Bias, data, and progress: Elevating women in climate and finance
As the year draws to a close, numerous lists emerge celebrating leaders across industries. These lists often highlight high-profile figures at the top of the pyramid—the "big names" widely recognized for their contributions. While their work is undeniably important, a critical question arises: What about the "missing middle"? The individuals behind the scenes, essential to driving progress and finding solutions, often lack public profiles and recognition.
This gap is particularly stark in the realm of Artificial Intelligence (AI). The biases inherent in AI systems, especially against women, are well-documented. As we enter the age of large language models (LLMs) like ChatGPT, it’s worth asking: do these systems and the lists they rely on perpetuate these biases? After all, AI is only as unbiased as the data it's trained on.
For example, research by the World Economic Forum shows that AI-powered recruitment tools tend to favor men over women due to biases embedded in historical hiring data. The financial sector demonstrates similar disparities. Women hold only 11% of fund management roles, with just 13% of mutual fund assets under their management, despite more women entering the field. These figures have stagnated for over a decade. In investment decision-making roles, women account for less than 10% of portfolio managers. In 2023, female-founded startups received only 2.1% of total U.S. venture capital investment, underscoring the scale of underinvestment in women-led initiatives.
This pattern persists across business and finance. While gender representation is relatively balanced at entry levels, it drops drastically further up the hierarchy. The reasons for this are complex and multifaceted. One thing is clear: women often play pivotal roles in achieving success but rarely receive the recognition their contributions deserve.
When we set out to identify leading women in business, finance, and climate for the community-driven Fin-Erth events in Chicago, Dubai, and Singapore, we turned to ChatGPT for help. The results were disappointing. Despite queries for prominent women in these fields, the tool primarily suggested activists or NGO leaders—rarely business leaders. It was as though women didn’t exist in these sectors. In contrast, a similar query for men yielded endless lists of names.
One of the most revealing responses came when ChatGPT, after naming two women in a particular region, added: "Although not a woman, this man (insert BIG name) is doing XYZ." This reflects not a fault in AI itself, but a societal tendency to elevate CEOs, leaders, and public figures—the "big names"—while overlooking those quietly driving change.
Determined to challenge this, we decided to create new data. We asked the business, climate, and sustainability communities to nominate women who are quietly but powerfully driving solutions. The response was extraordinary: nearly 600 nominations from over 45 countries, including contributions from some of the most significant names in the industry.
The exceptional quality and quantity of women nominated revealed the immense scope of impactful climate work being done by women behind the scenes. These efforts, often overlooked in the public eye, are led by women innovating, organizing, and implementing critical solutions. While their contributions may not always make headlines, they are laying the groundwork for systemic changes essential to progress. Though the pace of change may seem slow, these foundational efforts are crucial for driving lasting transformation.
Our hope is that this list will serve as a platform to highlight and celebrate women in business, finance, and climate who are tirelessly working behind the scenes. By recognizing their contributions, we aim to foster more inclusive growth and catalyze systemic change. This list is a tribute to the innovators, the doers, and the women who are quietly—but powerfully—shaping our future.
Full award list now published.
Sian Sutherland is Co-Founder of A Plastic Planet and PlasticFree.
