OTTAWA, ON, March 8, 2022 /CNW/ — Over the course of my career, I have seen the benefits of having women in leadership and I now recognize more the importance of gender equality. As Commissioner of the Financial Consumer Agency of the Canada (ACFC), I know that working harder to close the gender gap will also benefit consumers of financial products and services.
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Judith Robertson Commissioner of the Financial Consumer Agency of Canada (CNW Group/Financial Consumer Agency of Canada)
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The theme of government Canada for International Women’s Day for this year is ‘Feminine Inspiration’ and the international theme for the day is ‘Breaking Down Prejudice’. We are asked to imagine a world free of prejudice, stereotyping and discrimination that is diverse, equitable and inclusive. In our National Strategy for Financial Literacy, FCAC recognizes these important issues and invites all stakeholders in the financial ecosystem to adopt approaches and adapt programs to women, especially those belonging to communities that may be more financially vulnerable. The National Strategy promotes a financial ecosystem that is accessible, inclusive and effective for all Canadians, particularly those members who need it most because of barriers or their personal circumstances, including women.
Women face unique challenges, including systemic and societal barriers in the financial market. For example, women entrepreneurs face more barriers to accessing financing and are more likely to have their applications rejected or receive less financing than men. Additionally, women have been disproportionately impacted financially during the pandemic. And it is without forgetting that there is still a disparity between the sexes in the world of work, particularly for Aboriginal, immigrant and racialized women.
For our part, FCAC is conducting research to better understand how we can adapt our activities to help women increase their financial resilience. For example, we recently launched a financial literacy intervention aimed at high school students since it is crucial that young women of this age begin to build their financial confidence.
It is encouraging to know that the Canadian banking sector stands out when it comes to the representation of women in leadership roles. Let’s hope the trend continues all the way to the top of the pecking order. In fact, I’m happy to see the emergence of organizations like Women in Capital Markets or the Women in Finance initiative at the University of Waterloo, which promote equity, diversity and inclusion and seek to close the gender gaps in the world of finance.
So let’s continue to work together to inspire women and to create more opportunities to break down prejudice.
Learn more about the Financial Consumer Agency of the Canada
SOURCE Financial Consumer Agency of the Canada
For further information: Léonie Laflamme Savoie, Media Relations Strategist, [email protected](343) 999-1450
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