BMV Celebrates International Women's Day
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BMV Celebrates International Women's Day

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Sofía Hanna By Sofía Hanna | Journalist and Industry Analyst - Wed, 03/08/2023 - 16:37

To celebrate International Women's Day, the Mexican Stock Exchange (BMV) joined the “Ring the Bell for Gender Equality” initiative for the fifth consecutive year to raise awareness about women's empowerment in the business sector and the stock market. 

The event was organized by the Ministry of Women of the Government of Mexico City (SEMUJERES), Bank of Mexico (Banxico), Ministry of Finance and Public Credit (SHCP), National Banking and Securities Commission (CNBV), Women in Finance (MEF), Global Compact, UN Women and Members of the Board of Directors of the BMV. 

"Fortunately, we are not the only ones who have done something to promote women; there are more and more companies that are adhering to practices of inclusion, diversity and women's empowerment principles, which is mapping out a roadmap for battling against gender inequity,” says José-Oriol Bosch Par, CEO, BMV. As part of its commitment to gender equity, BMV has participated in the signing of principles for women's empowerment and in the ten principles of the UN. To date, 50% of BMV's employees are women. The organization also created a women's community and an internal group for collaboration and inclusion.   

"We women hold half of the world and to build equality, it is not only necessary to recognize the need for women's participation, but also for women to enter and participate as we do in all areas of life. It is not enough to break glass ceilings; for others to pick up the broken glass, we all have to get there and no one has to be left behind," says Ingrid Gómez Saracíbar, Director, SEMUJERES. 

The glass ceiling is built on cultural, business and political factors, some easier to detect than others. These factors include sexism when it comes to applying preconceived roles to people based on their gender, according to WTW. During the event, Galia Borja Gómez, Deputy Governor, Bank of Mexico (Banxico), said that along the way, the country has continued to face new challenges to address inequalities. The impact of the pandemic was not the same on women as on men. For example, it caused an increase in housework, which usually falls on women. This increase represented one of the biggest obstacles to equality for women in the labor market. In Mexico, women spend about 25% of their time on housework, twice as much as men. 

"In response to these challenges, technological developments and innovation processes have proven to be important tools that allow for the flexibilization of the workday and favor women's professional development," says Borja.

Much emphasis was placed on the need for greater access to technological tools and careers as part of the opportunities available to women. "To talk about gender equity and technological inclusion is to talk about interrelated and interdependent issues," says Denisse Montesinos, Co-Founder, Women in Finance. 

Incorporating the gender perspective in scientific and technological efforts of digital education is vital to achieving gender equity in Mexico and sustainable development of the country, according to UNICEF. Only 38% of those studying careers in science, technology, engineering and mathematics (STEM) in Mexico are women. 

Access to new technologies without adequate protection policies also puts women at risk, especially girls and adolescents, as reported by MBN. About 9 million children over 12 years of age have suffered cyberbullying in the country, with higher levels of exposure among adolescents and younger girls. Sexual advances and propositions (36%) are the most frequent problems. Without good management of technological tools, gender equality could be threatened, says Lourdes Colinas, National Program Officer, UN Women Mexico. In Latin America, 40% of women cannot connect to the Internet; this represents about 89 million women, equivalent to the total population of Argentina and Colombia. "Not being digitally literate today leaves them in a context similar to 30 years ago when they could not read or write. Digital exclusion is a new form of illiteracy," says Colinas. 

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