raised, women-owned start-ups generated USD 0.78 in revenue, whereas those run by men generated only USD 0.31.  Considering gender and other forms of diversity is an important risk mitigation tool, and it can increase upside as well.

Opportunities

Financial institutions who are sensitive to DEI issues tend to unlock significant additional value.

 

It is well-established that companies that are diverse perform better than their less diverse peers. McKinsey’s analysis found that companies in the top quartile of executive team gender diversity were 25% more likely to have above-average profitability.  This translates into higher stock prices.  Morgan Stanley analyzed 1,875 firms on the MSCI World Index and found those with greater gender diversity outperformed less gender-diverse firms by 1.6% globally in 2022. In some regions the results were even more striking, for example 7.1% in Europe, 3.0% in Japan and 2.0% in North America.

 

In addition, women are a significant market that is often underserved by financial institutions. Globally, women’s wealth has shown unprecedented growth over the last decade (UBS). Women now control 32% of the world’s wealth, according to BCG. This will rise at a compound annual growth rate of 5.7% to USD 97 trillion by 2024. Serving women also has additional ancillary benefits as they tend to be clients with more awareness of ESG factors.  64% of women factor ESG concerns into their investment decisions, number that is likely to increase as Gen Z and millennial consumers and investors gain more financial power.

Impact

We can only reach our potential as a global society if everyone is empowered.

 

It is estimated that Global GDP could expand by USD 12-28 trillion if women were to participate in the economy similarly to men.  The European Investment Bank similarly found that greater gender diversity could lead to a potential increase of USD 160 trillion of human capital wealth, and could enhance business performance by 15%.

 

Beyond economic arguments, gender equality has a range of benefits that are good for people and the planet.  Gender equality is a more reliable predictor of peace than a country’s GDP or level of democracy (CMF). Giving women increased access to resources can reduce vulnerability and create more resilient households and communities (UNDP).  Everyone benefits in an equal society.

How to use this Dashboard

 

This dashboard is a resource for you to help you better understand the challenge of achieving gender equality and what gender lens investing is.  It provides practical information that will help you to take action.  In this dashboard you will find:

  • Gender Data from Switzerland and globally, which provides an overview of how we currently are performing on gender equality in society, business, and finance.
  • GLI Funds database that lists all GLI funds managed or domiciled in Switzerland. These funds demonstrate how GLI strategies can be applied in practice.
  • Take Action ideas for investors, companies, policymakers, and other actors.
  • Additional Resources that can help you to practically take action (for example getting certified).

Please feel free to send any questions about gender equality and GLI to

Gender Data

Understanding the state of gender equality in Switzerland can help us to track progress. Here are some key statistics on where were stand on gender equality in Swiss society, business, and investing.

Gender Equality in Swiss Society

The Global Gender Gap Index

The Global Gender Gap Index benchmarks the current state and evolution of gender parity in 146 countries across four key dimensions – Economic Participation and Opportunity, Educational Attainment, Health and Survival, and Political Empowerment. Switzerland is currently ranked 21st globally, however, this was a downgrade from the 13th position in 2021.  It ranks 13th in Europe, which is also a downgrade from 8 in 2021.

Source WEF 

#21

out of 146 globally

  • #13 in 2021
  • #10 in 2020

#13

out of 35 in Europe

  • #8 in 2021
  • #6 in 2020

Proportion of time spent on unpaid care work, by sex

Women continue to spend more time on unpaid care work than men in Switzerland, with the gap widening between 2000 and 2020. This has negative effects on women’s economic opportunities and specifically hurts labour force participation, wages, and job quality.

Source UN Stats 

Proportion of seats held by women in national parliaments (% of total number of seats)

Since 2000, the proportion of seats held by women in Swiss national parliament has nearly doubled. Switzerland is a strong performer when it comes to women’s participation in government, with approximately 10% more women with a seat in national parliaments in Switzerland compared to the EU.

Source UN Stats 

Share of women among tertiary level students

In Switzerland, women make up approximately 51% of students enrolled in universities, whereas in the EU women take up a slightly larger percentage at 54,2%.

Source Swiss Federal Statistics Office 

Gender Equality in Swiss Business

Female Representation in Company Positions by Country (in %)

All countries perform poorly in terms of female representation at the Senior Management and Executives levels, however, representation in the Board of Directors and Workforce is somewhat stronger.

 

Switzerland has particularly low female representation in Executives (14%) but is in the middle of the pack in representation at other levels. Switzerland is one of the countries where women have a low chance of being promoted, but not due to a lack of a pool of working women. Overall, very slow progress can be noticed each year across the board.

Female Representation – Boards (in %)

Female Representation – Sr Management (in %)

Female Representation – Executives (in %)

Female Representation – Workforce (in %)

Percentage of women by industry in 2022

The proportion of women in lower management levels is relatively even across different sectors, except in the MEM sector with only 19%. Banking has only 31% of female workers compared to Pharma and the Public Sector where women make up 41%. The proportion of women in higher levels of management is low with only 16% of women in management in MEM and the Banking Sector. In the Public Sector, women in management are roughly a third at 32%.

Source: Advance Gender Equality in Business

* includes machine, electrical, and mechanical engineering companies as well as companies in related fields.

Gender distribution by management level

The higher the level of management, the lower the proportion of women. At non-management levels, the difference between the women and men proportion in the workforce is low. In contrast, at the top management level, the gap between women and men is significant with only 19% women compared to 81% men at top management level.

Source: Advance Gender Equality in Business

Switzerland Full-/part-time employed, 1992-2022, in %

In Switzerland, more women have been working part-time than full-time since 1992.

The difference has been increasing over the years with more women working part-time and less women working full-time.

Source: Federal Statistics Office

Switzerland Employment : Full-time equivalent employment rate, by sex

In Switzerland and the OECD countries, a much lower proportion of women are working full time compared to men; 57% and 54% respectively in 2021. The proportions have remained fairly consistent over the years.

Source: OECD 

Gender Equality: A European Comparison

Employment rate of women as % of women aged 15–64 years

The employment rate of women between the age of 15-64 years is higher in Switzerland than in the EU, with 76% and 64,9% respectively of women employed in 2022.

Source: Federal Statistics Office

Women employed part-time as % of employed women aged 15–64 years

The proportion of women age 15-64 years working part-time is two times higher in Switzerland than the EU, with 59,9% and 28,4% respectively of women working part-time.

Source: Federal Statistics Office

Self-Employment

The share of self-employed is much higher for men than for women across the three countries displayed below. However, Switzerland has a higher share of self-employed women (with employees) than France and Germany.

Source: OECD

Share of self-employed who are own-account workers

Share of self-employed who are employers

Gender Wage Gap

The gender wage gap has decreased over the years in Switzerland resting at 13,8% in 2022 but is still slightly higher than the OECD average which stands at 12,1% in 2022.

Source: OECD

Gender Lens Investing in Switzerland

All data on GLI in Switzerland comes from Tameo’s 2022 Private Asset Impact Report, which is detailed research on nearly 200 impact investing funds in emerging markets.  It is, therefore, important to remember that this is not a comprehensive study of all Swiss funds in all asset classes but rather a helpful glimpse into one portion of the market.

Source: Tameo

Sector GLI Portfolio Allocation

This graphic shows where funds that take a GLI approach are allocated in terms of sectors, in Switzerland and across all funds studied.

Source: Tameo

Regional GLI Portfolio Allocation

This graphic shows where funds that take a GLI approach are allocated in terms of geographic location, in Switzerland and across all funds studied.

Source: Tameo

Practices Applied in the Investment Process

This graphic shows the practices that are applied by GLI funds in their investment process, in Switzerland and across all funds studied.

Source: Tameo

Practices Applied in the Portfolio Management Process

This graphic shows the practices that are applied by GLI funds in their portfolio management process, in Switzerland and across all funds studied.

Source: Tameo

Country Income Level Exposure

This graphic shows the exposure GLI funds have to different country income levels, in Switzerland and across all funds studied.

Source: Tameo

Employee Gender in Investee Companies

This graphic shows the workforce composition of investee companies in GLI funds in Switzerland.

