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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.

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Executive summary

In the wake of the COVID-19 pandemic, global rates of poverty and inequalities have increased. Recent shocks and crises have derailed 30 years of progress in eradicating poverty, and the world’s poorest people and regions are disproportionately bearing the brunt and cost of climate catastrophes, losing livelihoods and savings. Climate change impacts will further entrench poverty and inequalities and drive an estimated additional 132 million people into poverty by 2030. Ending global poverty and reducing inequalities are interlinked. Now is the time to address these issues, before these goals become harder and more costly to reach in the face of impacts of climate-induced extreme weather, shifting agriculture patterns, rising sea levels, and potential mass migration between and within countries.

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