Global poverty reduction is a story of success. The proportion of the world’s population living in extreme poverty decreased from 15.7% in 2010 to 10% in 2015. However, the pace of reduction has been decelerating from 1 percentage point annually between 1990 and 2015 to less than half a percentage point annually between 2015 and 2017. Even before the outbreak of COVID-19, baseline projections suggested that 6% of the global population would still live in extreme poverty in 2030, missing the target of ending poverty. Despite immense progress in poverty reduction over the last decades, poverty continues to be the greatest challenge facing humanity. Ending poverty in all its forms and dimensions requires innovative and integrated approaches to tackle its root causes, as well as bold, transformative action to remedy economic, social, and political disempowerment and exclusion. The underlying challenges of poverty have grown in complexity over time, calling for creative thinking and innovative tools towards systemic solutions. The COVID-19 pandemic has revealed the entrenched vulnerabilities suffered by population groups, notably the elderly, women, children, the youth, but also persons with disabilities, informal workers, slum dwellers, migrants, and refugees.
This side event will focus on what are the integrated and innovative policy interventions that have worked and what have not to deliver durable solutions.