Source: Tameo

GLI Funds

wdt_ID Logo Fund name and Organisation name Asset class Capital Committed (Millions) Status Vintage Sectors Country of Investment Description about the Fund Description about the Company Link
1 Untitled-design-1.png?img_width=150&img_height=150 AlphaJiri Investment Fund
AlphaMundi Group
Private debt,Private Equity 21 USD
approx 21 EUR
Open 2020 Agriculture
Energy
Economic Development
East Africa The AlphaJiri Investment Fund LP (Mauritius) provides debt, mezzanine and equity finance to fuel the resilience and growth of impact ventures in the Sustainable Food and Renewable Energy sectors, using a value chain approach, with a climate-smart and gender-lens orientation. The focus on the promotion of women’s economic and social opportunities, is both within the investee companies and through the products and services that they offer. The fund harbors a pan-African ambition with an initial emphasis on East Africa. The fund has been investing in African SMEs since 2020, and had allocated a total of USD 6M to 4 SMEs by 31 March 2021. AlphaMundi Group Ltd is a commercial entity, exclusively dedicated to Impact Investing: profitable investments that generate measurable net benefits to society https://www.alphamundigroup.com/alphajiri-fund/
2 Untitled-design-1.png?img_width=150&img_height=150 SocialAlpha Investment Fund (SAIF)
AlphaMundi Group
Private debt 15 USD
approx 15 EUR
Evergreen 2009 Agriculture, Green infrastructure, Economic Development, Financial inclusion/services, Energy, Education Latin America and Sub-Saharan Africa Since 2009, the SocialAlpha impact debt fund finances early-and growth-stage ventures that address the SDGs in Latin America and Sub-Saharan Africa, across sectors including Financial Inclusion, Sustainable Food and Renewable Energy, using a Gender Lens and with an emphasis on rural development. The focus on the promotion of women’s economic and social opportunities, is both within the investee companies and through the products and services that they offer. By 31 March 2021, the fund had invested USD 51M through 105 transactions with 47 companies. AlphaMundi Group Ltd is a commercial entity, exclusively dedicated to Impact Investing: profitable investments that generate measurable net benefits to society https://www.alphamundigroup.com/socialalpha-fund/
3 Untitled-design-2.png?img_width=150&img_height=150 Asteria Funds - People Impact Global Equalities
Asteria Investment Management
Public Equity > Large-cap 18 GBP
approx 21 EUR
Open Q2 2021 Healthcare The Fund invests in companies that contribute to the achievement of sustainable development goals designed to be a scheme to achieve a better and more sustainable future for all and to generate social and/or environmental change with a focus on people inclusion, access to basic needs and well-being and offer superior financial growth prospect. A dedicated Swiss impact investment manager https://asteriaobviam.com/class/asteria-funds-people-impact-global-equities-c-usd/
4 Untitled-design-3.png?img_width=150&img_height=150 PG Impact Credit Strategies
Blue Earth Capital
Private debt 31 USD
approx 31 EUR
Open 2020 Energy
Agriculture
Financial inclusion/services
Education
Healthcare
The Fund promotes environmental or social characteristics, but does not have as its objective a sustainable investment. The Fund has a private market strategy aiming at both generating positive financial return and at achieving positive social and environmental impact, as framed by the SDGs. To achieve these objectives, the Fund integrates impact considerations throughout the investment lifecycle, including a best-in-class impact assessment and reporting methodology.
The Manager invests in the growth of attractive social enterprises with a proven business model, high development potential and a measurable and scalable social/environmental impact.
Blue Earth Capital is an independent
global impact investment firm. They manage investment strategies for an international clientele of professional investors who are seeking investment solutions that offer market-rate returns, while also helping to address pressing social or environmental challenges.
https://www.partnersgroup.com/fileadmin/user_upload/Files/ESG_disclosures/PG_Impact_Credit_Strategies_2020_S.C.A.__SICAV-RAIF.pdf
5 Untitled-design-3.png?img_width=150&img_height=150 PG Impact Investments II
Blue Earth Capital
Fund of funds
Private Equity > Growth
Private debt
Real assets > Real Estate
100 USD
approx 100 EUR
Open 2019 Blue Earth Capital is an independent
global impact investment firm. They manage investment strategies for an international clientele of professional investors who are seeking investment solutions that offer market-rate returns, while also helping to address pressing social or environmental challenges.
6 Untitled-design-4.png?img_width=150&img_height=150 BlueOrchard Covid-19 Emerging and Frontier Markets MSME Support Fund
BlueOrchard
Private debt 207 USD
approx 207 EUR
Open 2020 Financial inclusion/services Kenya
Tanzania
Burkina Faso
Nigeria
Botswana
The fund fund aims to support more than 200 million jobs in emerging and frontier markets through micro, small and medium enterprises (MSMEs). The aim is to provide solutions to the liquidity and solvency challenges of inclusive financial services institutions caused by volatility in financial markets. The Fund provides support funding to financial institutions and is expected to finance 20 institutions, serve three million micro-entrepreneurs and maintain 60 million jobs per each USD 100 million. The Fund qualifies under the the 2X Challenge criteria. BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.blueorchard.com/products/blueorchard-covid-19-emerging-frontier-markets-msme-support-fund/
7 Untitled-design-4.png?img_width=150&img_height=150 EMF Microfinance Fund
BlueOrchard
Private debt 61 EUR Evergreen 2017 Financial inclusion/services An open-end investment fund, which invests in microfinance institutions in emerging markets with the objective to contribute to the creation of prosperity to low-income households BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors.
8 Untitled-design-4.png?img_width=150&img_height=150 Japan ASEAN Women Empowerment Fund
BlueOrchard
Private debt 241 USD
approx 241 EUR
Evergreen 2016 Financial inclusion/services ASEAN. Countries The microfinance fund focuses on empowering women. Japan ASEAN Women Empowerment Fund (JAWEF) is a blended fund that provides loans to microfinance institutions (MFIs) that serve female entrepreneurs (female Small and Medium Enterprises) in the ASEAN region and beyond. The Fund aims at social advancement of women, poverty reduction, fostering growth, job creation and entrepreneurship. BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.blueorchard.com/products/japan-asean-women-empowerment-fund-jawef/
9 Untitled-design-4.png?img_width=150&img_height=150 The Regional Education Finance Fund for Africa
BlueOrchard
Private debt Evergreen 2014 Education
Financial inclusion/services
Africa Initiated by KfW Development Bank and funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), the Regional Education Finance Fund for Africa (REFFA) is the first regional education finance facility for Africa. It aims to provide customized financial services for the education sector in a demand-oriented, financially sustainable, and socially responsible manner.
REFFA provides funding for on-lending to financial institutions in Africa. Financial intermediaries – including banks, microfinance institutions, credit co-operatives and other finance companies – across Africa can receive funding and Technical Assistance (TA) for the expansion and/or development of their education finance portfolios.
BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.blueorchard.com/products/regional-education-finance-fund-for-africa/
10 Untitled-design-4.png?img_width=150&img_height=150 The Microfinance Initiative for Asia Debt Fund
BlueOrchard
Private debt 178 USD
approx 178 EUR
Evergreen 2013 Energy
Financial inclusion/services
India, Cambodia, Sri Lanka, Mongolia, Indonesia, Tajikistan, Uzbekistan, Philippines, Pakistan, Kazakhstan, Kyrgyzstan, East Timor, Vietnam The MIFA is the first microfinance initiative of its size to exclusively target Asian microfinance institutions (MFIs), reaching out to 33 MFIs across 9 countries. The microfinance portfolio will target micro-borrowers, such as micro and small businesses and low-income households to purchase solar home systems, efficient cookstoves and efficient technologies (lighting, refrigeration, motors, and pumps). Objectives:
i) offers market-based debt financing – with an emphasis on local currency and longer-term financing – to financial entities serving micro businesses (“microfinance institutions” or “MFIs”), with a focus on reaching smaller and less developed MFIs;
ii) helps establish microfinance as an asset class with mainstream investors and leverage donor funds with private capital; and
iii) supports capacity building among financial entities serving micro entities.
BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.blueorchard.com/products/microfinance-initiative-for-asia-mifa/
11 Untitled-design-4.png?img_width=150&img_height=150 Microfinance Enhacement Facility
BlueOrchard
Private debt 677 USD
approx 677 EUR
Evergreen 2009 Financial inclusion/services MENA (1%), LAtAm and Caribbean (6%), Eastern Europe and Caucasus (16%), SOuth Asia (23%), SSA (10%), Central Asia (6%), East Asia and the Pacific (16%) The Fund aims to support economic development and prosperity globally through the provision of short and medium-term financing to financial institutions which support microfinance and micro-enterprises (MFIs) facing difficulties in securing financing. In pursuing its development goal, the Fund will observe principles of sustainability and additionality, combining development and market orientations. As a demand-oriented Fund seeking to respond to the needs of the market and of individual MFIs, since inception MEF has supported low income borrowers by providing over USD 2 billion to more than 250 financial institutions active in the microfinance space in about 55 developing countries worldwide. Impact: 740,000 final borrowers reached by MEF funding, including 78% women. BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.mef-fund.com/
12 Untitled-design-4.png?img_width=150&img_height=150 BlueOrchard Microfinance Fund
BlueOrchard
Private debt 2,407 USD
approx 2,407 EUR
Evergreen 1998 ¨ Global emergingand frontier market Our fund provides private loans to microfinance and other financial institutions in emerging markets. These in turn cater to the needs of low-income groups and micro, small, and medium enterprises (MSMEs) who have difficulty accessing funding. In terms of impact, as of June 2022, around 38m MSMEs have been supported by institutions in the portfolio, including 80% female clients. BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors.
13 Untitled-design-6.png?img_width=150&img_height=150 CARE - She Trades Impact Fund
Care Enterprises
Private debt 4 USD
approx 4 EUR
Evergreen 2021 Healthcare
Education
Financial inclusion/services
Agriculture
Water
Energy
Bangladesh, Cambodia, Cameroon, Dominican Republic, El Salvador, Ethiopia, Fiji, Ghana, Guatemala, Honduras, Indonesia, Ivory Coast, Jamaica, Kenya, Philippines, Samoa, Uganda, Vietnam The Care-SheTrades Impact Fund is a blended finance gender investment fund that focuses on bridging the gap for women-centered businesses across target countries in emerging markets.
Because of the disproportionate impact that climate change has on women, the fund also addresses the intersectionality between gender and climate impact by applying a robust climate lens across its investment cycle. The Care-SheTrades Impact Fund will finance women-centered companies that are either women-owned or-led, have a large female employee base, produce essential goods or services that improve women’s prosperity, and/or procure from women-owned or women-led businesses. The Fund is aligned to the 2X challenge
CARE Enterprises, Inc.
– a for-profit subsidiary of CARE USA – has launched its first gender justice impact fund focused on economically empowering women employees, consumers, and suppliers.
https://www.careenterprises.net/impact
14 Untitled-design-7.png?img_width=150&img_height=150 Burning Issues Impact Fund
Chi Impact Capital
Public Equity > Venture
Public Equity > Growth
7 EUR Open Q3 2020 Green infrastructure
Economic Development
Healthcare
Climate
Energy
Europe Burning Issues Impact Fund (BIIF) provides qualified professional investors with the possibility to create place based and deep impact in Europe, while helping to contribute to the most critical and “burning” Sustainable Development Goals and to reverse climate change. The BIIF invests in a new species of entrepreneurs with an integrated business mission to solve a burning social or environmental issue. These companies are for-profit European-based enterprises that provide transformative and typically tech-heavy and scalable solutions. Chi Impact Capital is an independent Impact Investment Advisory firm based in Zurich. Chi Impact Capital has a comprehensive Impact Methodology in place and defines, measures and reports impact goals for each advised investee company and also applies a gender-lens as well as a multi-species-lens. https://chi-impact.com/
15 Untitled-design-8.png?img_width=150&img_height=150 Food Securities Fund
Clarmondial
Private debt 38 USD
approx 38 EUR
Evergreen Q2 2021 Agriculture Emergingand developping markets The Food Securities Fund provides working capital loans to sustainable agriculture companies in emerging and developing markets. It uses an innovative blended finance approach to promote sustainable development through agricultural value chains. By offering loans that cover the entire agricultural cycle, the Fund enables its borrowers to provide increased pre-harvest support to farmers. By end of 2021, The Fund’s borrowers employed close to 700 staff and supported rural livelihoods by purchasing agricultural commodities from ca. 40’000 smallholder farmers, thereof 40% women. Clarmondial is an independent investment advisory company
that focuses on practical, profitable and creative solutions for social and environmental businesses and their funders.
https://www.foodsecuritiesfund.com/
16 Untitled-design-9.png?img_width=150&img_height=150 EMF Microfinance Fund
Enabling Qapital
Private debt 341 USD
approx 341 EUR
Evergreen 2008 Financial inclusion/services Emerging market / Developing countries (e.g India
Ecuador
Uzbekistan
Cambodia
Mongolia)
Since its inception in 2008, the Enabling Microfinance Fund has been a pure private debt fund, investing in microfinance institutions (MFI) in emerging and frontier markets. All the currencies are systematically hedged. The fund’s focus on supporting financially sound, impact-focused local financial intermediaries enables the population of entrepreneurs to create and grow income-generating activities and to break out of poverty. Expanding access to financial services for these customers promotes resilience, business growth, and helps generate and secure sustainable employment. Microfinance institutions provide loans and increasingly savings, insurance and related products to low-income groups. Enabling Qapital Ltd. (EQ) is a leading Impact Investment Advisory Company dedicated to a world where investments provide a financial and social return. https://enabling.ch/fund/
17 Untitled-design-10.png?img_width=150&img_height=150 Finethic SCA.SICAV - SIF Microfinance
Fundo Asset Manager
Private debt 150 USD
approx 150 EUR
Evergreen 2006 Since inception in 2006, Finethic Microfinance has provided loans to more than 180 of these institutions in some 65 countries for a total amount exceeding $850 million. The Finethic Microfinance sub-fund does not lend directly to individuals but to local microfinance institutions and banks that independently manage their own client portfolios. Fundo has specialized in understanding and managing equity risk in institutional client portfolios from the outset. Since then, it has been offering asset management services dedicated mainly to Swiss and international pension funds. At the forefront of technology, Fundo offers solutions that use computational power (machine learning, algorithms, data analysis) to improve portfolio performance and stability. https://www.fundo.ch/en/services/finethic
18 expo.png?img_width=150&img_height=150 SICAV (Lux) Micro and SME Finance Leaders
responsAbility Investments
Private debt 308 USD
approx 308 EUR
Evergreen Q4 2006 Energy
Water
Waste management
Emerging markets responsAbility SICAV (Lux) Micro and SME Finance Leaders has been active since 2006 and invests in the global micro, small and medium-sized enterprise (MSME) finance sector. The fund aims to close funding gaps for local MSME financial institutions. The fund holds both debt securities and makes equity investments. A Swiss asset manager, active in impact investing since 2003.
Its aim is to drive the growth of development-related sectors—namely finance, agriculture, and energy—through return-seeking debt and equity investments. And with over USD 13 billion invested across the globe since inception, the capacity we have built for deal sourcing is unparalleled.
19 expo.png?img_width=150&img_height=150 responsAbility SICAV (Lux) Financial Inclusion Fund
responsAbility Investments
Private debt 222 USD
approx 222 EUR
Evergreen 2011 A Swiss asset manager, active in impact investing since 2003.
Its aim is to drive the growth of development-related sectors—namely finance, agriculture, and energy—through return-seeking debt and equity investments. And with over USD 13 billion invested across the globe since inception, the capacity we have built for deal sourcing is unparalleled.
20 expo.png?img_width=150&img_height=150 responsAbility SICAV (Lux) Micro and SME Finance Debt Fund
responsAbility Investments
Private debt 557 USD
approx 557 EUR
Open 2007 A Swiss asset manager, active in impact investing since 2003.
Its aim is to drive the growth of development-related sectors—namely finance, agriculture, and energy—through return-seeking debt and equity investments. And with over USD 13 billion invested across the globe since inception, the capacity we have built for deal sourcing is unparalleled.
21 expo.png?img_width=150&img_height=150 responsAbility Global Micro and SME Finance Fund
responsAbility Investments
Private debt 782 USD
approx 782 EUR
Evergreen 2003 A Swiss asset manager, active in impact investing since 2003.
Its aim is to drive the growth of development-related sectors—namely finance, agriculture, and energy—through return-seeking debt and equity investments. And with over USD 13 billion invested across the globe since inception, the capacity we have built for deal sourcing is unparalleled.
22 expo-2.png?img_width=150&img_height=150 RobecoSAM Global Gender Equality Impact Equities Fund
RobecoSAM
Public Equity > Large-cap 319 EUR Open Q3 2015 Healthcare
Technologies
Cities
America (58%)
Europe (35%)
Asia (6%)
RobecoSAM Global Gender Equality Equities is an actively managed fund that invests globally in companies that advance gender diversity and gender equality. The fund invests in companies that exhibit a high degree of gender equality and diversity through having diverse workforces, equal remuneration practices, talent retention practices and commitment to the wellbeing of all employees. The portfolio is built on the basis of an eligible investment universe that includes companies with higher gender scores based on an internally developed gender score methodology. This comprises various criteria, such as board diversity, equal renumeration, talent management and employee well-being. Robeco is an international asset manager offering an extensive range of active investments, from equities to bonds. https://www.robeco.com/doca/CGF_GIGEE_IE-fact-202302-profsgen.pdf?t=1681335607669
23 expo-4.png?img_width=150&img_height=150 Global Impact Equities
Vontobel Asset Management
Public Equity > Large-cap
Public Equity > Mid-cap
Public Equity > Small-cap
51 EUR Evergreen Q2 2021 Agriculture
Energy
Healthcare
Water
Technologies
Cities
The Fund allocates capital to, and support the growth of companies offering solutions to environmental and social challenges. The companies they target for their global impact fund provide innovative solutions helping to address critical challenges like population growth, urbanization, resource scarcity, pollution, aging of population, health problems, food distribution and rising inequalities. The investment universe consists of approximately 1,000 companies scattered across multiple sectors. Vontobel is an investment firm active in the sustainable transformation of our society and economy and an asset management business https://am.vontobel.com/en/insights/global-impact-equities-report-2022-solutions-to-sustainability-challenges
Asset class Status Sectors

