Can We End Extreme Poverty?

Can We End Extreme Poverty?

The Center for Global Development (CGD) is a non-profit think tank based in Washington, D.C., United States. It was founded in 2001 and focuses on researching and promoting policies that aim to improve the lives of people in developing countries. The organisation is dedicated to addressing global challenges such as poverty, inequality, and sustainable development.

The key objectives of the Center for Global Development include:

  1. Research: CGD conducts rigorous research and analysis on a wide range of issues affecting the developing world. Their research covers topics such as foreign aid effectiveness, global health, education, economic development, trade, migration, and climate change.
  2. Policy Influence: The CGD aims to influence policymakers, governments, and international institutions to adopt evidence-based policies that can lead to positive social and economic changes in developing countries.
  3. Advocacy: The centre engages in advocacy efforts to raise awareness about critical global development issues and promote public understanding and support for effective development policies.
  4. Data and Metrics: CGD emphasises the importance of data-driven decision-making in development efforts. They develop and promote the use of metrics and indicators to measure progress and impact in various areas of global development.
  5. Collaboration: CGD collaborates with researchers, policymakers, and organisations from around the world to foster innovative solutions to development challenges.
  6. Capacity Building: The centre provides technical assistance and support to developing countries to strengthen their policymaking and governance capabilities.

A paper, entitled "Scenarios for Future Global Growth to 2050," has been released by the Centre for Global Development, presenting a promising outlook on the potential eradication of extreme poverty worldwide by 2050.

The comprehensive analysis projects a transformative shift in global poverty dynamics, suggesting that by 2050, we may witness a historic decrease in the number of individuals living in poverty. This momentous achievement would mark a profound milestone, as we envision a future where the plight of desperate poverty, which has burdened the majority of humanity throughout history, could finally be vanquished, albeit later than it could have been.

Charles Kenny, one of the distinguished authors of the paper, emphasised the crucial role of sustained economic growth in this positive trajectory. With continued progress, the paper envisions a future where the majority of the world's population, nearly two-thirds, could enjoy an income exceeding $10 per day. This represents a significant improvement from the current 42 per cent. Additionally, the paper suggests that the extreme poverty line, defined by the United Nations as living on less than $1.90 per day, may cease to exist by the target year of 2050.

As a philanthropist deeply committed to global development and the well-being of humanity, this profound analysis offers renewed optimism for the future. It underscores the importance of supporting initiatives and investments that fuel economic growth, strengthen social safety nets, and foster sustainable development in low-income countries. Such efforts are critical to realizing the ambitious vision of ending extreme poverty and elevating the standard of living for millions around the world.

In light of these projections, it is imperative that we continue to collaborate across sectors, align resources, and drive collective action to accelerate progress towards this noble goal. By leveraging our shared expertise, resources, and passion for positive change, we can play a pivotal role in shaping a world where poverty becomes a relic of the past, and prosperity becomes a universal reality. Together, we can usher in an era of global progress, equality, and opportunity for all by 2050.

The CGD's findings reveal that achieving the eradication of extreme poverty by 2050 would be accomplished two decades after the initial target set by the United Nations Sustainable Development Goals, which is to end extreme poverty everywhere by 2030. Due to the COVID-19 pandemic, any progress made in ridding extreme poverty was significantly reduced.

Based on the models employed by the authors of the paper, the percentage of the global population living in extreme poverty is projected to decline to below two per cent by the year 2050. Specifically, within the African region, this figure is expected to decrease from 29 per cent to seven per cent, signifying a significant positive transformation.

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While the paper acknowledges the possibility of unforeseeable global events that could potentially impact these projections, it highlights education as a pivotal factor likely to contribute to global convergence. The authors point out that as average years of schooling increase in economically disadvantaged nations, it is expected to promote equitable development worldwide.

Regarding climate change, the paper posits that, up to 2050, it is unlikely to be a major driver of global economic trends. However, it is essential to remain vigilant and address the potential implications of climate-related challenges, as they may have long-term consequences beyond the projected timeframe.

As a philanthropist dedicated to driving meaningful change and fostering sustainable development, these insights underscore the importance of sustained support for education and capacity-building initiatives in low-income regions.

By focusing on empowering communities through education and equipping them to adapt to future uncertainties, we can contribute to the realisation of these positive projections.

While climate change may not be an immediate driver of global economic trends, it remains imperative that we continue advocating for climate-conscious practices and environmental stewardship to safeguard the well-being of future generations.

Tej Kohli is a philanthropist, technologist and investor.

Find out more about Tej Kohli: Tej Kohli the technologist investing in human triumph

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