IFC Launches Initiative with Firms in Mexico to Boost Opportunities for Women in Workforce

Mexico City, April 7, 2022—To reduce gender gaps and promote diversity and inclusion in the Mexican labor force, IFC, in partnership with the Government of Japan, has launched an initiative called Mexican Companies for Equity (Empresas Mexicanas por la Equidad, or EM-X) that is expected to benefit over 450,000 employees across several Mexican and global companies.

Under the EM-X program, 17 companies agreed to form a peer-learning platform where they will share information and good practices, while taking measurable steps to close gender gaps and promote inclusion in their operations. Examples of these commitments include: carry out salary pay gap studies; increase the representation of women in leadership positions; support working parents; prevent and respond to bullying, harassment, and gender-based violence; and diversify the supply chain.

EM-X will be implemented throughout 2022.

Reducing gender gaps in the labor market is a key opportunity for Mexico. According to a World Bank study, if women participated equally to men, the per capita income in the country could rise 22 percent.

Juan Gonzalo Flores, Country Manager of IFC Mexico, said: "Gender equity is a priority for IFC, not only because it represents a moral and social imperative, but also because it is an essential requirement for development. The consensus among analysts and researchers is unanimous: there is a link between a higher proportion of women in business leadership and better environmental, social and governance outcomes. We are proud to participate with these 17 organizations in EM-X, an initiative that we are sure will contribute to reduce the gender gap that still afflicts the Mexican business community."

The 17 companies participating in the program are: Bioparques de Occidente, Citibanamex, Clip, Conekta, El Puerto de Liverpool, FEMSA, Google, Grupo Altex, Grupo Coppel, Grupo Siete Leguas, Grupo Xcaret, HSBC, Konfío, Mastercard, PayPal, Sempra Infrastructura, and Uber.

About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
 
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