Do you have a GLI fund managed or domiciled in Switzerland that is not listed here? Please email

Take Action

Opportunities for Investors

  • Develop strategies following clear target criteria in the investment process, like the ones developed by 2X: invest in businesses founded, majority-owned, or partially led by women, or with a substantial share of women in the workforce, or with products and services that disproportionately benefit women
  • Monitor the evolution of these criteria in portfolio companies
  • Proactively encourage portfolio companies to improve gender lens policies or get a credible gender-lens certification

Opportunities for Companies

  • Develop HR policies that enable equal opportunity for women, including:
    • Fair and equal pay
    • Flexible working arrangements
    • Anti-harassment training & policy
    • Gender-neutral parental leave
  • Publish equal pay reports
  • Create company policies that support the creation of a gender-balanced workforce, leadership, and board
  • Apply for and receive an EDGE certification and/ or an Equal-Salary Certification

Opportunities for Policymakers

  • Implement voluntary or obligatory quotas for gender-balanced boards and senior leadership. Legislation in the UK and France are proven cases that national policy initiatives can be transformative and sometimes indispensable for enterprises’ gender balance and overall performance.
  • Assess policies that can address the ‘baby bias’, which is the main reason that Swiss women’s largest window for a promotion into management on average is between 31-40 years of age, whereas, for men, it extends from 31-50 years. 85 There are reference cases available; France, for example, instituted flexible work policies for pregnant women to combat this bias through a policy measure

Opportunities for the Broader Ecosystem

  • Support and assist with programs or projects that aim to develop research and data relevant to GLI in Switzerland.

Tools and Guidance

wdt_ID Resource Name Author(s) Type Audience Link Description
45 Fund Manager’s Guide to Gender-smart Investing IFC Report Financial Institutions https://www.ifc.org/en/insights-reports/2020/gender-smart-investing-guide The Guide is a practical step-by-step road map for fund managers on how to strengthen gender diversity within their own firms and incorporate a gender focus into investment operations. It combines learnings from CDC and IFC’s experience with over 160 fund managers and draws on best practices with a series of case studies from stakeholders across the industry.
46 Bonds to Bridge the Gender Gap UN Women
IFC
ICMA
Report Businesses
Financial Institutions
https://www.unwomen.org/sites/default/files/2021-11/Bonds-to-bridge-the-gender-gap-en.pdf In today’s capital markets, there are instruments that can be used to address gender inequalities. This guide provides practical guidance on how to use sustainable bonds to credibly access financing for projects and strategies that advance gender equality objectives. It offers examples that illustrate how to identify gender-related use of proceeds and establish gender-related commitments.
47 JEDI investing toolkit 2X Global Toolkit Financial Institutions https://jediinvesting.com/ Developed to help allocators and intermediaries incorporate a gender lens alongside racial and ethnic justice across the investment process - whether they are getting started, levelling up, or going further in their approaches.
48 The SG2X Playbook Renew Capital
USAID
Toolkit Financial Institutions
Businesses
https://sg2x.squarespace.com/ The SME Gender Growth Acceleration (SG2X) Playbook was developed by Renew Capital in partnership with USAID to provide asset managers and entrepreneurs with a set of practical tools to aid them in building gender-smart, scalable SMEs in sub-Saharan Africa.
49 Applying a Gender Lens to Climate Investing: An Action Framework Women in Finance Climate Action Group
Oliver Wyman
2X Global and the 30% Club
Framework Financial Institutions https://www.2xglobal.org/knowledge-hub-blog/applying-a-gender-lens-to-climate-investing-an-action-framework This framework is designed to help financial institutions to embed gender considerations into their climate investment decisions, to both mitigate the disproportionate impact of climate change on women and support women as change makers in the net zero transition. It is designed specifically for private institutional investors given the key role the play in financing the net zero transition.
50 Investing in the pathways to employment for adolescent girls and young women in low and middle-income countries UNICEF
GenderSmart and Volta Capital
Report
Guidance Note
Financial Institutions https://www.unicef.org/reports/investing-in-the-pathways-to-employment-2020 The guide provides practical insights for individuals and institutions on how to approach investing in pathways to employment of adolescent girls and young women in low- and middle-income (LMIC) countries, through six core investment themes and examples of investment opportunities
51 A guide to investing in first-time women and diverse fund managers Gender Smart Guidance Note Financial Institutions https://www.2xglobal.org/s/GenderSmartFTFMGuide_200521.pdf This guide is a tool for asset allocators and advisors, as well as for fund managers. It is designed to help you make the case, be inspired by leading investors who are showing the way, understand the structural solutions to backing more of these funds and structured vehicles, find deal flow, and understand how to diligence and move capital into these innovative managers.
52 Equileap Gender Equality Scorecard Equileap Framework Businesses https://equileap.com/wp-content/uploads/2023/03/EquileapGenderScorecard-2020.pdf This Scorecard is a methodology used to holistically assess a company’s gender equality and diversity & inclusion performance, from the board to the supply chain. It is based on various metrics including gender balance across the workforce, the gender pay gap, paid parental leave, anti-sexual harassment policies, gender discrimination controversies, race & ethnicity discrimination controversies, support for gender-diverse employees, and others.
53 Equality themed indices and passive funds Equileap Investment Approach Financial Institutions https://equileap.com/indices/ Multiple indices have been designed with our data and company scores, including by Solactive, Morningstar, Euronext, and Indxx to track companies leading in gender equality. These indices are used both as benchmarks and underlyings of financial products.
54 Gender-Smart Green Financing EcoMicro Program and Value for Women Toolkit Financial Institutions https://www.v4w.org/resources/gender-smart-green-financing-toolkit This toolkit provides financial institutions with a framework and accompanying resources to start their gender-smart and green financing journey. By promoting solutions at the nexus of gender, climate, and finance, financial institutions will be more inclusive in financial and non-financial value propositions for women-led MSMEs.
55 A Business-First Approach to Gender Inclusion Shell Foundation and Value for Women Framework Businesses https://www.v4w.org/resources/a-business-first-approach-to-gender-inclusion This is an holistic framework for gender inclusion in enterprise operations, using a bottom-up, business-first approach, aimed at testing the impact of gender inclusion on business performance. The approach first hones in on business challenges and then designs practical measurable solutions with a gender lens.
56 Gender Inclusion for Climate-Smart Agribusinesses Value for Women Ltd. Report Businesses https://www.v4w.org/resources/gender-inclusion-for-climate-smart-agribusinesses Guide with the goal of guiding small and growing agribusinesses to growth through strategic gender inclusion in climate-smart agriculture value chains.
57 Designing a Gender Lens Investing Action Plan Investing in Women and Criterion Institute Investment Approach Financial Institutions https://criterioninstitute.org/resources/gender-lens-investing-tool-designing-an-action-plan Following a standard investment cycle, this tool supports the design of an investment strategy with considerations for how gender dynamics might present risks and opportunities. It provides a framework to consider building a gender lens into new or existing strategies to inform investment strategy or in diligence, and can be used by anyone looking to develop a gender lens investing strategy – from foundations, to women’s funds, to investors across asset classes.
58 Increasing Gender Equality in Agriculture GIIN Toolkit Financial Institutions https://navigatingimpact.thegiin.org/strategy/gli/increasing-gender-equality-in-agriculture/ Investments in this strategy aim to address gender gaps in agricultural value chains and increase the yields and incomes of women-run farms. This improvement, in turn, can reduce global hunger and increase overall economic growth. This high-level overview and associated metrics pack are intended as a gender lens complement.
59 The Women’s Empowerment Principles Gender Gap Analysis Tool UN Global Compact Toolkit Businesses https://weps-gapanalysis.org/ The Women’s Empowerment Principles Gender Gap Analysis Tool (WEPs Tool) is a business-driven tool designed to help companies from around the world assess gender equality performance across the workplace, marketplace, and community.
60 SEAF’s Gender Equality Scorecard © SEAF Framework Financial Institutions https://www.seaf.com/womens-economic-empowerment-and-gender-equality/gender-equality-scorecard/ The Gender Equality Scorecard© (“GES©”) is a proprietary tool Small Enterprise Assistance Funds (“SEAF”) developed to assess women’s economic empowerment and gender equality within growth-orientated small and medium-sized enterprises (SMEs). The GES© provides an overall rating score for a company based on six gender equality performance vectors: pay equity, women’s workforce participation, gender diverse leadership and governance, benefits and professional development, safe and healthy workplace environment, and women-powered value chains.
61 Gender-Smart Investing Resource Hub ICRW Toolkit Businesses
Financial Institutions
https://www.icrw.org/corporate-advisory-services/gender-smart-investing-resource-hub/power-sector/ Use this sector-specific Gender-Smart Investing Resource Hub to explore gender opportunities, screen potential investments through a gender lens, and advise companies on how to better integrate gender through their operations and supply chains. These gender lens investing tools are designed for PE, impact investors and DFIs, and may also be used directly by companies operating primarily in emerging markets.
62 UN Women WEP Gender Analysis Tool UN Women Toolkit Businesses
Financial Institutions
https://weps-gapanalysis.org/ The Women’s Empowerment Principles Gender Gap Analysis Tool (WEPs Tool) is a business-driven tool designed to help companies from around the world assess gender equality performance across the workplace, marketplace, and community.
63 MEDA's Gender Equality Mainstreaming (GEM) Framework MEDA Framework Financial Institutions https://www.meda.org/gem MEDA's Gender Equality Mainstreaming (GEM) Framework is an open source toolkit for assessing gender equality, and identifying, implementing and measuring gender equality mainstreaming strategies within companies. The framework is designed for organizations seeking financial and impact returns through investing (e.g., investment funds, government donors, foundations) or providing business support to companies (e.g., accelerators, technical assistance providers). The ultimate aim of the framework is to transform companies to be more gender equitable while supporting business growth, demonstrating the positive relationship between gender equality and superior business performance.
64 How to Measure the Gender Impact of Investments: Using the 2X Challenge Indicators in Alignment with IRIS+ 2X Challenge
GIIN
IRIS+
& CDC
Guidance Note Financial Institutions https://assets.cdcgroup.com/wp-content/uploads/2020/03/16111901/How-to-measure-the-gender-impact-of-investments.pdf The guidance note sets out a suite of gender indicators, mapped to the 2X Challenge criteria, that can be used by investors to establish and monitor the gender impact of their investment and determine eligibility for the 2X Challenge.
65 Guide to the 2X Criteria 2X Challenge Guidance Note Financial Institutions https://static1.squarespace.com/static/5b180402c3c16a6fe0001e45/t/5ef8d17caa257013944d83bc/1593364865863/2XReferenceGuide_Designed_June+25_FINAL.pdf A reference guide primarily for investors and financial institutions (FI) who wish to align their gender lens investing (GLI) practices with the 2X Criteria. It provides guidance on how to apply the criteria and various frequently asked questions (FAQs). It can also be used by independent companies to assess their practices against the criteria, however, much of the orientation of the guidelines are geared towards investment transactions.
66 Gender Lens Incubation and Acceleration Toolkit Asia Women Impact Fund (SPF)
Frontier Incubators (DFAT)
Toolkit Financial Institutions https://toolkits.scalingfrontierinnovation.org/glia/introduction/introduction/ The Gender Lens Incubation and Acceleration toolkit is an interactive resource, to guide accelerators and incubators through the journey of uncovering how our activities impact, and are experienced by, different gendered groups.
67 Investor toolkit with a focus on girls and young women SPRING Accelerator Toolkit Financial Institutions https://www.springaccelerator.org/wp-content/uploads/2018/11/A4-SPRING-toolkit-oct2018-WEB.pdf Aimed at investors and other development practitioners, this toolkit demonstrates the potential of using finance to impact and empower adolescent girls and young women in emerging markets.
68 Financial Alliance for Women's How-To Guides & Case Study Collection Financial Alliance for Women Report Financial Institutions
Businesses
https://financialallianceforwomen.org/library/?q=Case+Study+&search%5Bpublish_date%5D=&search%5Bupdate_date%5D=&search%5Border_by%5D=&search%5Border%5D=ASC The Financial Alliance for Women collates the results, research, experience and advice of members with successful Women’s Market programs, as well as conducts market intelligence research on the female economy.
The How-To Guides and Case Study Collection features publicly available findings from the GBA and our members, as well as third-party research reports and other relevant studies on the female economy.
69 The Power of Procurement: How to Source from Women-Owned Businesses UN Women Report Businesses
Financial Institutions
https://www.unwomen.org/en/digital-library/publications/2017/3/the-power-of-procurement This guide provides corporations and their suppliers with a deeper understanding of the barriers and challenges preventing women-owned businesses from accessing and fully participating in local and global values chains. It provides the tools and techniques for reducing or eliminating these barriers and for leveraging the vast untapped economic potential represented by women-owned businesses. . It contains information about the business case, the current state of gender-responsive purchasing, and best practice guidelines.
70 Navigating Impact Project Gender Lens Theme GIIN Toolkit Businesses
Financial Institutions
https://navigatingimpact.thegiin.org/gender-lens/ The Navigating Impact project helps investors select impact strategies under specific themes, and adopt metrics that indicate performance toward their goals. The Gender Lens theme includes strategies for both gender goals internal to an investee business (gender equitable pay, gender-diverse governance and leadership, etc.) and broader gender impacts external to investee businesses (access to housing for women and LGBTQ individuals, women’s empowerment through clean cookstoves, etc.).
71 A 'How To' Guide To Measuring Women's Empowerment Oxfam Report Financial Institutions https://policy-practice.oxfam.org.uk/publications/a-how-to-guide-to-measuring-womens-empowerment-sharing-experience-from-oxfams-i-620271 This paper shares Oxfam GB's experience of developing an approach to measuring women's empowerment over the course of five years, for use in its series of Effectiveness Reviews. Oxfam's aim is for this to be an easy and practical guide which shares experience and lessons learned in order to support other evaluators and practitioners who seek to pin down this 'hard-to-measure' concept. The hope is that the reader will make use of the measurement tools presented in this paper as guiding instruments that can be adapted to their needs.
72 Mitigating the Risks of Gender-Based Violence: A Due Diligence Guide for Investing Criterion Institute & UNICEF Guidance Note Financial Institutions https://www.unicef.org/sites/default/files/2020-06/Covid-19-Diligence-Tool-UNICEF-Criterion.pdf This tool equips investors to understand the risk their investments are exposed to as a result of gender-based violence and to incorporate that risk assessment into due diligence process. It is one component of a broader global effort to ensure the right to live free of violence and toward greater gender equality.
73 2022 GLIS Annual Report SFG Report Businesses
Financial Institutions
https://sfgeneva.org/wp-content/uploads/2012/05/GLIS-Final-Report.pdf Annual Report of the Gender Lens Initiative for Switzerland from the year 2022
Type Audience

