5by20 - Women Economic Empowerment Initiative
Women are pillars of the communities as they invest a sizable portion of the money they earn on the health and education of their children and in their local economies, creating a tremendous economic impact. As such, women are critical to local and global business success and are an essential cornerstone of our progress towards our 2020 Vision. Studies show that women do 66 percent of the world’s work, yet earn 10 percent of the world’s income—90 percent of which goes back to their families and communities. To help address this disparity, we launched 5by20™ in 2010, which is our global commitment to enable the economic empowerment of 5 million women entrepreneurs across all six segments of the Company’s value chain by 2020. Drawing on local expertise, capabilities and resources, 5by20 aims to help women entrepreneurs overcome the common social and economic barriers they face due to the lack of business skills training, financial services, assets, peer networks and mentoring.
India was one of the four markets, where 5by20 was piloted in 2010 (other pilot markets being Brazil, South Africa & Philippines). Since then the program has grown and become an integral part of our sustainability initiatives. We are scaling up initiatives with high potential to create economic impact on women entrepreneurs and our business.