WEBVTT - Seneca Women's Ambassador Verveer on Economic Progress (Audio)

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<v Speaker 1>Global business news twenty four hours a day at Bloomberg

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<v Speaker 1>This is a Bloomberg Business Flash ron Bloomberg World Headquarters.

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<v Speaker 1>I'm Charlie Pelata. An intra day high for the nastack

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<v Speaker 1>Compositive Index today, no records, but the tal, the SMP

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<v Speaker 1>and nezdak all advanced. SMP five hundred index up four

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<v Speaker 1>to six, a gain there of two tenths of one

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<v Speaker 1>percent down industrials up seventeen, a gain of one tenth

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<v Speaker 1>of one percent to now at eighteen thousand, five hundred

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<v Speaker 1>forty seven. The SMP five hundred in next, by the way,

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<v Speaker 1>just about four points shy of a record. Nastack up

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<v Speaker 1>fifteen fifty two sixty a gain of three tenths of

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<v Speaker 1>one percent, ten year yield, one point five four percent

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<v Speaker 1>gold down eighty cents the ounce the thirteen thirty eight,

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<v Speaker 1>the drop of one tenth of one percent crude West

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<v Speaker 1>Texas Intermediate crude oil of one point two percent of

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<v Speaker 1>fifty six cents of barrel forty seven ninety seven on

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<v Speaker 1>West Texas Intermediate. I'm Charlie Pellatin. Thatath's a Bloomberg Business flash.

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<v Speaker 1>You're listening to Taking Stock with Bim Box and Kathleen

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<v Speaker 1>Hays on Bluebird Radio. In twenty fifteen, female full time

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<v Speaker 1>workers made only seventy nine cents for every dollar earned

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<v Speaker 1>by men. That equates to a gender wage gap of

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<v Speaker 1>twenty one per cent. Women on average earn less than

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<v Speaker 1>men in virtually every single occupation for which there is

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<v Speaker 1>sufficient earnings data for both men and women in order

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<v Speaker 1>to calculate this ratio, and here to tell us more

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<v Speaker 1>about the progress that women are enjoying and continue to

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<v Speaker 1>build for themselves is Ambassador Milan Vervier. Ambassador Vervia is

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<v Speaker 1>a co founder and executive director of Georgetown University's Institute

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<v Speaker 1>for Women, Peace and Security, and as a note, she

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<v Speaker 1>was appointed by President Obama to be the first ever

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<v Speaker 1>ambassad that are at large for global women's issues at

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<v Speaker 1>the U. S. State Department. Ambassador Revere, thank you for

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<v Speaker 1>being with us. It's a pleasure. Thank you. Now, I

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<v Speaker 1>want to just note there are a couple of anniversaries

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<v Speaker 1>which seem to have not necessarily hit the headlines, and

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<v Speaker 1>one was last week. Would you like to tell us

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<v Speaker 1>about the nineteenth Amendment? Well, the nineteenth Amendment is the

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<v Speaker 1>amendment that gave women in the United States the right

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<v Speaker 1>to vote. Uh. Actually it's August. Uh, so we're nearing

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<v Speaker 1>the day. And when you look back at those almost

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<v Speaker 1>one hundred years, we have indeed made a great deal

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<v Speaker 1>of progress in the United States, but as you pointed out,

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<v Speaker 1>in terms of the wage gap and so much more,

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<v Speaker 1>we still have a way to go. The Seneca Falls

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<v Speaker 1>Convention took place many years before the Nineteenth Amendment was ratified.

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<v Speaker 1>Many people might not know about that particular event. Tell us, well,

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<v Speaker 1>it was the first equal rights convention in the United

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<v Speaker 1>States where women and men. And I think it's important

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<v Speaker 1>to say that women's progress is about progress for everyone,

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<v Speaker 1>and men are a big part of that effort. Uh.

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<v Speaker 1>And about a third of the participants in Seneca Falls

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<v Speaker 1>were men. Uh. And they came together to really work

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<v Speaker 1>and create a bill of particulars, if you will, uh,

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<v Speaker 1>to move forward for equal rights for women in this country. Now,

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<v Speaker 1>that's been a long time ago. We've come a long

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<v Speaker 1>way in the process, but we're still on a journey

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<v Speaker 1>in this country, and certainly women around the world are

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<v Speaker 1>still on a journey for full equal rights. Yes, that

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<v Speaker 1>Seneca Falls Convention was held in July of eighteen forty eight.