Additional Resources

2X Global engages a full spectrum of investors, capital providers, mobilisers, and influencers, and works together to advance intersectional investment agendas, level up gender-smart investments, and scale the field of gender finance.

The 2X Criteria provides a framework for investors globally to identify gender-smart business opportunities along the entire value chain. It can also be used as eligibility criteria and determine a companies’ level of gender performance.

To be eligible/comply, businesses must fulfil at least 1/5 criteria:

1) Entrepreneurship – 51% of women ownership or the business having been founded by a woman;

2) Leadership – 30% of women in senior leadership or 30% on the Board or Investment Committee;

3) Employment – 30-50% share of women in the workforce and one ‘quality’ beyond compliance;

4) Consumption – products or services that specifically benefit women;

5) Investments through financial intermediaries – 30% of DFI loan proceeds or portfolio companies meet the 2X Criteria

EDGE Certification is a methodology applicable across industries and contexts to assess corporate gender gaps. It helps businesses to 1) measure, manage, plan and manage Diversity, Equity and Inclusion (DE&I) change and 2) get actions and outcomes verified by a third party certification body and get a certification showcasing the organisation’s achievements and commitments towards DE&I progress.

There are three different levels of certifications: 1) EDGE Assess – recognizing commitment; 2) EDGE Move – showcasing progress; 3) EDGE Lead – celebrating success

The certification process focuses on intersectionality and tracks: Representation; Pay equity; Effectiveness of policies aiming to achieve equitable career paths; Inclusivity of culture; Professional development opportunities. The EDGE Certifications expire every 2 years to allow for a re-assessment of an enterprise’s efforts on gender.

The EQUAL-SALARY Certification is a process that allows companies to verify and communicate that they pay their female and male employees equally for the same job or for job of the same value. It provides companies a verified stamp of approval that they are paying men and women equally. As of June 2022 covering 50+ companies globally, the certification is valid for 3 years.

How it works?

  1. Salary analysis: collects employee salary data securely and anonymously
  2. On-site review: the auditing team make sure the requirements are met
  3. Certification: based on the result the company is awarded the certification

Monitoring review: the certification is valid 3 years and the company will need to undergo two monitoring reviews, to show commitment to a fair and non-discriminatory wage policy

Website here

The Equileap Gender Equality Scorecard™ is inspired by the United Nations Women’s Empowerment Principles. This methodology can be used to assess a company’s gender equality performance in all areas of its business, from boardroom to supply chain.

For each gender criterion, one or several metrics have been identified to evaluate it. A score and weighting has been allocated to each criterion to reflect that some issues may be more important for furthering gender equality than others.

1) Gender balance in leadership and the workforce;

2) Equal compensation and work/life balance;

3) Policies promoting gender equality;

4) Commitment, transparency, and accountability;

5) Monitoring companies’ controversies such as sexual harassment or gender discrimination and providing information on those cases to investors

Equileap Website

The Gender Smart Nexus helps businesses, investors, and entrepreneurial intermediaries to practically improve business outcomes and social impacts through advancing gender inclusion.

The platform allows enterprises to self-assess their gender-inclusive practices and provides them recommendations on how to integrate more gender-inclusive practices throughout their organization

The Gender Smart Nexus integrate the 2X Challenge criteria in its assessments.

Value For Women Website

The UNDP programme – Gender Equality SEAL – is a tool for private enterprises to reduce gender gaps and promoting gender equality and competitiveness.

The GES guides enterprises in developing strategies that support SDG5 by eliminating gender-based wage gaps, eradicating sexual harassment in the workplace, developing company policies with gender biases and discrepancies in mind, and increasing female leadership in decision-making and along the supply chain

There are different steps to earn the GES, including; Creation of a gender equality committee; Training of senior management and staff on gender equality;  internal organizational assessment of the company’s policies and practices; Development of a company-wide policy and plan of action for gender equality; Implementation of a gender equality plan of action; an external audit or verification process before obtaining the certification or the award; and monitoring of the ongoing process.

UNDP gender equality seal website

WHY GENDER

What is Gender Lens Investing?

The Global Impact Investing Network (GIIN) defines GLI as investment strategies applied to an allocation or the entirety of an investment portfolio, which seek to examine gender dynamics to inform investment decisions in order to better and/or intentionally and measurably address gender disparities. This includes:

  • Investing in women-owned or -led enterprises
  • Investing in enterprises that promote workplace equity (in staffing, management, boardroom representation, and along their supply chains); or
  • Investing in enterprises that offer products or services that substantially improve the lives of women and girls

Risks

Financial institutions who ignore gender equality are subjecting their investments to regulatory and performance risks.

 

While the “S” in ESG has typically been less of a focus for regulators than environmental dimensions of sustainability, social factors are the next horizon of regulation and financial institutions need to be ready for these developments.   According to KPMG “regulators expect firms to act now and deliver improvements and greater transparency. Disclosure of D&I policies or reporting of pay information is mainly voluntary, but regulation has been introduced in a small and growing number of jurisdictions.”  There are currently 12 countries that have adopted mandatory board quotas for gender representation and over half of OECD countries (21 of 38, or 55%) now require private sector employers to analyze their pay data and report gender-disaggregated pay information (OECD).  Some of the biggest financial regulatory bodies like the FCA in the UK and the SEC in the USA have implemented listing rules for disclosure around Diversity, Equity, and Inclusion (DEI) and have signaled that if DEI does not improve they will be forced to mandate further action (JD Supra).

