UN Women has a clear vision to increase public and private financing policies, strategies and instruments to advance gender equality by providing tailored policy guidance and capacity building on the mobilization, allocation and spending of high impact financing aligned with gender equality objectives.
While Iceland ranks as one of the most gender equal countries in the world and has topped the World Economic Forum’s Global Gender Gap Index for the past 13 years, there are still persisting gender gaps that need to be addressed. Recognizing the importance that financing plays in achieving gender equality gender responsive budgeting was implemented more than a decade ago and has served as a key tool in enhancing evidence on the gender impact of resource allocation and facilitated more informed decision-making in the budgeting process.
The government also acknowledges the role that capital markets can play in allocating capital towards projects and investments that promote gender equality. Last year the Ministry issued a Sovereign Sustainable Financing Framework that enables the Government to issue sustainable, green, blue, and/or social bonds to finance its activities for climate, environment and social issues, including projects that promote gender equality.