The European Investment Bank (EIB) has taken a significant step towards promoting gender equality and women’s economic empowerment by expanding its Sustainability Awareness Bond (SAB) framework. This move, announced ahead of International Women’s Day, introduces two new social objectives: gender equality and women’s economic empowerment. The EIB Group Forum, themed “Investing in a more sustainable and secure Europe,” brought together key stakeholders from finance ministries and the public and private sectors to discuss this initiative.
The proceeds from these bonds will be used to fund projects globally that enhance women’s access to finance, support female entrepreneurship, and advance gender equality. This strategic move underscores the EIB’s commitment to leveraging sustainable finance to drive social change and economic growth.
EIB President Nadia Calviño stated, “Investing in women entrepreneurs and gender equality is not only the right thing to do but also the smart thing to do. Gender equality brings growth, prosperity to our economies. The extension of our Sustainability Awareness Bond shows how we can mobilise capital markets and deploy sustainable finance to do this.”
Julie Becker, CEO of the Luxembourg Stock Exchange, expressed her support for the EIB’s decision, saying, “We applaud the EIB’s decision to expand its Sustainability Awareness Bond Framework to include a gender dimension, and we hope many other issuers will take inspiration from this important move. Women play an essential role in driving societal progress and sustainable development. In the current context, marked by the rollback of gender equality programmes in certain regions, advancing financing for women has become more urgent than ever.”
Jessica Espinoza, CEO of 2X Global, highlighted the crucial role of capital markets in advancing gender equality, noting, “Capital markets have a pivotal role to play in mobilizing investments for gender equality. By adopting robust gender lens investing standards and criteria, such as the 2X Criteria, we can unlock gender-smart capital at scale and drive real change. These standards not only provide a unified framework for investors but also ensure that impact investments and gender-focused bonds truly deliver on their promises. As we’ve seen with the 2X Challenge, which has raised over $34 billion in gender lens investments since 2018, when we align capital with clear, measurable gender criteria, we can accelerate progress towards a more equitable world.”
The Sustainability Awareness Bond, launched in 2018, builds on the success of the EIB’s Climate Awareness Bond by addressing a broader range of global challenges. By integrating gender-focused objectives into its framework, the EIB aims to contribute significantly to the United Nations Sustainable Development Goals, particularly Goal 5, which focuses on achieving gender equality and empowering all women and girls. This initiative aligns with the EIB’s broader commitment to sustainable finance and its role in driving economic growth through inclusive investment strategies.
