MAY 2021 PWA eConference: Recovery Fund – Where Do We Stand?

Join the conversation with our panel of experts

In Italy the effective contribution of women to the country’s economy has been undervalued since ever.
Women have traditionally carried out the majority of care work (e.g., caring for children, elderly and persons with disabilities in families) without being paid and without having the support of adequate nursing infrastructures (including kindergartens and nursing homes). They have often been underrepresented in managerial positions and, on average, have been paid approximately 20 per cent less than men for the same job. On the other hand, they have been recurrently overrepresented in informal, casual and part-time work, as well as in supply chains of numerous industries, where they are more vulnerable to exploitation, abuses as well as to changes in technology.
Because of the above, Italian women are among the most damaged categories by the economic crisis generated by the current pandemic. According to a recent ISTAT report, from February 2020 (the starting date of the health emergency) to December 2020, and despite the blocking of layoffs imposed by the Italian government, employment has dropped by as much as 426 thousand places. The categories that have suffered the most are the categories of women self-employed or with fixed-term employment relationships, in the age between 25 and 49.
But why are women still paying such a high price? One of the main reasons is that Italian laws, regulations, and policies often fail to recognise and integrate the effective economic value of gender contribution, ultimately determining a considerable loss for Italy and its economy. According to certain studies, if female employment rate in Italy were equal to that of men, Italy’s country’s GDP would be approximately 88 billion higher that the current value. By the same token, it has been shown that a higher presence of women in businesses could have a significant positive impact on their profit. For instance, it has been estimated that the presence of women in senior roles may increase companies’ turnover by approximately 5%.
Can Italy renounce to a non-generated slice of GDP? What is the country doing to promote women’s and youth’s employment and entrepreneurship?
As we know, recently, a new draft of the Recovery Plan (“Plan” or “PNNR”) was presented. The ultimate purpose of the Plan is to promote Italy’s economic recovery by injecting investment in six areas considered essential to this extent, including women’s and youth’s employment and entrepreneurship. More specifically, the Plan envisages, among others:
(i) 22.4 billion Euro to be allocated for “inclusion and cohesion” (of which 19.8 billion from the Recovery and Resilience Device and 2.6 billion from the Fund);
(ii) the requirement for companies to employ women and young people in order to have access to the funding;
(iii) the creation of a “Fondo Impresa Donna” to promote women’s entrepreneurship; and
(iv) measures aimed at expanding the offer of kindergartens, strengthening nursery schools and improve the assistance to the elderly and disabled.
But are these measures sufficient and adequate enough to recoup the effective economic value of women’s (and youth’s) employment?
These and other issues will be discussed at PWA’s upcoming conference on May 25, 6.30 p.m., Italian time.

Our Speakers

Linda Laura Sabbadini
Chair, W20
Central Director, ISTAT

As ISTAT’s Central Director, she has been responsible for numerous ISTAT research projects in the fields of social and gender analysis and survey methodology.
She also led the process of renewing social and gender official statistics, giving visibility to invisible people in statistics, such as women children, elderly people, homeless, measuring phenomena such as violence against women, discrimination for sexual orientation, poverty, corruption, mobbing at work.

She is the author of more than 100 scientific publications, and columnist at La Stampa and La Repubblica newspapers.

At the national level, she directed the process of building fair and sustainable well-being indicators. She also is composed of many UN, Eurostat, and OECD high-level groups. With her expertise, she participated in the National Equality Commission, and in 2020, she was appointed by the Italian Prime Minister Giuseppe Conte in the Committee of Economic and Social experts engaged in the post-pandemic recovery.

In 2015, she was included among the “100 Italian Excellence”. And in 2006, she has been nominated Commander of the Order of Merit of the Italian Republic for the verge innovative role in official statistics.

At the international level, she was a member of the Steering Group on Social Statistics of the UN UNECE and was a member of strategic task forces of the directors of Eurostat Social Statistics.

She participated numerous times in the UN Commission of the Status of Women as a member of the government delegation. Since 2007, she is a member of the UN Interagency and Expert Group on Gender Statistics.

In 2017, she participated in the G7 of women and she edited the statistical part of G7 2017 in Taormina. Since 2020, she is the W20 Chair for the G20 Italian Presidency 2021.

Paola Corna Pellegrini
CEO, Allianz Partners
President, AICEO

Paola Corna Pellegrini has been CEO of Allianz Partners since 2011.

