Procter & Gamble (NYSE:PG) is continuing to #ChooseEqual by taking new steps to advance gender equality at home, at work, and in society. P&G has committed to spending $10 billion with women-owned and women-led businesses by 2025 as part of this expansion of its operations. P&G has fought to enhance women’s economic empowerment across its global value chain for decades, and this is the next step in that process. The company’s goal is to increase investment in these women-owned and led firms to 10% of P&G’s purchasing expenditures over time, which is 10 times the anticipated industry average.
P&G is collaborating with UN Women, WEConnect International, the Women’s Business Enterprise National Council (WBENC), and the Women’s Forum for the Economy and Society to accelerate progress and promote change. P&G is supporting the capability building of women entrepreneurs, as well as further developing the tools, definitions, and infrastructure needed, and driving collaboration across companies and industries to join in and advance these efforts, in collaboration with its global, regional, and local partners.
Carolyn Tastad, group president—North America and executive sponsor—Gender Equality, said, “At P&G, our focus on gender equality is basic and interwoven into our business.” “We cannot allow the last year’s problems to constitute a setback for gender equality. Instead, we must take action to invest and actively choose equality. These pledges will have a significant influence on advancing gender equality around the world.”
P&G has worked for years to help overcome deeply held gender biases that often perpetuate many of the most significant hurdles to women’s development, including changing perceptions about men and boys’ roles at home. P&G and its brands are addressing the “chore gap,” or the disproportionate amount of unpaid care and domestic work performed by women in most households, as part of this endeavour.
P&G has also signed a three-year deal with Promundo, a global leader in promoting gender equality and avoiding violence by bringing men and boys together with women, girls, and people of all gender identities. P&G and its brands will use their advertising and media capabilities to change the narrative surrounding men’s domestic duties and caring.