Femeconomy has partnered with The 30% Club and leading Australian Board Directors to develop a Gender Equality Procurement Toolkit, to support organisations to implement procurement strategies that create gender equality across their supply chains, and foster ethical supply practices.
PROFIT AND PURPOSE
Companies with gender balanced leadership are more profitable and more likely to progress gender equality initiatives. The 2020 Edelman Trust Barometer research shows 73% of people believe a company can take actions that both increase profits and improve economic and social conditions in the community where it operates. Procurement can be a vehicle to create social impact.
Putting in place and communicating supplier diversity and gender equality programs externally builds trust both with local communities, and with stakeholders more broadly, as organisations are increasingly held to account for their social impact.
Corporate Directors and CEOs are operating in environments of increasing volatility, uncertainty, complexity and ambiguity.
Increased diversity of thought, leadership and decision making is required to confront escalating stakeholder demands for social license to operate and sustainable gender equality improvements. Recent legislative changes reflect growing community expectations that organisational supply chains are ethical, transparent and inclusive.
Workplace Gender Equality Agency (WGEA) has updated its Employer of Choice Citation
WGEA’s 2020-2021 Employer of Choice Citation criteria includes measures of gender responsive procurement, stating “your organisation must have procurement guidelines that encourage gender equality across your supply chain”. This Toolkit is designed to help organisations on that journey.
Creating Gender Equality through Procurement Toolkit
The 30% Club and Femeconomy have shared goals of:
- achieving at least 30% women on ASX 300 Boards
- to sustainably embed gender equality in board representation across industry; and
- promoting the benefits of diversity at all levels of business.
A cohort of leading Australian Directors was engaged to elicit thought leadership on gender equality procurement principles through a Roundtable discussion in Sydney during November 2019.
A focus was to identify the enablers and risks to organisations when introducing procurement strategies that create gender equality.
- implement procurement strategies that create gender equality across their supply chains
- foster ethical supply practices
- promote long term organisational sustainability
If you are interested in accessing Femeconomy’s database of women led organisations, please contact us.
Choose female led brands. Create gender equality.
Femeconomy educates consumers, business owners and budget owners on how their purchasing decisions can create gender equality.
Femeconomy identifies and amplifies companies that have at least 30% women on the Board of Directors or are 50% female owned.
Companies with female leaders are more likely to have workplace flexibility and less likely to have a gender pay gap, so they are helping to create gender equality for their employees and communities.
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