UN Women and the UN Global Compact’s collaborative initiative Women’s Empowerment Principles (WEPs) acknowledges that nearly all countries have worked to address the historical wrong-doing brought upon women. Although there has been progression, it is evident that equal participation of women throughout the private sector remains unfulfilled.

The report outlines the necessity for gender diversity across all sectors and levels of economic life, ensuring the inclusion of women’s talents, skills, experience and energies will help boost the economy and improve the quality of life. The WEPs provide a set of considerations to help the private sector focus on key elements integral to promoting gender equality in the workplace, marketplace and community.

Principle 1:
This point is concerned with establishing gender-sensitive policies at the top-level, in order to advance gender equality principles company-wide. By engaging internal and external stakeholders, appropriate policies are able to be constructed, in turn setting a corporate culture promoting inclusion and equality.

Principle 2:
This consideration ensures there is no discernible discrimination induced from existing workplace policies and practices. Moreover, this includes equal pay for work of equal value, gender-sensitive recruitment and retention policies and assuring participation of women (arbitrarily 30% set by the UN Women and UN Global Compact Office) in decision-making and governance.

Principle 3:
Providing safe working conditions and establishing a zero-tolerance policy towards all forms of violence in the workplace is regarded as integral to ultimately empower women. As outlined in the principles, this can be achieved through offerings of health insurance or consulting employees about well-being and safety at and away from work.

Principle 4:
Providing equal opportunity in workplace programmes and training that open avenues for advancement of women at all levels and across business areas is necessary in promoting gender equity. It is important to articulate the company’s business case for women’s empowerment and the positive impact of inclusion for men as well as women.

Principle 5:
This principle established the need for business relationships to expand and incorporate women-owned enterprises. Furthermore, the report states that there is a duty to preserve the dignity of women in all marketing and other company products.

Principle 6:
This principle highlights the need for engagement and corporate leadership in driving community initiatives that empower women and girls. Moreover, this requires company executives to undertake community consultations with both male and female local leaders, to establish strong ties and programmes that benefit all community members.

Principle 7:
Encouraging transparent disclosure of company efforts towards the inclusion and advancement of women is essential. Establishing benchmarks for companies enables the business to track the effectiveness of their policy making, and allows them to make adjustments where necessary.

Overall, this report provides a framework for business leaders and companies to follow as a guideline to advance equality between women and men. Research suggests that it is beneficial on a business-level, but also expands to foster a sustainable development and a more fair and just society.

1. Despite progression of women's rights in the modern world, they are still subjected to levels of discrimination, marginalisation and exclusion.
2. Internationally agreed on documents such as the Beijing Platform for Action adopted by all nations in 1995 and the Millennium Declaration in 2000 contribute to the overarching human rights framework, and also serves as a microcosm of the aspiration for equal opportunity.
3. Current research demonstrating that gender diversity helps businesses perform better, signals that self interest and common interest can come together. Under each of the seven principles, there are real-world examples of companies implementing gender equality and women's empowerment.
4. Measuring each business' engagement with these principles is diverse by nature, as the most powerful assessment tools derive from an organisation's own culture and objectives.
5. Despite growth away from poverty in the last 50 years, 1.2 billion still subsist on less than $1 per day. According to some estimates, women represent 70% of the world's poor.
6. In 2006, statistics detail that 800,000 people are trafficked across national borders annually. Approximately 80% of these victims are women and girls, and up to 50% are minors.
7. In 2007, Goldman Sachs ascertained that the Eurozone, Japanese and US GDPs could increase exceptionally if the equality gap was just simply addressed.
8. The AIDS epidemic has had a unique impact on women, exacerbated by their role within society and their biological vulnerability to HIV infection - more than half of the estimated 33 million people living with HIV worldwide are women.
9. Two-thirds of the estimated 776 million adults who lack basic literacy skills are women. Moreover, in developing countries nearly 1 out of 5 girls who enrolls in primary school does not complete her education.
10. Investing in women can yield a significant return- a report carried out by Deloitte highlights that 80% of total consumer spending is controlled by roughly 80% of women globally, and that bringing women into leadership positions can be extremely attractive.