The Coca-Cola Company is taking a decisive step further in its commitment to help positive social changes continue around the globe. The company, which reported that it has recently awarded $9.6 million in grant awards to more than 40 global community organizations during the third quarter of 2011, yesterday, September 22, announced a partnership with UN Women partnership to promote women’s economic empowerment.

«We believe there is no better time to invest in women as engines of economic growth and sustainable development. Women are the fastest-growing economic force, and no business or economy will be able to grow without them. This partnership with UN Women, which leverages their extensive expertise, will greatly impact our efforts to enable the empowerment of women around the world,» said Muhtar Kent, Chairman and CEO of The Coca-Cola Company.

Photo: Muhtar Kent, CEO and Chairman of The Coca-Cola Company, and Michelle Bachelet, Under-Secretary-General and Executive Director of UN Women, launch new global partnership at CGI

A year ago, the beverage giant announced the 5 BY 20 pledge to enhance economical opportunities for 5 million of women entrepreneurs around the globe by 2020. To reach this goal, the company launches a range of programs designed to support and empower owners of small businesses such as fruit farms, art shops and recycling collectors to name but a few within Coca-Cola chain. The new partnership, through which Coca-Cola and UN will offer skills training, financial services and support networks to women, reflects the strategy of the 5 BY 20 and UN Women’s Strategic Plan.

The Plan was presented in April 2011 and designed to provide for a range of improvements in the area of female involvement in business, expanding their leadership and participation, ending violence against women, making gender equality priorities central to national planning and budgeting at all levels to name among others. UN also developed the Women’s Empowerment Principles—Equality Means Business, a set of measures which is created to provide better conditions for women’s empowerment in business, which was signed by Mr. Kent at the meeting.

According to the press release, “work is already underway at the country level to identify potential programs in areas such as business skills training programs for women-owned recycling cooperatives and women-run shops. Each organization will bring their expertise and capacity to the table through concrete on-the-ground programs.”