 

But risk exposure goes beyond regulatory developments, not considering gender equality in investments can actually put return at risk.  A study by KSA Group found the insolvency rate of companies with all-male boards is 49% higher than those with mixed ones.  And a similar study by Creditsafe, found that companies led by women were 20% less likely to fail than those led by men.  Further, a global study by BCG found that for every USD 1 of investment raised, women-owned start-ups generated USD 0.78 in revenue, whereas those run by men generated only USD 0.31.  Considering gender and other forms of diversity is an important risk mitigation tool, and it can increase upside as well.

Opportunities

Financial institutions who are sensitive to DEI issues tend to unlock significant additional value.

 

It is well-established that companies that are diverse perform better than their less diverse peers. McKinsey’s analysis found that companies in the top quartile of executive team gender diversity were 25% more likely to have above-average profitability.  This translates into higher stock prices.  Morgan Stanley analyzed 1,875 firms on the MSCI World Index and found those with greater gender diversity outperformed less gender-diverse firms by 1.6% globally in 2022. In some regions the results were even more striking, for example 7.1% in Europe, 3.0% in Japan and 2.0% in North America.

 

In addition, women are a significant market that is often underserved by financial institutions. Globally, women’s wealth has shown unprecedented growth over the last decade (UBS). Women now control 32% of the world’s wealth, according to BCG. This will rise at a compound annual growth rate of 5.7% to USD 97 trillion by 2024. Serving women also has additional ancillary benefits as they tend to be clients with more awareness of ESG factors.  64% of women factor ESG concerns into their investment decisions, number that is likely to increase as Gen Z and millennial consumers and investors gain more financial power.

Impact

We can only reach our potential as a global society if everyone is empowered.

 

It is estimated that Global GDP could expand by USD 12-28 trillion if women were to participate in the economy similarly to men.  The European Investment Bank similarly found that greater gender diversity could lead to a potential increase of USD 160 trillion of human capital wealth, and could enhance business performance by 15%.

 

Beyond economic arguments, gender equality has a range of benefits that are good for people and the planet.  Gender equality is a more reliable predictor of peace than a country’s GDP or level of democracy (CMF). Giving women increased access to resources can reduce vulnerability and create more resilient households and communities (UNDP).  Everyone benefits in an equal society.

How to use this Dashboard

 

This dashboard is a resource for you to help you better understand the challenge of achieving gender equality and what gender lens investing is.  It provides practical information that will help you to take action.  In this dashboard you will find:

  • Gender Data from Switzerland and globally, which provides an overview of how we currently are performing on gender equality in society, business, and finance.
  • GLI Funds database that lists all GLI funds managed or domiciled in Switzerland. These funds demonstrate how GLI strategies can be applied in practice.
  • Take Action ideas for investors, companies, policymakers, and other actors.
  • Additional Resources that can help you to practically take action (for example getting certified).

Please feel free to send any questions about gender equality and GLI to

GENDER DATA

Gender Data

Understanding the state of gender equality in Switzerland can help us to track progress. Here are some key statistics on where were stand on gender equality in Swiss society, business, and investing.

Gender Equality in Swiss Society

The Global Gender Gap Index

The Global Gender Gap Index benchmarks the current state and evolution of gender parity in 146 countries across four key dimensions – Economic Participation and Opportunity, Educational Attainment, Health and Survival, and Political Empowerment. Switzerland is currently ranked 21st globally, however, this was a downgrade from the 13th position in 2021.  It ranks 13th in Europe, which is also a downgrade from 8 in 2021.

Source WEF 

#21

out of 146 globally

  • #13 in 2021
  • #10 in 2020

#13

out of 35 in Europe

  • #8 in 2021
  • #6 in 2020

Proportion of time spent on unpaid care work, by sex

Women continue to spend more time on unpaid care work than men in Switzerland, with the gap widening between 2000 and 2020. This has negative effects on women’s economic opportunities and specifically hurts labour force participation, wages, and job quality.

Source UN Stats 

Proportion of seats held by women in national parliaments (% of total number of seats)

Since 2000, the proportion of seats held by women in Swiss national parliament has nearly doubled. Switzerland is a strong performer when it comes to women’s participation in government, with approximately 10% more women with a seat in national parliaments in Switzerland compared to the EU.

Source UN Stats 

Share of women among tertiary level students

In Switzerland, women make up approximately 51% of students enrolled in universities, whereas in the EU women take up a slightly larger percentage at 54,2%.

Source Swiss Federal Statistics Office 

Gender Equality in Swiss Business

Female Representation in Company Positions by Country (in %)

All countries perform poorly in terms of female representation at the Senior Management and Executives levels, however, representation in the Board of Directors and Workforce is somewhat stronger.

 

Switzerland has particularly low female representation in Executives (14%) but is in the middle of the pack in representation at other levels. Switzerland is one of the countries where women have a low chance of being promoted, but not due to a lack of a pool of working women. Overall, very slow progress can be noticed each year across the board.

Female Representation – Boards (in %)

Female Representation – Sr Management (in %)

Female Representation – Executives (in %)

Female Representation – Workforce (in %)

Percentage of women by industry in 2022

The proportion of women in lower management levels is relatively even across different sectors, except in the MEM sector with only 19%. Banking has only 31% of female workers compared to Pharma and the Public Sector where women make up 41%. The proportion of women in higher levels of management is low with only 16% of women in management in MEM and the Banking Sector. In the Public Sector, women in management are roughly a third at 32%.

Source: Advance Gender Equality in Business

* includes machine, electrical, and mechanical engineering companies as well as companies in related fields.

Gender distribution by management level

The higher the level of management, the lower the proportion of women. At non-management levels, the difference between the women and men proportion in the workforce is low. In contrast, at the top management level, the gap between women and men is significant with only 19% women compared to 81% men at top management level.

Source: Advance Gender Equality in Business

Switzerland Full-/part-time employed, 1992-2022, in %

In Switzerland, more women have been working part-time than full-time since 1992.

The difference has been increasing over the years with more women working part-time and less women working full-time.

Source: Federal Statistics Office

Switzerland Employment : Full-time equivalent employment rate, by sex

In Switzerland and the OECD countries, a much lower proportion of women are working full time compared to men; 57% and 54% respectively in 2021. The proportions have remained fairly consistent over the years.

Source: OECD 

Gender Equality: A European Comparison

Employment rate of women as % of women aged 15–64 years

The employment rate of women between the age of 15-64 years is higher in Switzerland than in the EU, with 76% and 64,9% respectively of women employed in 2022.

Source: Federal Statistics Office

Women employed part-time as % of employed women aged 15–64 years

The proportion of women age 15-64 years working part-time is two times higher in Switzerland than the EU, with 59,9% and 28,4% respectively of women working part-time.

Source: Federal Statistics Office

Self-Employment

The share of self-employed is much higher for men than for women across the three countries displayed below. However, Switzerland has a higher share of self-employed women (with employees) than France and Germany.

Source: OECD

Share of self-employed who are own-account workers

Share of self-employed who are employers

Gender Wage Gap

The gender wage gap has decreased over the years in Switzerland resting at 13,8% in 2022 but is still slightly higher than the OECD average which stands at 12,1% in 2022.

Source: OECD

Gender Lens Investing in Switzerland

All data on GLI in Switzerland comes from Tameo’s 2022 Private Asset Impact Report, which is detailed research on nearly 200 impact investing funds in emerging markets.  It is, therefore, important to remember that this is not a comprehensive study of all Swiss funds in all asset classes but rather a helpful glimpse into one portion of the market.

Source: Tameo

Sector GLI Portfolio Allocation

This graphic shows where funds that take a GLI approach are allocated in terms of sectors, in Switzerland and across all funds studied.

Source: Tameo

Regional GLI Portfolio Allocation

This graphic shows where funds that take a GLI approach are allocated in terms of geographic location, in Switzerland and across all funds studied.

Source: Tameo

Practices Applied in the Investment Process

This graphic shows the practices that are applied by GLI funds in their investment process, in Switzerland and across all funds studied.

Source: Tameo

Practices Applied in the Portfolio Management Process

This graphic shows the practices that are applied by GLI funds in their portfolio management process, in Switzerland and across all funds studied.

Source: Tameo

Country Income Level Exposure

This graphic shows the exposure GLI funds have to different country income levels, in Switzerland and across all funds studied.

Source: Tameo

Employee Gender in Investee Companies

This graphic shows the workforce composition of investee companies in GLI funds in Switzerland.

