Green economy: beneficiaries and losers

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Innovation and sustainable development now have more opportunities thanks to the transition to a green economy. New types of jobs are being created as nations take steps to lower carbon emissions, make investments in renewable energy and build infrastructure that is climate resilient. The future of work is thought to depend on these so-called green jobs. But a crucial question is brought up by this shift: who will benefit and who might be left behind? Especially, how does this change affect workforce gender equality?

Women still make up only about 16% of the workforce worldwide in the energy sector. The percentage is marginally higher in renewable energy, where women comprise roughly 32% of the workforce. However, most of these jobs are in lower-level or administrative roles. Since they are underrepresented in STEM (science, technology, engineering and mathematics) education, women are rarely seen in technical or leadership positions. Women lose out on the high-paying, technical jobs that are expanding at the fastest rate in the green economy if they are unable to access these fields.

The situation is even more challenging in Pakistan. Women only make up 4% of technical positions in the energy industry, and many female engineering graduates are either unemployed or not actively employed. Even if women do work in the energy or environmental sectors, their opportunities for advancement into leadership positions are typically limited to non-technical roles like support or communication. Women's ability to fully benefit from the green economy is limited by their lack of representation and opportunity.

When it comes to launching or expanding green businesses, Pakistani women entrepreneurs also face significant obstacles. Despite introducing Green Banking Guidelines and providing some incentives for green finance, the SBP's policies do not always consider the particular difficulties faced by women. For instance, many women are excluded from business networks, do not have access to collateral or experience discrimination in financial institutions based on their gender. Women-owned green businesses will find it difficult to compete or expand without greater support.

The carbon credit market, where nations or businesses can purchase and sell credits based on how much carbon they emit or reduce, is a new area of economic activity. New regulations to permit trading in this market were recently announced by Pakistan. This presents a risk even though it might generate revenue and encourage low-carbon development. The advantages may once more go primarily to men and those in positions of power if women and other marginalised groups are not actively included in this market. Women must be represented in these markets at all levels, from project design and ownership to policymaking, in order for them to be equitable.

Gender equality must be taken into consideration when developing policies to ensure that the green economy benefits everyone. First and foremost, more needs to be done to inspire women and girls to pursue STEM fields. Green technology training, mentorship programmes and scholarships can all help women get ready for the workforce of the future. For women who wish to work in green industries but might not have received formal training in the field, governments and businesses must also create specialised training programmes.

Another crucial area is financial accessibility. Financial institutions must create products that are specifically designed to meet the needs of women, such as low-interest financing, collateral-free loans and money management education. In order to support the success of their businesses, women also require improved access to networks, markets and information.

Making sure women have a say in decision-making is another crucial step. Women have to be represented in government climate policy, neighborhood green initiatives and global sustainability debates.

Data is also crucial. Gender-disaggregated data should be gathered and used by organisations and governments to track progress and inform policy.

In summary, the shift to a green economy presents an opportunity to combat climate change while simultaneously fostering more equitable and inclusive communities.