COVID, climate and conflict conspire to push up povertyPosted on October 15, 2020 (October 15, 2020) by Years202120202019201820172016FuturArc Webinar Series SurveyFAQFuturArc App Demo VideoCategoriesMain FeatureCity ProfileShowcaseCommentaryCommentary, Online Exclusive Feature / 2020COVID, climate and conflict conspire to push up povertyby Sonia Elks, Thomson Reuters Foundation “A triple threat of coronavirus, climate change and conflict means an ambitious goal to end extreme poverty by 2030 looks increasingly unlikely,” said the World Bank in its Poverty and Shared Prosperity report.7 October 2020 — Extreme poverty will rise for the first time this century as COVID-19 hammers the global economy, as stated by the World Bank, predicting that the pandemic could spawn 115 million ‘new poor’ this year alone.Coronavirus is also changing the profile of the extreme poor, with analysis finding the new poor were more likely to be urban, better educated, and less likely to work in agriculture.“This is the worst setback we have witnessed in a generation,” Carolina Sanchez-Paramo, global director of the World Bank, said in a conference call. “Action … needs to be swift, significant and sustained if we are to effectively respond to the urgent crisis we face at the moment, but also remain focused on some critical long-term development challenges.”The world had made steady advances in recent decades on reducing extreme poverty — defined by the World Bank as living on $1.90 a day or less — but progress was already slowing before the pandemic struck. With recessions hitting poor and vulnerable groups the hardest, 2020 will see three years of gains against extreme poverty wiped out at a stroke, the World Bank said.Eight out of ten of the extra people pushed into poverty in 2020 will be from middle-income nations, researchers predicted. South Asia was set to be the hardest-hit region with up to 57 million more pushed into extreme poverty this year as a result of the pandemic, the report said, followed by sub-Saharan Africa with up to 40 million extra people affected.The impacts of the pandemic will “almost certainly” be felt in most countries through 2030, said the World Bank. It also highlighted emerging risk “hot spots” — many in sub-Saharan Africa — facing multiple threats to livelihoods from coronavirus, climate impacts, and conflict. These combined threats will put a goal to end extreme poverty worldwide by 2030 “beyond reach” without swift and substantial policy measures, it warned.“It may take years for extreme poverty levels to sink back to pre-pandemic levels,” said Nilima Gulrajani, a senior research fellow from the Overseas Development Institute. “It’s clear that those people who are most vulnerable to the crisis tend to be those who have been marginalised. Now is a real opportunity to try to galvanise public attention towards a recovery that does justice to those who are at the margins of society.”READ MORE: Cities and a Circular Economy After the VirusSource: https://news.trust.org/item/20201007151735-adw70/To read the complete article, get your hardcopy at our online shop/newsstands/major bookstores; subscribe to FuturArc or download the FuturArc App to read the issues.Previously Published Commentary, Online Exclusive Feature Commentary, Online Exclusive Feature / 2021Land use and climate change as drivers of pandemic risk and biodiversity lossCommentary, Online Exclusive Feature2021Land use and climate change as drivers of pandemic risk and biodiversity loss Commentary, Online Exclusive Feature / 2021Seizing the urban opportunity: Invest in low-carbon cities to protect climate and boost jobsCommentary, Online Exclusive Feature2021Seizing the urban opportunity: Invest in low-carbon cities to protect climate and boost jobs Commentary, Online Exclusive Feature / 2021Switching coal plants to biomass cofiring is no magic bulletCommentary, Online Exclusive Feature2021Switching coal plants to biomass cofiring is no magic bullet Commentary, Online Exclusive Feature / 2021Nature left alone offers more than if we exploit itCommentary, Online Exclusive Feature2021Nature left alone offers more than if we exploit it Commentary, Online Exclusive Feature / 2021Fewer desks, more coffee: Possible changes in offices after COVID-19Commentary, Online Exclusive Feature2021Fewer desks, more coffee: Possible changes in offices after COVID-19 Commentary, Online Exclusive Feature / 2021Renewables should be focus of Vietnam’s Draft PDP8, not coal and gasCommentary, Online Exclusive Feature2021Renewables should be focus of Vietnam’s Draft PDP8, not coal and gas Commentary, Online Exclusive Feature / 2021Climate change has not stopped for COVID-19Commentary, Online Exclusive Feature2021Climate change has not stopped for COVID-19 Commentary, Online Exclusive Feature / 2021Davos Agenda 2021: Greta Thunberg’s message to world leadersCommentary, Online Exclusive Feature2021Davos Agenda 2021: Greta Thunberg’s message to world leaders Contact us at https://www.futurarc.com/contact-us for older commentaries.