Source: Tameo

GLI FUNDS

GLI Funds

wdt_ID Logo Fund name and Organisation name Asset class Capital Committed (Millions) Status Vintage Sectors Country of Investment Description about the Fund Description about the Company Link
1 Untitled-design-1.png?img_width=150&img_height=150 AlphaJiri Investment Fund
AlphaMundi Group
Private debt,Private Equity 21 USD
approx 21 EUR
Open 2020 Agriculture
Energy
Economic Development
East Africa The AlphaJiri Investment Fund LP (Mauritius) provides debt, mezzanine and equity finance to fuel the resilience and growth of impact ventures in the Sustainable Food and Renewable Energy sectors, using a value chain approach, with a climate-smart and gender-lens orientation. The focus on the promotion of women’s economic and social opportunities, is both within the investee companies and through the products and services that they offer. The fund harbors a pan-African ambition with an initial emphasis on East Africa. The fund has been investing in African SMEs since 2020, and had allocated a total of USD 6M to 4 SMEs by 31 March 2021. AlphaMundi Group Ltd is a commercial entity, exclusively dedicated to Impact Investing: profitable investments that generate measurable net benefits to society https://www.alphamundigroup.com/alphajiri-fund/
2 Untitled-design-1.png?img_width=150&img_height=150 SocialAlpha Investment Fund (SAIF)
AlphaMundi Group
Private debt 15 USD
approx 15 EUR
Evergreen 2009 Agriculture, Green infrastructure, Economic Development, Financial inclusion/services, Energy, Education Latin America and Sub-Saharan Africa Since 2009, the SocialAlpha impact debt fund finances early-and growth-stage ventures that address the SDGs in Latin America and Sub-Saharan Africa, across sectors including Financial Inclusion, Sustainable Food and Renewable Energy, using a Gender Lens and with an emphasis on rural development. The focus on the promotion of women’s economic and social opportunities, is both within the investee companies and through the products and services that they offer. By 31 March 2021, the fund had invested USD 51M through 105 transactions with 47 companies. AlphaMundi Group Ltd is a commercial entity, exclusively dedicated to Impact Investing: profitable investments that generate measurable net benefits to society https://www.alphamundigroup.com/socialalpha-fund/
3 Untitled-design-2.png?img_width=150&img_height=150 Asteria Funds - People Impact Global Equalities
Asteria Investment Management
Public Equity > Large-cap 18 GBP
approx 21 EUR
Open Q2 2021 Healthcare The Fund invests in companies that contribute to the achievement of sustainable development goals designed to be a scheme to achieve a better and more sustainable future for all and to generate social and/or environmental change with a focus on people inclusion, access to basic needs and well-being and offer superior financial growth prospect. A dedicated Swiss impact investment manager https://asteriaobviam.com/class/asteria-funds-people-impact-global-equities-c-usd/
4 Untitled-design-3.png?img_width=150&img_height=150 PG Impact Credit Strategies
Blue Earth Capital
Private debt 31 USD
approx 31 EUR
Open 2020 Energy
Agriculture
Financial inclusion/services
Education
Healthcare
The Fund promotes environmental or social characteristics, but does not have as its objective a sustainable investment. The Fund has a private market strategy aiming at both generating positive financial return and at achieving positive social and environmental impact, as framed by the SDGs. To achieve these objectives, the Fund integrates impact considerations throughout the investment lifecycle, including a best-in-class impact assessment and reporting methodology.
The Manager invests in the growth of attractive social enterprises with a proven business model, high development potential and a measurable and scalable social/environmental impact.
Blue Earth Capital is an independent
global impact investment firm. They manage investment strategies for an international clientele of professional investors who are seeking investment solutions that offer market-rate returns, while also helping to address pressing social or environmental challenges.
https://www.partnersgroup.com/fileadmin/user_upload/Files/ESG_disclosures/PG_Impact_Credit_Strategies_2020_S.C.A.__SICAV-RAIF.pdf
5 Untitled-design-3.png?img_width=150&img_height=150 PG Impact Investments II
Blue Earth Capital
Fund of funds
Private Equity > Growth
Private debt
Real assets > Real Estate
100 USD
approx 100 EUR
Open 2019 Blue Earth Capital is an independent
global impact investment firm. They manage investment strategies for an international clientele of professional investors who are seeking investment solutions that offer market-rate returns, while also helping to address pressing social or environmental challenges.
6 Untitled-design-4.png?img_width=150&img_height=150 BlueOrchard Covid-19 Emerging and Frontier Markets MSME Support Fund
BlueOrchard
Private debt 207 USD
approx 207 EUR
Open 2020 Financial inclusion/services Kenya
Tanzania
Burkina Faso
Nigeria
Botswana
The fund fund aims to support more than 200 million jobs in emerging and frontier markets through micro, small and medium enterprises (MSMEs). The aim is to provide solutions to the liquidity and solvency challenges of inclusive financial services institutions caused by volatility in financial markets. The Fund provides support funding to financial institutions and is expected to finance 20 institutions, serve three million micro-entrepreneurs and maintain 60 million jobs per each USD 100 million. The Fund qualifies under the the 2X Challenge criteria. BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.blueorchard.com/products/blueorchard-covid-19-emerging-frontier-markets-msme-support-fund/
7 Untitled-design-4.png?img_width=150&img_height=150 EMF Microfinance Fund
BlueOrchard
Private debt 61 EUR Evergreen 2017 Financial inclusion/services An open-end investment fund, which invests in microfinance institutions in emerging markets with the objective to contribute to the creation of prosperity to low-income households BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors.
8 Untitled-design-4.png?img_width=150&img_height=150 Japan ASEAN Women Empowerment Fund
BlueOrchard
Private debt 241 USD
approx 241 EUR
Evergreen 2016 Financial inclusion/services ASEAN. Countries The microfinance fund focuses on empowering women. Japan ASEAN Women Empowerment Fund (JAWEF) is a blended fund that provides loans to microfinance institutions (MFIs) that serve female entrepreneurs (female Small and Medium Enterprises) in the ASEAN region and beyond. The Fund aims at social advancement of women, poverty reduction, fostering growth, job creation and entrepreneurship. BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.blueorchard.com/products/japan-asean-women-empowerment-fund-jawef/
9 Untitled-design-4.png?img_width=150&img_height=150 The Regional Education Finance Fund for Africa
BlueOrchard
Private debt Evergreen 2014 Education
Financial inclusion/services
Africa Initiated by KfW Development Bank and funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), the Regional Education Finance Fund for Africa (REFFA) is the first regional education finance facility for Africa. It aims to provide customized financial services for the education sector in a demand-oriented, financially sustainable, and socially responsible manner.
REFFA provides funding for on-lending to financial institutions in Africa. Financial intermediaries – including banks, microfinance institutions, credit co-operatives and other finance companies – across Africa can receive funding and Technical Assistance (TA) for the expansion and/or development of their education finance portfolios.
BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.blueorchard.com/products/regional-education-finance-fund-for-africa/
10 Untitled-design-4.png?img_width=150&img_height=150 The Microfinance Initiative for Asia Debt Fund
BlueOrchard
Private debt 178 USD
approx 178 EUR
Evergreen 2013 Energy
Financial inclusion/services
India, Cambodia, Sri Lanka, Mongolia, Indonesia, Tajikistan, Uzbekistan, Philippines, Pakistan, Kazakhstan, Kyrgyzstan, East Timor, Vietnam The MIFA is the first microfinance initiative of its size to exclusively target Asian microfinance institutions (MFIs), reaching out to 33 MFIs across 9 countries. The microfinance portfolio will target micro-borrowers, such as micro and small businesses and low-income households to purchase solar home systems, efficient cookstoves and efficient technologies (lighting, refrigeration, motors, and pumps). Objectives:
i) offers market-based debt financing – with an emphasis on local currency and longer-term financing – to financial entities serving micro businesses (“microfinance institutions” or “MFIs”), with a focus on reaching smaller and less developed MFIs;
ii) helps establish microfinance as an asset class with mainstream investors and leverage donor funds with private capital; and
iii) supports capacity building among financial entities serving micro entities.
BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.blueorchard.com/products/microfinance-initiative-for-asia-mifa/
11 Untitled-design-4.png?img_width=150&img_height=150 Microfinance Enhacement Facility
BlueOrchard
Private debt 677 USD
approx 677 EUR
Evergreen 2009 Financial inclusion/services MENA (1%), LAtAm and Caribbean (6%), Eastern Europe and Caucasus (16%), SOuth Asia (23%), SSA (10%), Central Asia (6%), East Asia and the Pacific (16%) The Fund aims to support economic development and prosperity globally through the provision of short and medium-term financing to financial institutions which support microfinance and micro-enterprises (MFIs) facing difficulties in securing financing. In pursuing its development goal, the Fund will observe principles of sustainability and additionality, combining development and market orientations. As a demand-oriented Fund seeking to respond to the needs of the market and of individual MFIs, since inception MEF has supported low income borrowers by providing over USD 2 billion to more than 250 financial institutions active in the microfinance space in about 55 developing countries worldwide. Impact: 740,000 final borrowers reached by MEF funding, including 78% women. BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors. https://www.mef-fund.com/
12 Untitled-design-4.png?img_width=150&img_height=150 BlueOrchard Microfinance Fund
BlueOrchard
Private debt 2,407 USD
approx 2,407 EUR
Evergreen 1998 ¨ Global emergingand frontier market Our fund provides private loans to microfinance and other financial institutions in emerging markets. These in turn cater to the needs of low-income groups and micro, small, and medium enterprises (MSMEs) who have difficulty accessing funding. In terms of impact, as of June 2022, around 38m MSMEs have been supported by institutions in the portfolio, including 80% female clients. BlueOrchard is a leading global impact investment manager that is dedicated to generating lasting positive impact for communities and the environment, while aiming to provide attractive returns to investors.
13 Untitled-design-6.png?img_width=150&img_height=150 CARE - She Trades Impact Fund
Care Enterprises
Private debt 4 USD
approx 4 EUR
Evergreen 2021 Healthcare
Education
Financial inclusion/services
Agriculture
Water
Energy
Bangladesh, Cambodia, Cameroon, Dominican Republic, El Salvador, Ethiopia, Fiji, Ghana, Guatemala, Honduras, Indonesia, Ivory Coast, Jamaica, Kenya, Philippines, Samoa, Uganda, Vietnam The Care-SheTrades Impact Fund is a blended finance gender investment fund that focuses on bridging the gap for women-centered businesses across target countries in emerging markets.
Because of the disproportionate impact that climate change has on women, the fund also addresses the intersectionality between gender and climate impact by applying a robust climate lens across its investment cycle. The Care-SheTrades Impact Fund will finance women-centered companies that are either women-owned or-led, have a large female employee base, produce essential goods or services that improve women’s prosperity, and/or procure from women-owned or women-led businesses. The Fund is aligned to the 2X challenge
CARE Enterprises, Inc.
– a for-profit subsidiary of CARE USA – has launched its first gender justice impact fund focused on economically empowering women employees, consumers, and suppliers.
https://www.careenterprises.net/impact
14 Untitled-design-7.png?img_width=150&img_height=150 Burning Issues Impact Fund
Chi Impact Capital
Public Equity > Venture
Public Equity > Growth
7 EUR Open Q3 2020 Green infrastructure
Economic Development
Healthcare
Climate
Energy
Europe Burning Issues Impact Fund (BIIF) provides qualified professional investors with the possibility to create place based and deep impact in Europe, while helping to contribute to the most critical and “burning” Sustainable Development Goals and to reverse climate change. The BIIF invests in a new species of entrepreneurs with an integrated business mission to solve a burning social or environmental issue. These companies are for-profit European-based enterprises that provide transformative and typically tech-heavy and scalable solutions. Chi Impact Capital is an independent Impact Investment Advisory firm based in Zurich. Chi Impact Capital has a comprehensive Impact Methodology in place and defines, measures and reports impact goals for each advised investee company and also applies a gender-lens as well as a multi-species-lens. https://chi-impact.com/
15 Untitled-design-8.png?img_width=150&img_height=150 Food Securities Fund
Clarmondial
Private debt 38 USD
approx 38 EUR
Evergreen Q2 2021 Agriculture Emergingand developping markets The Food Securities Fund provides working capital loans to sustainable agriculture companies in emerging and developing markets. It uses an innovative blended finance approach to promote sustainable development through agricultural value chains. By offering loans that cover the entire agricultural cycle, the Fund enables its borrowers to provide increased pre-harvest support to farmers. By end of 2021, The Fund’s borrowers employed close to 700 staff and supported rural livelihoods by purchasing agricultural commodities from ca. 40’000 smallholder farmers, thereof 40% women. Clarmondial is an independent investment advisory company
that focuses on practical, profitable and creative solutions for social and environmental businesses and their funders.
https://www.foodsecuritiesfund.com/
16 Untitled-design-9.png?img_width=150&img_height=150 EMF Microfinance Fund
Enabling Qapital
Private debt 341 USD
approx 341 EUR
Evergreen 2008 Financial inclusion/services Emerging market / Developing countries (e.g India
Ecuador
Uzbekistan
Cambodia
Mongolia)
Since its inception in 2008, the Enabling Microfinance Fund has been a pure private debt fund, investing in microfinance institutions (MFI) in emerging and frontier markets. All the currencies are systematically hedged. The fund’s focus on supporting financially sound, impact-focused local financial intermediaries enables the population of entrepreneurs to create and grow income-generating activities and to break out of poverty. Expanding access to financial services for these customers promotes resilience, business growth, and helps generate and secure sustainable employment. Microfinance institutions provide loans and increasingly savings, insurance and related products to low-income groups. Enabling Qapital Ltd. (EQ) is a leading Impact Investment Advisory Company dedicated to a world where investments provide a financial and social return. https://enabling.ch/fund/
17 Untitled-design-10.png?img_width=150&img_height=150 Finethic SCA.SICAV - SIF Microfinance
Fundo Asset Manager
Private debt 150 USD
approx 150 EUR
Evergreen 2006 Since inception in 2006, Finethic Microfinance has provided loans to more than 180 of these institutions in some 65 countries for a total amount exceeding $850 million. The Finethic Microfinance sub-fund does not lend directly to individuals but to local microfinance institutions and banks that independently manage their own client portfolios. Fundo has specialized in understanding and managing equity risk in institutional client portfolios from the outset. Since then, it has been offering asset management services dedicated mainly to Swiss and international pension funds. At the forefront of technology, Fundo offers solutions that use computational power (machine learning, algorithms, data analysis) to improve portfolio performance and stability. https://www.fundo.ch/en/services/finethic
18 expo.png?img_width=150&img_height=150 SICAV (Lux) Micro and SME Finance Leaders
responsAbility Investments
Private debt 308 USD
approx 308 EUR
Evergreen Q4 2006 Energy
Water
Waste management
Emerging markets responsAbility SICAV (Lux) Micro and SME Finance Leaders has been active since 2006 and invests in the global micro, small and medium-sized enterprise (MSME) finance sector. The fund aims to close funding gaps for local MSME financial institutions. The fund holds both debt securities and makes equity investments. A Swiss asset manager, active in impact investing since 2003.
Its aim is to drive the growth of development-related sectors—namely finance, agriculture, and energy—through return-seeking debt and equity investments. And with over USD 13 billion invested across the globe since inception, the capacity we have built for deal sourcing is unparalleled.
19 expo.png?img_width=150&img_height=150 responsAbility SICAV (Lux) Financial Inclusion Fund
responsAbility Investments
Private debt 222 USD
approx 222 EUR
Evergreen 2011 A Swiss asset manager, active in impact investing since 2003.
Its aim is to drive the growth of development-related sectors—namely finance, agriculture, and energy—through return-seeking debt and equity investments. And with over USD 13 billion invested across the globe since inception, the capacity we have built for deal sourcing is unparalleled.
20 expo.png?img_width=150&img_height=150 responsAbility SICAV (Lux) Micro and SME Finance Debt Fund
responsAbility Investments
Private debt 557 USD
approx 557 EUR
Open 2007 A Swiss asset manager, active in impact investing since 2003.
Its aim is to drive the growth of development-related sectors—namely finance, agriculture, and energy—through return-seeking debt and equity investments. And with over USD 13 billion invested across the globe since inception, the capacity we have built for deal sourcing is unparalleled.
21 expo.png?img_width=150&img_height=150 responsAbility Global Micro and SME Finance Fund
responsAbility Investments
Private debt 782 USD
approx 782 EUR
Evergreen 2003 A Swiss asset manager, active in impact investing since 2003.
Its aim is to drive the growth of development-related sectors—namely finance, agriculture, and energy—through return-seeking debt and equity investments. And with over USD 13 billion invested across the globe since inception, the capacity we have built for deal sourcing is unparalleled.
22 expo-2.png?img_width=150&img_height=150 RobecoSAM Global Gender Equality Impact Equities Fund
RobecoSAM
Public Equity > Large-cap 319 EUR Open Q3 2015 Healthcare
Technologies
Cities
America (58%)
Europe (35%)
Asia (6%)
RobecoSAM Global Gender Equality Equities is an actively managed fund that invests globally in companies that advance gender diversity and gender equality. The fund invests in companies that exhibit a high degree of gender equality and diversity through having diverse workforces, equal remuneration practices, talent retention practices and commitment to the wellbeing of all employees. The portfolio is built on the basis of an eligible investment universe that includes companies with higher gender scores based on an internally developed gender score methodology. This comprises various criteria, such as board diversity, equal renumeration, talent management and employee well-being. Robeco is an international asset manager offering an extensive range of active investments, from equities to bonds. https://www.robeco.com/doca/CGF_GIGEE_IE-fact-202302-profsgen.pdf?t=1681335607669
23 expo-4.png?img_width=150&img_height=150 Global Impact Equities
Vontobel Asset Management
Public Equity > Large-cap
Public Equity > Mid-cap
Public Equity > Small-cap
51 EUR Evergreen Q2 2021 Agriculture
Energy
Healthcare
Water
Technologies
Cities
The Fund allocates capital to, and support the growth of companies offering solutions to environmental and social challenges. The companies they target for their global impact fund provide innovative solutions helping to address critical challenges like population growth, urbanization, resource scarcity, pollution, aging of population, health problems, food distribution and rising inequalities. The investment universe consists of approximately 1,000 companies scattered across multiple sectors. Vontobel is an investment firm active in the sustainable transformation of our society and economy and an asset management business https://am.vontobel.com/en/insights/global-impact-equities-report-2022-solutions-to-sustainability-challenges
Asset class Status Sectors

