There is overwhelming evidence that achieving equality and empowerment for women has both immediate impacts that benefit them directly and broader ripple effects that are good for society.
As pillars of their communities, women invest a sizable portion of the income they earn on the health and education of their children and in their local economies, creating a tremendous economic impact.
Women around the world are already pillars of our business system. In 2010, we built on that foundation and developed our 5by20TM initiative in recognition of both the challenges faced by women and their economic potential. 5by20 is The Coca-Cola Company’s global commitment to enable the economic empowerment of 5 million women entrepreneurs across the company’s value chain by 2020.
Specifically, this means the small businesses that the Company and our bottling partners work with in more than 200 countries around the world—from fruit farmers and recyclers to retailers and artisans.
What Empowerment Looks Like
Through 5by20, we address the most common barriers women face when trying to succeed in the marketplace. This initiative offers women access to business skills training courses, financial services and connections with peers or mentors -- along with the confidence that comes with building a successful business.
The Power of Partnerships
Achieving our vision of enabling the economic empowerment of 5 million women by 2020 depends on building scalable models and powerful partnerships. In particular, our Golden Triangle approach to partnership across business, civil society and government is vital to maximizing the impact of our programs and making them more sustainable.
Scaling Through Multinational Partnerships
We have learned that it takes time to develop scalable, sustainable empowerment programs that are deeply relevant to local women and their communities. We take great care in collaborating with our partners to optimize the best local programs, and then scale the most successful of them. We believe this customized approach is the best way to ensure lasting empowerment.
To that end, we continue to collaborate with TechnoServe, the Bill & Melinda Gates Foundation, International Finance Corporation, Inter-American Development Bank and hundreds of organizations around the world to make a positive and locally relevant impact in communities and help us achieve our goal.
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