Corporate executives take note: In coming decades, the majority of global population growth will occur in countries where gender disparities are greatest and where conservative traditions and customs work against women’s rights. Entrenched gender discrimination remains a defining fact of life for most of the world’s bottom 2 billion, and that is not only a critical human rights issue but also a pressing economic issue. It causes staggering losses in productivity, economic activity and human capital.

Conversely, the empowerment of women–as customers, employees, entrepreneurs and participants in local, regional and global supply chains–is akin to stumbling on an enormous emerging market. Indeed a recent Booz Allen study suggests that women represent the “third billion,” potentially equivalent to the billion-plus-population markets of India and China. Yet that potential will only be realised if women are better educated, are healthier and more secure and are more enabled by their communities to participate in the global economy.

Multinational companies searching for growth in the developing world should realise that breaking down barriers and creating opportunities for women makes strong business sense. Just as corporations have found that “going green” can add real profits to their bottom lines, companies that recognise women’s empowerment as critical for increasing labor-force productivity, improving the quality of global supply chains and expanding their customer base and distribution networks will enjoy a competitive advantage. With the right brands and promises of investment and employment, the private sector can be a powerful partner to governments and non-governmental organisations in a transformative push for improvements for women.

Some companies are already deploying their assets to improve the lives of women in emerging markets. Tupperware is one, the iconic American company that invented the party-based sales model–by women, for women–back in the 1950s. Today Tupperware is replicating that model overseas. Nearly 50% of its revenues come from emerging markets such as Egypt, India and Indonesia. In India alone, its all-female sales force numbers more than 50,000. As bread-winners, managers and trainers of other women, Tupperware ladies enjoy greater self-confidence and stature and become leaders in their communities.

Standard Chartered Bank, which generates 90% of its income from operations in Africa, the Middle East and Asia, is another company that understands the positive effect of women’s empowerment on profitability. To differentiate itself, it focuses on women in markets where they have traditionally been underserved. In India and Pakistan, the bank operates all-female branches; in Africa, it runs the “Diva Club,” a savings program that encourages women to save in groups and facilitates networking among them. Standard sees these programs as valuable in building customer loyalty and creating a first-mover advantage. Along the way, the initiatives also bring underserved women into the financial mainstream, helping them become savers for their families, expanding their decision-making and building their businesses through improved financial literacy and access to credit.

Read more of Isobel Coleman’s discussion on Forbes here