A groundbreaking report from the World Bank Group sheds light on the extensive gender gap prevailing in workplaces worldwide, surpassing previous estimations. Women, Business, and the Law report reveals that women, when considering legal disparities in violence protection and childcare access, possess less than two-thirds of the rights afforded to men. This gap exists universally, even in the most prosperous economies.

The latest report introduces new indicators, emphasizing safety from violence and childcare accessibility, crucial factors influencing women’s workforce participation and overall prosperity. When these measures are incorporated, women typically benefit from only 64% of the legal protections granted to men, a significant reduction from the previous estimate of 77%.

Moreover, the report evaluates the disparity between legal reforms and actual outcomes for women across 190 economies, unveiling a shocking implementation gap. Although laws suggest that women have approximately two-thirds of men’s rights, the average country has established less than 40% of the necessary systems for full implementation.

For instance, while 98 economies have laws mandating equal pay for equal work, only 35 have implemented measures to address pay transparency and enforcement mechanisms, exacerbating the gender pay gap. Effective implementation of equal-opportunity laws hinges on robust enforcement mechanisms and essential support systems, including tracking gender-related pay disparities and healthcare services for survivors of violence.

Indermit Gill, Chief Economist of the World Bank Group, emphasizes the transformative potential of closing the gender gap, which could amplify global GDP by over 20%. However, the pace of reforms has slowed significantly, hindering progress toward gender equality in business and the law.

Despite commendable efforts in instituting equal-opportunity laws, the implementation gap remains substantial, as illustrated by the case of Togo. While Togo has enacted laws granting women approximately 77% of men’s rights, it has only established 27% of the necessary systems for full implementation, reflecting a broader trend in Sub-Saharan economies.

The report highlights the urgent need for reforms, particularly in areas such as women’s safety and access to childcare. The global average score for women’s safety is alarmingly low, indicating inadequate legal protections against violence and harassment. Similarly, childcare laws are lacking, with only a fraction of economies providing financial support or quality standards for childcare services.

Moreover, women face obstacles in entrepreneurship, pay equity, and retirement benefits, perpetuating financial insecurity and inequality. Increasing women’s economic participation is not only a matter of fairness but also economic necessity, as countries cannot afford to sideline half of their population.

As the report emphasizes, accelerating efforts to reform laws and enact policies empowering women is imperative for fostering inclusive economic growth and shaping a more equitable future.