corporate citizenship

Coca-Cola Invests $2 Million to Help Break the Glass Ceiling

Posted by Sheila Shayon on April 5, 2012 03:02 PM

Coca-Cola has committed $2 million to Catalyst Inc., a U.S.-based nonprofit organization focused on accelerating the advancement of women globally.

"At The Coca-Cola Company, we believe the real driver of the 21st century will be women, who will play a pivotal role in shaping our global economy and our society," stated Ingrid Saunders Jones, Chair of The Coca-Cola Foundation. "As we considered the global needs of women and the extraordinary work being done by Catalyst, we chose to support Catalyst in a way that would enable women worldwide to succeed."

The multiyear award will be used to create the Center for Corporate Practice Research, leveraging two decades of corporate inclusion initiatives to disseminate globally in support of gender parity.

Catalyst, founded in 1962, is the leading nonprofit membership organization for expanded opportunities for women and business. “In 2011, women held 7.5% of executive officer top earner positions at Fortune 500 companies and a miniscule 3.6% of those firms have women as CEOs. According to a study by Pax World, Calvert and Walden Asset Management, a paltry 9.4% of directors on global corporate boards are women.”

Coca-Cola Company has awarded more than $1.2 million to Catalyst in the past for sponsorships and operating support, as part of its 5 BY 20 commitment to enable economic empowerment of 5 million women entrepreneurs across its global value chain by the year 2020. This year’s donation coincides with Catalyst's 50th anniversary celebration held this week.

Closing the gender gap provides a basis for a prosperous and competitive society. Regardless of level of income, countries can choose to integrate gender equality and other social inclusion goals into their growth agenda – and have the potential to grow faster – or they can run the risk of undermining their competitive potential by not capitalizing fully on one-half of their human resources. The economic incentive for closing the gender gap in health, education, economic opportunity and political power is clear."

[Image via Shutterstock]

Comments

Evelyn Samuel Malaysia says:

WOW! What an excellent show of cause-related branding.

April 6, 2012 08:44 AM #

shankar Saudi Arabia says:

Swiss women account for 42 percent of the workforce,
but only 18 percent have made it to middle-ranking executive, and a meager 1 to 3 percent
have successfully integrated into top management-  this is the picture in the developed world women's participation have been marginalized where women are still concentrated in clerical jobs, sales, teaching, and nursing.
it is good see the cola company which has always done good work to reinforce its commitment towards empowerment, however  It is up to both men and women to challenge the traditional norms to bring about a genuine change in women’s condition.

April 7, 2012 06:00 AM #

Advocare United States says:

Great post and very informative article, I’m a regular visitor of your website and appreciate you taking the time to maintain the excellent site. I'll be a frequent visitor for a really long time.

April 9, 2012 07:16 AM #

Peter Chadwick United Kingdom says:

It's great to see Coca-Cola, and Ernst & Young supporting Catalyst's important work. A question often raised: is why are most major corporations still wedded to tradional linear career progression? Which so often hampers women's progress. Jenny Ringo expressed it well in this piece. www.iedp.com/Blog/Breaking_Barriers_Women_Leaders
If you have done any research in this area we would love to hear about it.

April 12, 2012 10:03 AM #

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