MBR_ISSUE 46_NOV_DEC_18_LowRes

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Malta Business Review GENDER PAY GAP GENDER PAY GAP “The existence of a gender pay gap stops us from having an inclusive economy, and creates another barrier to the fair distribution of wealth” – President Coleiro Preca President of Malta Marie-Louise Coleiro Preca presided over the launch of an awareness video about the gender pay gap, coordinated and produced by the President’s Foundation for the Wellbeing of Society. This video is the direct result of a conference which the foundation organised earlier this year. Having brought the issue of the gender pay gap to the fore during her speech on Republic Day in 2016, the President noted that both major political parties represented in Parliament have committed themselves, through their electoral manifestos, to address this important concern. “I hope that this video will further explain our concern about the gender pay gap, as up till now, there is still some confusion between the issue of equal pay and the gender pay gap” the Icelandic Parliament, who legislated the very first gender pay gap law. “The gender pay gap does not only create gender inequality during working age, but it also directly affects the pensions of retired women” According to data from the World Economic Forum, the gender pay gap is one of the factors that is making one third of women poorer, when compared to men, when they reach the age of retirement. On a national level, the President said that indicators are telling us that the gender pay gap in Malta currently stands at 11%. "The gender pay gap does not only create gender inequality during working age, but it also directly affects the pensions of retired women. President of Malta Marie-Louise Coleiro Preca from the Department of Labour Studies, we know that women, in comparison to men, are employed less often and are engaged in lower-paid sectors”, the President stated. This same research tells us that women work, on average, 6 hours longer per week than men, but they are paid for fewer hours, and they face more difficulties to achieve promotions. The President said that in order to make a long-term and sustainable change, she believes that we must follow the United Nations’ Agenda 2030 and its seventeen Sustainable Development Goals – a mandate that our country is ascribed to, and must achieve. In particular, SDG 5 specifically targets the need for gender equality, and for the empowerment of women and girls, as part of Malta’s commitment to a future of equality, equity and justice for all. President Coleiro Preca stated that equal pay is already covered by legislation, while the gender pay gap is not. She said that the conference which was organised by the Foundation earlier this year had received the support of diverse stakeholders, many of whom were also present for the launch of the video. These included the Centre for Labour Studies at the University of Malta; the National Statistics Office; the National Trade Union Forum; EMPOWER – the Platform of Organisations for Women; Ernst and Young Malta; and the former Minister for Equality in “However, this does not account for variation by industry” President Coleiro Preca said that the gap between women and men working in the financial and insurance sector is a staggering 28.3%, and the gap between women and men involved in professional, scientific, and technical activities is 23.1%. “We must acknowledge the fact that the gender pay gap in Malta has almost tripled over four years, from 4.5% in 2014 to 11% in 2018. Furthermore, according to research “I am convinced that all of us believe that the socio-economic empowerment of women will not only benefit women as an intrinsic part to achieve our rightful dignity” The President said that the socio-economic empowerment of women will contribute to the holistic wellbeing of our families, our communities and our societies as a whole, and further stated that “our efforts to achieve full gender equality and equity in the economic sectors of our country will reflect our underlying commitment to promote universal human rights and fundamental freedoms, as women’s rights are human rights.” President Coleiro Preca encouraged Parliament to take up the issue of the gender pay gap to ensure that it is effectively addressed, and urged our authorities, private sector, and civil society to go to the next level of achieving full gender equality, by working to close the gender pay gap through awareness and legislations, for the benefit of all women but also in the best interest of the girls and young women who will join the Maltese workforce in the future. MBR Credits/Photos: Office of the President 50
CSR: Business, Journalism and Society “The media has a valuable contribution to make to share information about CSR endeavours” CSR Malta Business Review President of Malta Marie-Louise Coleiro Preca delivered the opening speech at a conference organised by Fundazzjoni Tumas Fenech together with the President’s Foundation for the Wellbeing of Society, entitled ‘CSR: Business, Journalism and Society’, at San Anton Palace. The President said that during sessions of consultation held by the Foundation with diverse NGOs, many of these organisation expressed concerns that their activities were not being given sufficient media coverage, and that they could not afford to employ public relations specialists as part of their team, further stating her belief that “we must do more to motivate media representatives to respond to these concerns.” President Coleiro Preca said that the media has “the important role to be a catalyst for education, information, and an objective and inclusive voice, especially on delicate and sensitive matters,” adding that the media, “as the fourth estate of democracy must maintain an ethical perspective which respects the dignity of all the members of society, at all times.” The President said that, in this way, the media will be strengthening it own professional standards. “Corporate social responsibility has the ability to create constructive links between the private sector and society.” President Coleiro Preca stated that the role of the media is necessary, to give visibility to this important two-way communication process. The President said that it is for this reason that corporations, civil society, and the media have a duty to collaborate with one another, and stated that this collaboration will inspire others to follow their example of social responsibility. The media, the President said, can also act as a social conscience, by reminding corporations about the need to give back to society and to look beyond profits, by incorporating the principles of social justice in their work. President Coleiro Preca said that CSR Strategies will be even more effective when they are linked with the mandate of the United Nations’ Agenda 2030 and its seventeen President of Malta Marie-Louise Coleiro Preca Sustainable Development Goals. The President urged the private sector to continue taking up CSR initiatives which are inspired by Agenda 2030, by adopting the SDGs as part of their proactive approach to development and sustainability. “I am equally convinced that the Maltese media has an equally powerful contribution to make, by working alongside businesses and civil society organisations, to give the SDGs the necessary visibility,” President Coleiro Preca said. On concluding, the President stated that this united effort will empower the Maltese Islands to achieve our global responsibility: to effectively address inequalities and ot end all forms of discrimination; to stop the degradation of our environment; and to safeguard the full inclusion and the active participation of each and every member of our society. MBR CREDITS/Photos: OPR www.maltabusinessreview.net 51
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