The EU election results are being counted as we speak and the final figures won't come until Wednesday. The promised right turn did occur, albeit not on such a massive scale as in some scenarios. The conservative group in the parliament EPP currently has 189 seats and it is mainly in Germany, France and Italy, where far-right parties have gained ground. In this light, Sweden can be seen as a positive exception where progressive parties moved forward and the right is retreating, the Left currently has 10.9% and the Green party 13.8%, the Sweden democrats loses one mandate.
At European level, the green group in the parliament loses 18 seats and Renew (the liberals) 19 seats ( awaiting final results). Despite talking about important future issues such as green growth, cohesion and equality, European voters did not trust the message. It will be an interesting task to see how progressive parties can take on this challenge and change the narrative.
One promising way of driving progressive values is through capital markets and future looking businesses. Two days before the election, I was the organizer of a webinar on how capital markets can drive change, and also create a more lively discussion with the public on investment strategies for gender equality and green growth.
“Sustainable Capital Markets: Leveraging Gender Equality for Green Growth”.
Mr. Peter Norman, former Minister of Capital Markets Sweden has a long-standing experience in driving change through state-owned enterprises and capital markets. Peter started the webinar off by advocating for integrating gender equality principles into investment strategies, aligning with trends in Environmental, Social, and Governance (ESG) considerations. He also cautioned that, nonetheless, conflicts may arise, as evidenced by recent divestments from firms with contentious practices. He envisions a future where investment portfolios serve as catalysts for women & economic empowerment, concurrently fostering financial prosperity and social progress. By championing gender equality funds and pioneering innovative engagement strategies, he anticipates a transformative landscape, albeit acknowledging the protracted journey towards substantive equality.
Mr. Robert Lindblom, Portfolio Manager at Ocean Fund and CEO of Entropics Asset Management AB, shared insights on leveraging capital markets for positive change. With three decades of experience in insurance and asset management, he a trailblaizer in sustainable finance. As founder of Entropics Asset Management in 2013, he pioneered Scandinavias first mutual fund invested in catastrophe bonds, providing returns while safeguarding societies post-disasters. In 2023, he launched The Ocean Fund, driving returns by investing in the blue economy for a sustainable Baltic Sea.
Robert emphasized that “Gender equality isn’t just a moral value; it’s a smart investment strategy”. Robert Lindblom supports this belief, advocating for gender equality in investments to drive financial returns and promote sustainable development. He shared that “Research highlights the financial advantages of gender equality. Companies leading in this area are 15% more likely to outperform their peers. Additionally, a 10% increase in gender diversity at the executive level correlates with increased profits. Over a decade, diverse workforces tend to perform 1.2% higher in terms of profitability”
Mrs. Camilla Wagner, Chair of the Fredrika Bremer Foundation, resonated with the audience through her expertise in gender equality and leadership. With over two decades of tireless advocacy for women’s rights in Sweden, Camilla stands as a beacon of progress, representing Sweden at international conferences and influencing human rights and gender equality discussions.
Camilla actively amplified the voices of marginalized communities, shedding light on their struggles and advocating for their inclusion in decision-making processes. Her commitment to fostering dialogue on gender parity was palpable, as she encouraged open and honest conversations aimed at addressing systemic inequalities. Overall, her passionate dedication to advancing gender equality and promoting inclusive leadership left a lasting impression on the audience, inspiring them to take action towards creating a more equitable and just society.
I was the last speaker and could draw upon my experience from my years in the European Parliament and G100’s Country Chair for the Circular Economy Wing in Sweden. I high-lighted the fund in promoting gender equality initiatives. The webinar provided insights into how the fund can drive positive change and empower women in various sectors.