Do you have a GLI fund managed or domiciled in Switzerland that is not listed here? Please email

TAKE ACTION

Take Action

Opportunities for Investors

  • Develop strategies following clear target criteria in the investment process, like the ones developed by 2X: invest in businesses founded, majority-owned, or partially led by women, or with a substantial share of women in the workforce, or with products and services that disproportionately benefit women
  • Monitor the evolution of these criteria in portfolio companies
  • Proactively encourage portfolio companies to improve gender lens policies or get a credible gender-lens certification

Opportunities for Companies

  • Develop HR policies that enable equal opportunity for women, including:
    • Fair and equal pay
    • Flexible working arrangements
    • Anti-harassment training & policy
    • Gender-neutral parental leave
  • Publish equal pay reports
  • Create company policies that support the creation of a gender-balanced workforce, leadership, and board
  • Apply for and receive an EDGE certification and/ or an Equal-Salary Certification

Opportunities for Policymakers

  • Implement voluntary or obligatory quotas for gender-balanced boards and senior leadership. Legislation in the UK and France are proven cases that national policy initiatives can be transformative and sometimes indispensable for enterprises’ gender balance and overall performance.
  • Assess policies that can address the ‘baby bias’, which is the main reason that Swiss women’s largest window for a promotion into management on average is between 31-40 years of age, whereas, for men, it extends from 31-50 years. 85 There are reference cases available; France, for example, instituted flexible work policies for pregnant women to combat this bias through a policy measure

Opportunities for the Broader Ecosystem

  • Support and assist with programs or projects that aim to develop research and data relevant to GLI in Switzerland.
TOOLS AND GUIDANCE

