2020 was supposed to be a once-in-a-generation opportunity for women and girls. The year when governments, businesses, organisations, and individuals came together to develop a five-year plan to accelerate progress for #GenerationEquality. Then COVID-19 struck. Now, unless the world acts fast, 2020 risks being a year of irreversible setbacks and lost progress for girls. This report looks at 25 years of progress with and for girls and the threats that the looming COVID-19 crisis now poses to those hard-won gains.