The Healthier Hearts Foundation recognizes the pressing need for global action to
address the persistent challenges of poverty and social inequality. With projections
indicating that millions will still be mired in extreme poverty by 2030, and vast swathes
of vulnerable populations remaining without adequate social protection, urgent
measures are imperative. Despite the strides made in expanding social safety nets
during the COVID-19 pandemic, a staggering 4 billion people remain entirely
unprotected. Moreover, essential services like education, healthcare, and social
protection are disproportionately underfunded in emerging and developing economies
compared to advanced nations. To fulfill the commitment of eradicating poverty and
ensuring inclusivity, concerted efforts are needed to bolster economic opportunities,
enhance educational access, and extend social protection to all, especially the
marginalized segments of society. Only through collective action and increased
investment can we strive towards a future where no one is left behind.
If current trends persist, approximately 575 million individuals will remain in extreme poverty by 2030. Only one-third of countries are projected to have their national poverty levels by this time.
Despite the expansion of social protection during the COVID-19 pandemic, over 4 billion people remain entirely unprotected. Many vulnerable groups, such as the youth and the elderly, lack coverage from statutory social protection programs.
Government spending on essential services, such as education, health, and social protection, varies significantly between advanced economies and emerging or developing economies.
A surge in action and investment is crucial to enhancing economic opportunities, improving education, and extending social protection to all, especially the most marginalized, to fulfill the central commitment of ending poverty and leaving no one behind.
Slow and uneven progress in poverty reduction may result in hundreds of millions of individuals living in extreme poverty by 2030. Despite a significant decline in extreme poverty in recent decades, the COVID-19 pandemic has reversed this positive trend. The pace of poverty reduction was already slowing before the pandemic, with a decline in extreme poverty from 10.8% in 2015 to 8.4% in 2019. However, the average annual reduction rate between 2015 and 2019 was less than half that observed between 2000 and 2014. In 2020, the number of individuals living in extreme poverty rose to 724 million, surpassing pre-pandemic projections by 90 million. Recovery from the pandemic has been slow and uneven, with approximately 41% of low-income countries experiencing higher poverty rates in 2021 compared to the previous year.
The conflict in Ukraine has disrupted global trade, leading to increased living costs that disproportionately affect the poor. Additionally, climate change poses substantial threats to poverty reduction. By the end of 2022, it is estimated that 670 million people could still be living in extreme poverty.
If current trends continue, an estimated 575 million people will still be living in extreme poverty by 2030, with the majority in sub-Saharan Africa. This projection would represent a modest reduction of less than 30% since 2015.
Only one-third of countries are expected to halve their national poverty rates by 2030 compared to 2015. The national poverty line, specific to each country's economic conditions, helps policymakers design targeted interventions and social safety nets. In 2020, 22 out of 39 countries with data saw increases in national poverty rates relative to the previous year. Despite efforts to adopt national multidimensional poverty indicators to capture various aspects of poverty, progress in reducing national multidimensional poverty has been limited. To address this challenge, governments and stakeholders must target underlying factors and develop strategies to alleviate deprivations across multiple dimensions.
Social protection programs remain insufficient, with coverage and expenditures remaining low. In 2020, only 47% of the global population was effectively covered by at least one social protection cash benefit, with disparities among different age groups and income levels. Despite some short-term measures implemented in response to the COVID-19 pandemic, more sustained and universal social protection systems are needed to achieve the Sustainable Development Goals.
Government spending on essential services has increased globally, with higher proportions allocated to education, health, and social protection in advanced economies compared to emerging and developing economies.
Disasters are affecting more people globally but causing fewer deaths, indicating progress in disaster risk reduction efforts. However, vulnerable countries, such as least developed countries and small island developing states, continue to face higher vulnerability to disasters.
Overall, concerted efforts and investments are needed to address poverty, enhance social protection, and mitigate the impacts of disasters to achieve sustainable development and leave no one behind.