Tools and Guidance

wdt_ID Resource Name Author(s) Type Audience Link Description
45 Fund Manager’s Guide to Gender-smart Investing IFC Report Financial Institutions https://www.ifc.org/en/insights-reports/2020/gender-smart-investing-guide The Guide is a practical step-by-step road map for fund managers on how to strengthen gender diversity within their own firms and incorporate a gender focus into investment operations. It combines learnings from CDC and IFC’s experience with over 160 fund managers and draws on best practices with a series of case studies from stakeholders across the industry.
46 Bonds to Bridge the Gender Gap UN Women
IFC
ICMA
Report Businesses
Financial Institutions
https://www.unwomen.org/sites/default/files/2021-11/Bonds-to-bridge-the-gender-gap-en.pdf In today’s capital markets, there are instruments that can be used to address gender inequalities. This guide provides practical guidance on how to use sustainable bonds to credibly access financing for projects and strategies that advance gender equality objectives. It offers examples that illustrate how to identify gender-related use of proceeds and establish gender-related commitments.
47 JEDI investing toolkit 2X Global Toolkit Financial Institutions https://jediinvesting.com/ Developed to help allocators and intermediaries incorporate a gender lens alongside racial and ethnic justice across the investment process - whether they are getting started, levelling up, or going further in their approaches.
48 The SG2X Playbook Renew Capital
USAID
Toolkit Financial Institutions
Businesses
https://sg2x.squarespace.com/ The SME Gender Growth Acceleration (SG2X) Playbook was developed by Renew Capital in partnership with USAID to provide asset managers and entrepreneurs with a set of practical tools to aid them in building gender-smart, scalable SMEs in sub-Saharan Africa.
49 Applying a Gender Lens to Climate Investing: An Action Framework Women in Finance Climate Action Group
Oliver Wyman
2X Global and the 30% Club
Framework Financial Institutions https://www.2xglobal.org/knowledge-hub-blog/applying-a-gender-lens-to-climate-investing-an-action-framework This framework is designed to help financial institutions to embed gender considerations into their climate investment decisions, to both mitigate the disproportionate impact of climate change on women and support women as change makers in the net zero transition. It is designed specifically for private institutional investors given the key role the play in financing the net zero transition.
50 Investing in the pathways to employment for adolescent girls and young women in low and middle-income countries UNICEF
GenderSmart and Volta Capital
Report
Guidance Note
Financial Institutions https://www.unicef.org/reports/investing-in-the-pathways-to-employment-2020 The guide provides practical insights for individuals and institutions on how to approach investing in pathways to employment of adolescent girls and young women in low- and middle-income (LMIC) countries, through six core investment themes and examples of investment opportunities
51 A guide to investing in first-time women and diverse fund managers Gender Smart Guidance Note Financial Institutions https://www.2xglobal.org/s/GenderSmartFTFMGuide_200521.pdf This guide is a tool for asset allocators and advisors, as well as for fund managers. It is designed to help you make the case, be inspired by leading investors who are showing the way, understand the structural solutions to backing more of these funds and structured vehicles, find deal flow, and understand how to diligence and move capital into these innovative managers.
52 Equileap Gender Equality Scorecard Equileap Framework Businesses https://equileap.com/wp-content/uploads/2023/03/EquileapGenderScorecard-2020.pdf This Scorecard is a methodology used to holistically assess a company’s gender equality and diversity & inclusion performance, from the board to the supply chain. It is based on various metrics including gender balance across the workforce, the gender pay gap, paid parental leave, anti-sexual harassment policies, gender discrimination controversies, race & ethnicity discrimination controversies, support for gender-diverse employees, and others.
53 Equality themed indices and passive funds Equileap Investment Approach Financial Institutions https://equileap.com/indices/ Multiple indices have been designed with our data and company scores, including by Solactive, Morningstar, Euronext, and Indxx to track companies leading in gender equality. These indices are used both as benchmarks and underlyings of financial products.
54 Gender-Smart Green Financing EcoMicro Program and Value for Women Toolkit Financial Institutions https://www.v4w.org/resources/gender-smart-green-financing-toolkit This toolkit provides financial institutions with a framework and accompanying resources to start their gender-smart and green financing journey. By promoting solutions at the nexus of gender, climate, and finance, financial institutions will be more inclusive in financial and non-financial value propositions for women-led MSMEs.
55 A Business-First Approach to Gender Inclusion Shell Foundation and Value for Women Framework Businesses https://www.v4w.org/resources/a-business-first-approach-to-gender-inclusion This is an holistic framework for gender inclusion in enterprise operations, using a bottom-up, business-first approach, aimed at testing the impact of gender inclusion on business performance. The approach first hones in on business challenges and then designs practical measurable solutions with a gender lens.
56 Gender Inclusion for Climate-Smart Agribusinesses Value for Women Ltd. Report Businesses https://www.v4w.org/resources/gender-inclusion-for-climate-smart-agribusinesses Guide with the goal of guiding small and growing agribusinesses to growth through strategic gender inclusion in climate-smart agriculture value chains.
57 Designing a Gender Lens Investing Action Plan Investing in Women and Criterion Institute Investment Approach Financial Institutions https://criterioninstitute.org/resources/gender-lens-investing-tool-designing-an-action-plan Following a standard investment cycle, this tool supports the design of an investment strategy with considerations for how gender dynamics might present risks and opportunities. It provides a framework to consider building a gender lens into new or existing strategies to inform investment strategy or in diligence, and can be used by anyone looking to develop a gender lens investing strategy – from foundations, to women’s funds, to investors across asset classes.
58 Increasing Gender Equality in Agriculture GIIN Toolkit Financial Institutions https://navigatingimpact.thegiin.org/strategy/gli/increasing-gender-equality-in-agriculture/ Investments in this strategy aim to address gender gaps in agricultural value chains and increase the yields and incomes of women-run farms. This improvement, in turn, can reduce global hunger and increase overall economic growth. This high-level overview and associated metrics pack are intended as a gender lens complement.
59 The Women’s Empowerment Principles Gender Gap Analysis Tool UN Global Compact Toolkit Businesses https://weps-gapanalysis.org/ The Women’s Empowerment Principles Gender Gap Analysis Tool (WEPs Tool) is a business-driven tool designed to help companies from around the world assess gender equality performance across the workplace, marketplace, and community.
60 SEAF’s Gender Equality Scorecard © SEAF Framework Financial Institutions https://www.seaf.com/womens-economic-empowerment-and-gender-equality/gender-equality-scorecard/ The Gender Equality Scorecard© (“GES©”) is a proprietary tool Small Enterprise Assistance Funds (“SEAF”) developed to assess women’s economic empowerment and gender equality within growth-orientated small and medium-sized enterprises (SMEs). The GES© provides an overall rating score for a company based on six gender equality performance vectors: pay equity, women’s workforce participation, gender diverse leadership and governance, benefits and professional development, safe and healthy workplace environment, and women-powered value chains.
61 Gender-Smart Investing Resource Hub ICRW Toolkit Businesses
Financial Institutions
https://www.icrw.org/corporate-advisory-services/gender-smart-investing-resource-hub/power-sector/ Use this sector-specific Gender-Smart Investing Resource Hub to explore gender opportunities, screen potential investments through a gender lens, and advise companies on how to better integrate gender through their operations and supply chains. These gender lens investing tools are designed for PE, impact investors and DFIs, and may also be used directly by companies operating primarily in emerging markets.
62 UN Women WEP Gender Analysis Tool UN Women Toolkit Businesses
Financial Institutions
https://weps-gapanalysis.org/ The Women’s Empowerment Principles Gender Gap Analysis Tool (WEPs Tool) is a business-driven tool designed to help companies from around the world assess gender equality performance across the workplace, marketplace, and community.
63 MEDA's Gender Equality Mainstreaming (GEM) Framework MEDA Framework Financial Institutions https://www.meda.org/gem MEDA's Gender Equality Mainstreaming (GEM) Framework is an open source toolkit for assessing gender equality, and identifying, implementing and measuring gender equality mainstreaming strategies within companies. The framework is designed for organizations seeking financial and impact returns through investing (e.g., investment funds, government donors, foundations) or providing business support to companies (e.g., accelerators, technical assistance providers). The ultimate aim of the framework is to transform companies to be more gender equitable while supporting business growth, demonstrating the positive relationship between gender equality and superior business performance.
64 How to Measure the Gender Impact of Investments: Using the 2X Challenge Indicators in Alignment with IRIS+ 2X Challenge
GIIN
IRIS+
& CDC
Guidance Note Financial Institutions https://assets.cdcgroup.com/wp-content/uploads/2020/03/16111901/How-to-measure-the-gender-impact-of-investments.pdf The guidance note sets out a suite of gender indicators, mapped to the 2X Challenge criteria, that can be used by investors to establish and monitor the gender impact of their investment and determine eligibility for the 2X Challenge.
65 Guide to the 2X Criteria 2X Challenge Guidance Note Financial Institutions https://static1.squarespace.com/static/5b180402c3c16a6fe0001e45/t/5ef8d17caa257013944d83bc/1593364865863/2XReferenceGuide_Designed_June+25_FINAL.pdf A reference guide primarily for investors and financial institutions (FI) who wish to align their gender lens investing (GLI) practices with the 2X Criteria. It provides guidance on how to apply the criteria and various frequently asked questions (FAQs). It can also be used by independent companies to assess their practices against the criteria, however, much of the orientation of the guidelines are geared towards investment transactions.
66 Gender Lens Incubation and Acceleration Toolkit Asia Women Impact Fund (SPF)
Frontier Incubators (DFAT)
Toolkit Financial Institutions https://toolkits.scalingfrontierinnovation.org/glia/introduction/introduction/ The Gender Lens Incubation and Acceleration toolkit is an interactive resource, to guide accelerators and incubators through the journey of uncovering how our activities impact, and are experienced by, different gendered groups.
67 Investor toolkit with a focus on girls and young women SPRING Accelerator Toolkit Financial Institutions https://www.springaccelerator.org/wp-content/uploads/2018/11/A4-SPRING-toolkit-oct2018-WEB.pdf Aimed at investors and other development practitioners, this toolkit demonstrates the potential of using finance to impact and empower adolescent girls and young women in emerging markets.
68 Financial Alliance for Women's How-To Guides & Case Study Collection Financial Alliance for Women Report Financial Institutions
Businesses
https://financialallianceforwomen.org/library/?q=Case+Study+&search%5Bpublish_date%5D=&search%5Bupdate_date%5D=&search%5Border_by%5D=&search%5Border%5D=ASC The Financial Alliance for Women collates the results, research, experience and advice of members with successful Women’s Market programs, as well as conducts market intelligence research on the female economy.
The How-To Guides and Case Study Collection features publicly available findings from the GBA and our members, as well as third-party research reports and other relevant studies on the female economy.
69 The Power of Procurement: How to Source from Women-Owned Businesses UN Women Report Businesses
Financial Institutions
https://www.unwomen.org/en/digital-library/publications/2017/3/the-power-of-procurement This guide provides corporations and their suppliers with a deeper understanding of the barriers and challenges preventing women-owned businesses from accessing and fully participating in local and global values chains. It provides the tools and techniques for reducing or eliminating these barriers and for leveraging the vast untapped economic potential represented by women-owned businesses. . It contains information about the business case, the current state of gender-responsive purchasing, and best practice guidelines.
70 Navigating Impact Project Gender Lens Theme GIIN Toolkit Businesses
Financial Institutions
https://navigatingimpact.thegiin.org/gender-lens/ The Navigating Impact project helps investors select impact strategies under specific themes, and adopt metrics that indicate performance toward their goals. The Gender Lens theme includes strategies for both gender goals internal to an investee business (gender equitable pay, gender-diverse governance and leadership, etc.) and broader gender impacts external to investee businesses (access to housing for women and LGBTQ individuals, women’s empowerment through clean cookstoves, etc.).
71 A 'How To' Guide To Measuring Women's Empowerment Oxfam Report Financial Institutions https://policy-practice.oxfam.org.uk/publications/a-how-to-guide-to-measuring-womens-empowerment-sharing-experience-from-oxfams-i-620271 This paper shares Oxfam GB's experience of developing an approach to measuring women's empowerment over the course of five years, for use in its series of Effectiveness Reviews. Oxfam's aim is for this to be an easy and practical guide which shares experience and lessons learned in order to support other evaluators and practitioners who seek to pin down this 'hard-to-measure' concept. The hope is that the reader will make use of the measurement tools presented in this paper as guiding instruments that can be adapted to their needs.
72 Mitigating the Risks of Gender-Based Violence: A Due Diligence Guide for Investing Criterion Institute & UNICEF Guidance Note Financial Institutions https://www.unicef.org/sites/default/files/2020-06/Covid-19-Diligence-Tool-UNICEF-Criterion.pdf This tool equips investors to understand the risk their investments are exposed to as a result of gender-based violence and to incorporate that risk assessment into due diligence process. It is one component of a broader global effort to ensure the right to live free of violence and toward greater gender equality.
73 2022 GLIS Annual Report SFG Report Businesses
Financial Institutions
https://sfgeneva.org/wp-content/uploads/2012/05/GLIS-Final-Report.pdf Annual Report of the Gender Lens Initiative for Switzerland from the year 2022
Type Audience
ADDITIONAL RESOURCES

Additional Resources

2X Global engages a full spectrum of investors, capital providers, mobilisers, and influencers, and works together to advance intersectional investment agendas, level up gender-smart investments, and scale the field of gender finance.

The 2X Criteria provides a framework for investors globally to identify gender-smart business opportunities along the entire value chain. It can also be used as eligibility criteria and determine a companies’ level of gender performance.

To be eligible/comply, businesses must fulfil at least 1/5 criteria:

1) Entrepreneurship – 51% of women ownership or the business having been founded by a woman;

2) Leadership – 30% of women in senior leadership or 30% on the Board or Investment Committee;

3) Employment – 30-50% share of women in the workforce and one ‘quality’ beyond compliance;

4) Consumption – products or services that specifically benefit women;

5) Investments through financial intermediaries – 30% of DFI loan proceeds or portfolio companies meet the 2X Criteria

EDGE Certification is a methodology applicable across industries and contexts to assess corporate gender gaps. It helps businesses to 1) measure, manage, plan and manage Diversity, Equity and Inclusion (DE&I) change and 2) get actions and outcomes verified by a third party certification body and get a certification showcasing the organisation’s achievements and commitments towards DE&I progress.

There are three different levels of certifications: 1) EDGE Assess – recognizing commitment; 2) EDGE Move – showcasing progress; 3) EDGE Lead – celebrating success

The certification process focuses on intersectionality and tracks: Representation; Pay equity; Effectiveness of policies aiming to achieve equitable career paths; Inclusivity of culture; Professional development opportunities. The EDGE Certifications expire every 2 years to allow for a re-assessment of an enterprise’s efforts on gender.

The EQUAL-SALARY Certification is a process that allows companies to verify and communicate that they pay their female and male employees equally for the same job or for job of the same value. It provides companies a verified stamp of approval that they are paying men and women equally. As of June 2022 covering 50+ companies globally, the certification is valid for 3 years.

How it works?

  1. Salary analysis: collects employee salary data securely and anonymously
  2. On-site review: the auditing team make sure the requirements are met
  3. Certification: based on the result the company is awarded the certification

Monitoring review: the certification is valid 3 years and the company will need to undergo two monitoring reviews, to show commitment to a fair and non-discriminatory wage policy

Website here

The Equileap Gender Equality Scorecard™ is inspired by the United Nations Women’s Empowerment Principles. This methodology can be used to assess a company’s gender equality performance in all areas of its business, from boardroom to supply chain.

For each gender criterion, one or several metrics have been identified to evaluate it. A score and weighting has been allocated to each criterion to reflect that some issues may be more important for furthering gender equality than others.

1) Gender balance in leadership and the workforce;

2) Equal compensation and work/life balance;

3) Policies promoting gender equality;

4) Commitment, transparency, and accountability;

5) Monitoring companies’ controversies such as sexual harassment or gender discrimination and providing information on those cases to investors

Equileap Website

The Gender Smart Nexus helps businesses, investors, and entrepreneurial intermediaries to practically improve business outcomes and social impacts through advancing gender inclusion.

The platform allows enterprises to self-assess their gender-inclusive practices and provides them recommendations on how to integrate more gender-inclusive practices throughout their organization

The Gender Smart Nexus integrate the 2X Challenge criteria in its assessments.

Value For Women Website

The UNDP programme – Gender Equality SEAL – is a tool for private enterprises to reduce gender gaps and promoting gender equality and competitiveness.

The GES guides enterprises in developing strategies that support SDG5 by eliminating gender-based wage gaps, eradicating sexual harassment in the workplace, developing company policies with gender biases and discrepancies in mind, and increasing female leadership in decision-making and along the supply chain

There are different steps to earn the GES, including; Creation of a gender equality committee; Training of senior management and staff on gender equality;  internal organizational assessment of the company’s policies and practices; Development of a company-wide policy and plan of action for gender equality; Implementation of a gender equality plan of action; an external audit or verification process before obtaining the certification or the award; and monitoring of the ongoing process.

UNDP gender equality seal website