By Edith Loyola 
A new study published by The United Nations (UN) Women, reveals that the world is failing to close the gender gap, with an estimated global annual cost of $10 trillion.
The report, which assesses progress on the Sustainable Development Goals (SDGs) from a gender perspective, highlights the significant economic impact that gender inequality has on the global economy. It emphasizes that while progress is possible, the current pace is insufficient.
Sima Bahous, Executive Director of UN Women, stated in a press release that the study reveals an undeniable truth.
“The report today reveals an undeniable truth: progress is possible, but we are not moving quickly enough,” Bahous asserted.
She also stressed the urgency for global leaders to take “decisive” action at the upcoming Summit for the Future. The report calls for increased investment and effective policy implementation to meet the targets of the 2030 Agenda.
137 years.
— Sima Bahous (@unwomenchief) September 16, 2024
That’s how long it will take to end extreme poverty among women, if we don’t act now.
The 2024 Gender Snapshot report from @UN_Women and @UNDESA shows us the urgency. We must accelerate our efforts to achieve gender equality and secure a better future for all.
Read… pic.twitter.com/Yefetewtxe
Persistent Challenges
The study notes that despite progress since 2019 in narrowing the gender gap, decades of work remain in critical areas such as political representation, extreme poverty, and child marriage.
It also reports that SDG 5, which focuses on gender equality, faces persistent structural barriers and discriminatory laws, as well as a lack of adequate data to effectively measure progress.
Economically, the publication highlights that the annual social cost of educational deficits will reach $10 trillion by 2030, with a significant impact on the labor market due to early school dropout, especially affecting girls in sub-Saharan Africa.
Positive Developments and Serious Concerns
Among positive findings, the report shows that countries with domestic violence laws have significantly lower rates of intimate partner violence, at 9.5% compared to 16.1% in countries without such laws.
However, it also reveals that one in eight women and girls globally has experienced physical and/or sexual violence by an intimate partner in the past year, with alarming figures in countries like the Democratic Republic of the Congo and Afghanistan, where the ratio is one in three.
The study further highlights that none of the 120 countries analyzed have comprehensive legislation covering all aspects of discrimination and violence against women, as well as equality in marriage, divorce, wage equality, and access to sexual and reproductive health.
Additionally, 54% of countries do not legally define rape based on the lack of freely given and explicit consent, and 51% have at least one restriction preventing women from accessing the same jobs as men.
Impact on the Digital Sector
The report underscores the importance of addressing the gender gap in the digital sector, which includes access to technology and training. Failure to close this gap could result in a loss of approximately $500 billion for low- and middle-income countries in the coming years.
Read the full article at: Progress on the Sustainable Development Goals: The gender snapshot 2024