’Women are solution to global economic crisis’

By Kim Tae-jong

The president of an international women’s organization blames the male-dominated economy for the current global financial crisis, demanding equal participation of women and men in decision-making roles at all levels.

“Having a homogenous board is not the answer, because that was the result of the global financial crisis that we all experience now,” Freda Miriklis, president of the International Federation of Business and Professional Women (BPW International), said in an interview Wednesday. “We, the BPW International, believe women are the solution to the global economic crisis.”

She pointed out that a male-only board can come out with monotonous ideas but a board of both men and women can have “different perspectives and solutions to problems in a very different way.”

“That needs to be reflected in the spirit of the organizations. We will not only see profits increase and but also see better workplaces and more meaningful contributions,” she said.

She came to Seoul to participate in the Global CSR Conference 2011 as one of the key speakers, which was held through Wednesday at the Shilla Hotel under the theme “Enhancing corporate sustainability through the U.N. Global Compact” with about 600 business leaders, politicians, activists and bureaucrats from 15 countries attending.

In her speech, she addressed the Women in Empowerment Principles (WEP), a new initiative that the BPW International has been actively promoting.

The WEPs have been co-created by U.N. Development Fund for Women in collaboration with U.N. Global Impact for the purpose of gaining economic equality for females across the globe.

BPW International’s primary function is to foster economic sustainability for women on a global scale, while nurturing their professional goals.

She urged Korean companies such as Samsung, LG and Hyundai to join its campaign of empowering women through concrete actions.

“They are world leaders in their industries and should be setting examples. This is not about just saying, ‘yes, OK we agree with the women’ empowerment principles’ and not doing anything. Your companies should make efforts to change things,” the Australian native said.

She also asked CEOs of local companies to support their campaign by signing the Statement of Support, in which she believes they can demonstrate their leadership on gender equality and women’s empowerment and also encourage other business leaders to do the same.

She also emphasized that the whole procedure to abolish stereotypes against women should involve men’s participation.

“We recognize that this is not just about women getting to the top of a mountain and leaving behind men. They recognize that men are important. We really need men who understand the impact of what we’re doing and what it means,” she said.

Miriklis also expressed her expectations for the BPW International Congress in Jeju in 2014, which will be hosted by BPW Korea. The global congress is held once every three years. In 2008, the congress took place in Mexico City and Helsinki hosted the event in June this year.

“This will be your moment and opportunity to show the world what you have done and accomplished in Korea,” she said.

They have just launched a new initiative here, called Project CEO, through which they will encourage local companies to start to engage in the WEP with their goal to have 1,000 CEOs sign to support it, she said.