The Panama Canal commits to the economic empowerment of women

 

The Panama Canal has formalized its commitment to gender equality and women's economic empowerment by signing the Women's Empowerment Principles (WEPs). The Panama Canal joins the 23 Panamanian companies that work together with UN Women and Sumarse - Global Compact Panama, in the economic empowerment of women, under the slogan, "equality means business”.

María Noel Vaeza, UN Women’s Regional Director for the Americas and the Caribbean, indicated that "the Panama Canal’s signature of the WEPs, will facilitate the exchange of strategies, experiences and good practices that contribute to the joint work of the Panamanian business platform, to continue promoting gender equality and women's empowerment in the public and private sectors, as a contribution to SDG#5 and the 2030 2030 in its broadest sense”.

Vaeza added, "We hope that the Panama Canal's membership in the WEPs will serve as an example of good practice and in turn be an incentive for more companies to take the initiative to sign the Women's Empowerment Principles.

"In this way we ratify our conviction in the issue of gender equality. It is still a task and there is still much to be achieved, but undoubtedly, in the Panama Canal there are many examples that we believe in the participation of women as the integral human being that represents all the values that a society can embrace," said Administrator Ricaurte Vásquez Morales.

Bruno Basile, Executive Director of Sumarse - Pacto Global Panamá, emphasized that "despite the progress made, women and girls around the world do not fully experience equal rights, which hinders their potential for economic and social development. The economic empowerment of women is key to the health and social development of families, communities, and nations.

UN Women applauded the recent appointment of Ms. Ilya Espino de Marotta as Deputy Administrator of the Panama Canal, and made a public recognition of this historic appointment, becoming the first woman to hold this position. This appointment constitutes, among other things, proof that companies that favor inclusion, diversity, and equality, benefit from the contributions made by empowered women.

 

This signature expands the participation of the maritime sector in promoting the Women's Empowerment Principles, an initiative of which the London-based Women International Shipping & Trading Association (WISTA) is already a part of and has appointed Ms. Ilya Espino de Marotta as Ambassador. The promotion of the seven principles is a joint effort between UN Women, Sumarse, Global Compact Network and the entire signatory membership of the Women's Empowerment Principles, to promote, in a sustained manner, gender equality and the empowerment of women at the highest level in Panama.

The seven principles provide practical guidance for businesses to focus on the key elements of gender equality in the workplace, the marketplace, and the community. They are an effective tool for the private sector and businesses to support the implementation of Agenda 2030 through a clearer contribution to women's empowerment.

Economically empowering women not only benefits business, but also contributes to social transformation, as empowering women in the economy and reducing gender disparities in the workplace are essential to the implementation of Agenda 2030 for Sustainable Development.