Gender Lens Investing 2026 is a Review of Sustainable and Equality-focused Investing. The report offers an outlook on sustainable investing, examines the landscape for publicly traded gender lens and diversity, equity, and inclusion (DEI) equity funds and indexes, and highlights developments in corporate gender equality. The review includes:
A special report on the emerging standards for gender equality bonds.
We present the 19th edition of our review of sustainable and gender lens investing, marking six+ years of our coverage universes in gender lens equities and equality-focused fixed income instruments, and extending our leadership in summarizing the latest data and developments on women in the global economy and workplace. Amid the ongoing political pushback against equality, women and other underrepresented populations remain partially or fully excluded from economic and financial participation in every global region. Progress on the closure of economic and financial gender gaps has slowed over the last several years, with some metrics reversing course.
Despite this environment, growth continues in opportunities for investors across the capital markets spectrum to direct resources towards women borrowers, gender equality-focused projects and workplaces, and the incorporation of social equality into environmental and climate-related investing.
Among GLI market segments, gender lens fixed income has turned in steady growth over the past decade. The asset class is dominated by publicly traded and privately held gender equality-focused bonds. With recognized expertise in this sustainable bond market segment, we maintain a leading global dataset of these bonds. In this report, we outline the emergence of common definitions of gender equality bonds through a literature review of research on this sustainable bond market segment. We assert that the common definitional elements published by researchers of the asset class meet the threshold of global standards and should be recognized as such. We then issue calls to action for gender equality bond market participants on the next steps to support long-term growth in this segment, which is positioned to expand multi-level financial and economic inclusion for women in all global regions.
- The report begins with a 2026 outlook on sustainable investing, including updated sustainable bond market data and forecasts. Sustainable investors have a growing focus on adaptation and resilience, including the social impacts of climate crises, nature-based climate solutions, and clear demonstrations of progress toward stated climate goals and the value of sustainable investing.
- We also provide an update on women in the global economy and workplace. According to McKinsey and LeanIn.org, structural barriers to women’s workplace advancement have become steeper over the past several years, particularly in 2025. In the U.S., women were driven out of the workforce in 2025, with women comprising all of the 81k in labor force losses during the last month of the year. In looking at major global stock indexes, women’s board representation has stalled, and CEO representation remains stuck at single-digit levels. Unadjusted gender pay gaps widened for women in the U.S. and for women on the boards of European financial firms.
- In addition, the report includes an update on equality-focused equity funds and indexes. AUM in publicly traded gender lens equity funds (GLEFs) totaled $4.9 billion as of December 31, 2025. AUM growth was 9.1% for the twelve-month period, driven by increased AUM in a selection of funds, particularly several domiciled in Europe.
- Diversity, equity, and inclusion (DEI) equity funds totaled US$2.7 billion in AUM as of December 31, 2025. These funds focus on investing in companies with robust DEI policies or social justice track records. AUM growth was 29.6% for the twelve-month period.
- For our core types, AUM in outstanding gender equality bonds was $60.6 billion as of December 31, 2025, reflecting new issuances and maturities throughout the year. These types are: primary use-of-proceeds gender bonds, two areas of component use-of-proceeds gender bonds, and performance-based gender bonds. (See Section 3)
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