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<v Speaker 1>Now you are also the co author with Kim as

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<v Speaker 1>a reli of Fast Forward How Women can Achieve Power

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<v Speaker 1>and Purpose? Can you give us some examples of how

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<v Speaker 1>how women are using the tools that are available or

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<v Speaker 1>creating their own tools in order to bridge that wage

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<v Speaker 1>gap that I described well, The thesis of the book

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<v Speaker 1>is really to put forward the fact UH that fast

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<v Speaker 1>forwarding women and girls enabling them to advance fully, whether

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<v Speaker 1>in the economies of the country or in various social

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<v Speaker 1>ways access to education, healthcare, etcetera, that all of this

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<v Speaker 1>is critical to creating a better world, and corporations and

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<v Speaker 1>governments increasingly are recognizing this. UH. There is an evidence

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<v Speaker 1>base case today as there was not U before. UH.

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<v Speaker 1>Data from all kinds of sources, multilateral organizations, governments, the

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<v Speaker 1>private sector, from the World Economic Form to the World

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<v Speaker 1>Bank UH are is demonstrating that UH. Today we know

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<v Speaker 1>that women's economic participation, for example, is absolutely crucial for

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<v Speaker 1>econ comic growth, for jobs creation, for inclusive prosperity. We know, UM,

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<v Speaker 1>if we're companies that if we diversify our workplace, if

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<v Speaker 1>we put women into upper management and boards of directors,

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<v Speaker 1>that our bottom line is going to be better that

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<v Speaker 1>increasingly this is about not just the moral imperative that

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<v Speaker 1>it is, but that it is the smart thing to do.

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<v Speaker 1>And for businesses, it's about business performance. It's about the

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<v Speaker 1>bottom line. And in the book we point out how

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<v Speaker 1>more and more companies and women in companies who are

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<v Speaker 1>rising to UH positions with authority are making a difference

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<v Speaker 1>to recognize this evidence space case and to move their

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<v Speaker 1>their their companies forward and the process also to move

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<v Speaker 1>women forward UH wherever they are in business. Now, I

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<v Speaker 1>just want to note that in addition to co authoring

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<v Speaker 1>the book with Kim Azzarelli, you have both founded Seneca

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<v Speaker 1>Point Global. What is Seneca Point Global? And maybe you

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<v Speaker 1>can transition there to tell us about the glass ceiling

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<v Speaker 1>that exists in politics and business. What's the state of

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<v Speaker 1>that glass ceiling? Well, Seneca Point Global. Obviously, Seneca is

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<v Speaker 1>from the what we talked about a little earlier, the

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<v Speaker 1>Seneca Falls Equal Rights Convention and that urgency that continues

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<v Speaker 1>to be with us UH and it's an effort to

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<v Speaker 1>fast forward, if you will, UH women and girls globally

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<v Speaker 1>to create a better world and to create the kinds

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<v Speaker 1>of outcomes UH in terms of economic and social progress

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<v Speaker 1>that I think we all want to see. But the

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<v Speaker 1>reality is we are still up against call it a

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<v Speaker 1>glass ceiling, call it barriers of one kind or another. Uh.

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<v Speaker 1>Whether they're in in legal frameworks, whether there are parts

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<v Speaker 1>of mindsets, whether they're stereotypes, whatever, there is still a

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<v Speaker 1>set of hurdles UH. In some places bigger hurdles and

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<v Speaker 1>other places as lower hurdles that have to be overcome.

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<v Speaker 1>In in terms of the World Economic Form, I think

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<v Speaker 1>is a good measure because it puts out an annual

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<v Speaker 1>gender gap report and what they show in that report

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<v Speaker 1>as they look at at countries in terms of the

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<v Speaker 1>gap between men and women's equality in certain areas economic participation,

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<v Speaker 1>access to health, et cetera, political participation, and where that

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<v Speaker 1>gap is closer to being closed, those economies are far

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<v Speaker 1>more competitive and there's a great deal more progress for everybody.

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<v Speaker 1>Thank you very much, Ambassador Milan Vervier, the co founder

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<v Speaker 1>of Georgetown University's Institute for Women, Peace and Security. This

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<v Speaker 1>is Bloomberg coming up. Bloomberg Laws, brought to you by

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<v Speaker 1>Bentley University. What do tying up the finances at converse

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<v Speaker 1>and managing asset allocations at JPM Moregan have in common

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<v Speaker 1>a business degree from Bentley University. Because business is everywhere.

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<v Speaker 1>Prepare here