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Photo: David Ryder/Getty Images

The Gates Foundation said Wednesday it will spend $2.1 billion on gender-equality work over the next five years, the Wall Street Journal reports.

Why it matters: It's one of the largest commitments the foundation has made to a cause in over 20 years of work, at about roughly $420 million a year. The funding is aimed at helping women get training and financial services, and elevating women into leadership roles in health, law and economics, per WSJ.

The big picture: The announcement comes weeks after Bill and Melinda French Gates announced their divorce, and as the foundation navigates potential leadership changes.

  • The pair reportedly discussed adding a board to the foundation and hiring outside directors, per WSJ.

What they're saying: “Prioritizing gender equality is not only the right thing to do, it is essential to fighting poverty and preventable disease,” Gates said in a statement to the WSJ.

  • “The world has been fighting for gender equality for decades, but progress has been slow,” French Gates said.

Go deeper

Poll: Latinas more likely to open their own businesses, despite pandemic setbacks

Janie Isidoro, owner of My Corazon, a Chicano business in downtown Hanford, Calif. Photo: Al Seib/Los Angeles Times via Getty Images

Latinas in the U.S. are more likely to own, or plan to open, their own businesses than non-Hispanic women, despite the pandemic’s disproportionate burden, a recent poll found.

Why it matters: The survey, conducted by Telemundo, the Latino Victory Foundation and Hispanics Organized for Political Equality, suggests Latinas can be a driver of growth for the U.S. even though they have faced greater COVID-19-related setbacks.

Trump blasts “wacky” GOP Sen. Cassidy after “Axios on HBO” interview

Former President Trump on Monday blasted Sen. Bill Cassidy (R-La.) after he told "Axios on HBO" that he is not sure Trump could win the 2024 Republican presidential nomination.

Driving the news: When told that Trump could be expected to win the nomination, Cassidy jumped in saying: "I don't know that."

Ben Geman, author of Generate
3 hours ago - Politics & Policy

Biden's carbon emissions-cutting pledge faces tough climb

Image from the Rhodium Group study "Pathways to Paris." Courtesy of the Rhodium Group.

The verdict is in: President Biden's U.S. emissions-cutting pledge isn't a fantasy, but the path to meeting it is very difficult and relies on forces outside of White House control.

Driving the news: The Rhodium Group just released an analysis of policy combinations that could close the gap between the current U.S. trajectory and Biden's vow under the Paris Agreement to cut emissions in half by 2030.