Home Flashback Increasing Equality A Key Factor To Unlocking Prosperity In Asia-Pacific

Increasing Equality A Key Factor To Unlocking Prosperity In Asia-Pacific

402
0
SHARE
 

About 400 million people in Asia and the Pacific still confront poverty as part of their daily lives due to widening income inequality, despite the region’s  impressive gains in reducing income poverty in recent decades. This is according to a new report launched by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the Asian Development Bank (ADB), and the UN Development Programme (UNDP).

The report, titled Eradicating Poverty and Promoting Prosperity in a Changing Asia-Pacific, notes that on top of the 400 million people — or one in ten — in the region living in extreme poverty, more than one in four people in Asia and the Pacific’s developing countries experience poverty in multiple dimensions. This includes additional deprivations that impact their health, education, and standard of living.

“As outlined in the report, a renewed strengthening of the social contract is critical for addressing multi-dimensional poverty and the high marginalisation and exclusion of people,”  said United Nations Under-Secretary General and Executive Secretary of  ESCAP Dr. Shamshad Akhtar at the Asia-Pacific Forum on Sustainable Development.

“It also provides opportunities for innovative partnerships in which diverse stakeholders can find common ground to inclusive and sustainable growth to tackle entrenched problems and build synergistic solutions to the challenges of poverty in both rural and urban areas. This requires strong policy signals, clear commitments and allocation of resources to address the multiple dimensions of poverty,” she added.

The report underscores the importance of addressing poverty through pro-poor urbanisation, effective management of rural-urban transitions, and investment in sustainable infrastructure. Although people in extreme income poverty are more likely to live in rural areas, they are increasingly found in cities, therefore provision of high quality; low-carbon, and resilient infrastructure is essential.

“Asia’s  infrastructure needs are large and will only grow, with our recent report suggesting that the region will need $1.7 trillion annually in climate-resilient infrastructure investments,” said ADB Vice-President for Knowledge  Management and  Sustainable  Development Mr. Bambang Susantono. “How our region chooses to bridge the infrastructure gap will have profound global implications. Concerted efforts, as highlighted in the tripartite report, can help us cover the last mile for infrastructure towards inclusive and sustainable development.”

“As urbanisation booms across Asia and the Pacific, its cities are powering innovation, economic growth, and prosperity, lifting many out of poverty. But there has also been an increase in inequality and exclusion in some regions,” said Mr. Haoliang Xu, UN Assistant Secretary-General and UNDP Regional  Director for  Asia and the Pacific. “To be more inclusive and to leave no one behind, cities must adopt innovative policies that align with the  SDGs, and prioritize building the resilience of the most vulnerable groups.”

The report recommends effective action on eradicating poverty, while tackling the systemic, socio-cultural, and geographic factors that underpin marginalisation, exclusion, and lack of human rights protection. The number of people likely to be in vulnerable employment in the region is now greater than the global average, for example, and women are particularly affected. Measures to ensure that all people can benefit from growth in the region on an equal footing are needed.

Thank you for reading the story until the very end. We appreciate the time you have given us. In addition, your thoughts and inputs will genuinely make a difference to us. Please do drop in a line and help us do better.

Regards,
The CSR Journal Team