States of Fragility 2020 sets a policy agenda for fragility at a critical turning point: the final countdown on Agenda 2030 is at hand, and the pandemic has reversed hard-fought gains. This report examines fragility as a story in two parts: the global state of fragility that existed before COVID-19, and the dramatic impact the pandemic is having on that landscape. It acknowledges the severe reality of fragility in its multidimensionality and complexity. It explores thinking and practice on fragility to propose new ideas on human capital analysis and conflict prevention in order to adapt policy for more resilient outcomes. With a thematic emphasis on peace in fragile contexts, it highlights the important role of peacebuilders, diplomats, and security actors for peace, and builds the case for enhanced complementarity and coherence across the Humanitarian-Development-Peace nexus. It concludes by reconciling theory with practice to explore what it means to work effectively in fragile contexts. Focusing on fragility will be imperative to build peaceful, just and inclusive societies that leave no one behind.