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Development Co-operation Report 2024

Tackling Poverty and Inequalities through the Green Transition

image of Development Co-operation Report 2024

Faced with multiple priorities, including the imperative of accelerating the global green transition, development co-operation providers are at risk of losing sight of a silent, yet devastating crisis that has been unfolding even before the COVID-19 pandemic: the alarming increase of poverty and inequalities in low and middle-income countries. And yet, not only are ending poverty and reducing inequalities at the core of their mandates, both are also essential to meeting their broader ambitions in terms of sustainable development worldwide. What opportunities – and risks – is the climate priority posing for the fight against poverty and inequality? Can just, green transitions reinvigorate development agendas? How can international development co-operation policy and finance help? Bringing together the latest evidence, data and insights from governments, academia, international organisations and civil society, the OECD Development Co-operation Report 2024 provides policy makers with concrete ways of delivering on their commitments to improve the lives of billions while fostering green, just transitions around the world.

English Also available in: French

The shifting and increased complexity of global poverty and inequalities

Ending global poverty and reducing inequalities are interlinked and urgently needed in the wake of the pandemic. Climate change and the rising costs of debt servicing in developing countries threaten to exacerbate poverty and hinder efforts to reduce inequalities. Drawing on a wide range of recent data and evidence, this chapter discusses the relevance of current poverty definitions. It reviews the complex relationship between changing levels of inequality, poverty and economic growth as well as the implications for development co-operation and national policy making. It underscores what it will take to end global poverty and reduce inequalities and the urgent necessity to do so. It concludes that the annual cost of ending poverty is not prohibitive but the price of failing to end poverty could be disastrous to billions of people.

English Also available in: French

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