When It Comes to Tomorrow’s Wealth, the Future Is Female: Insights From WiCT’s London Climate Action Week Panel
When it comes to tomorrow’s wealth, the future is female.
WiCT’s London Climate Action Week panel on this topic drew more attention than any of our prior events. Perhaps this is because by 2025, 60% of UK wealth will be in women’s hands. By 2030, American women will control much of the $30 trillion in financial assets passed from the Baby Boomers—a wealth transfer of such magnitude that it approaches the annual GDP of the USA.
This will impact the world in myriad ways, including climate action. Women spend differently, showing a more positive green consumption intention and purchasing green products more frequently. Women’s spending is also influenced by businesses’ dedication to gender equity. Despite this, only 16% of wealth advisers are women and only 5% have a differentiated strategy for female clients. Climate tech also fares poorly; in the words of TechCrunch: “VC funding for women climate tech founders is abysmal.”
Because of the success in London and interest in this topic, WiCT+ would like to convene a similar panel in New York, and we are in talks with the team behind the Reuters Sustainability Reporting Conference (October 2+3 in New York-more below). If your company might be interested in sponsoring a seat on such a panel at this event, please reach out to us by clicking below.