After a degree in Mathematics at the University of Padua and a Master in Business Administration at the Business School of the C.U.O.A., her career began 38 years ago, starting from the experience in Marketing moving from international multinational companies like Henkel and Novartis Consumer Health to family firms as Zambon Pharma, holding for more than 15 years top positions of General Manager and CEO, with responsibility at both local and international level. A career that allowed her to work in various industries, from consumer goods to services, from pharmaceuticals to insurance.

Always committed to the empowerment of women, since 2018 she has been President of the Winning Women Institute Scientific Committee, a non-profit association active in the gender equality sector that launched the first Gender Equality Certification in Italy. Moreover, she is Vice President of the Forum della Meritocrazia, and she is the creator of the Valeria Solesin Award, a university competition, promoted by the Forum della Meritocrazia and Allianz Partners, aimed at young graduates who carry out studies and research on female talent as a determining factor for the development of the economy, ethics, and meritocracy in our country, and she recounts the genesis and the ideas in her book, “FORZA RAGAZZE AL LAVORO! The voices of the young people for a fair, inclusive and meritocratic world”.

Since last 22 September 2020, she is the President of AICEO, the Italian Association of CEOs.

She is married and has two children, Francesca 32 years old, and Matteo di 27 years.

Marilisa Guida
Head – Adult Financial Education
Banca D’Italia

She is the head of the Bank of Italy financial education Division that deals with adult educational projects and with initiatives for linking schools and the world of work since June 2020.

In this role, she is responsible for designing and coordinating many projects aimed at developing targeted adults programs (i.e. women; migrants); incorporating financial education into Italian adult school curricula, and managing the new financial education Bank of Italy website Economy for all. She has represented the Bank of Italy on a number of public occasions at the national and international levels.

She is alternate of Magda Bianco – head of the Bank of Italy Consumer Protection and Financial Education General Directorate – as a member of the national financial education Committee.

Law University Degree, LL.M in Civil Law and Member of the Bar Association. In the Bank of Italy, She has experienced a really integrated curriculum working in the banking and finance department as on-site and off-site banking supervisor, for the Human Resources Department, and, since 2008, in the field of Financial Education.

Antonio Ragusa
Dean and Founder
Rome Business School

Antonio Ragusa is an Italian entrepreneur, professor, and author, founder of the Rome Business School. Graduated cum laude in law and qualified as a lawyer, he has a Master of Business Administration from London’s Imperial College Business School, further specializing in marketing and communications at the London School of Economics.

He has been teaching managerial disciplines at many Universities and Research Centres, such as the Roma Tre University, Luiss Guido Carli, and Salamanca University. Before starting his entrepreneurial career he gained considerable experience as a manager in large companies such as Enel and Trenitalia.

He is the author of numerous publications on subjects relating to organizational communication, marketing, and human resources management. Among them: Antonio Ragusa is the winner of international awards for his educational and entrepreneurial activities. Among the various recognitions, he has been appointed Academician by AEREC (European Academy for Economic and Cultural Relations) and has received the New York Award 2018 and the Emilio Castelar Award 2019 for his commitment to education on an international level.

Roberto Argeri
Cleary Gottlieb Steen & Hamilton LLP

Roberto Argeri is counsel at Cleary Gottlieb Steen & Hamilton LLP, with a leading role in the national and international dispute resolution practice of the Italian offices since 2005.

He regularly represents domestic and foreign clients in a wide range of disputes involving corporate, commercial, banking, and financial matters, as well as bankruptcy and competition issues across numerous industries.

He was named a “rising star” in Italy by The Legal 500, the world’s leading directory that assesses the strengths of law firms and professionals in over 150 jurisdictions.  He is also the youngest lawyer ranked among the 10 “Elite” legal professionals in Italy for 2021 by Class, a renowned directory edited by Milano Finanza.

Roberto holds an LLM degree from Columbia Law School, where he was a Harlan Fiske Stone Scholar in 2010, and conducted legal research at the Department of Public Law of Pisa University in 2006, on a scholarship awarded by the Fondazione Uberto Bonino e Maria Sofia Pulejo.

He is admitted to practice before the Italian Supreme Court and is a member of the ICC Institute of World Business Law, AIJA International Association of Young Lawyers, as well as AIA-ARBIT-40. He was a panelist in several seminars and has made contributions on several topics related to the protection of investments in Italy and, more recently, on the judicial reforms envisaged by the Recovery Plan.

Participation is open to all registered members and guests.

All participants are requested to RSVP by the 25th of May on our website form and will receive all the details necessary to connect to the e-conference right after registration. The Conference starts at 18.30.
Be sure to register and write your questions in advance to actively participate in this event.
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