Reduced Inequalities (10)

In September 2015, 193 world leaders agreed to 17 Global Goals for Sustainable Development. If these Goals are completed, it would mean an end to extreme poverty, inequality and climate change by 2030.
Goal 10: Reduce inequality within and among countries.

• In Africa and in the LDCs, eradicating poverty by 2030 will require both double-digit GDP growth and dramatic declines in inequality, illustrating the scale of the current challenges faced.
• The economic catch-up of Asia with the West will continue in the coming decades - thereby reducing global inequality among countries and among world citizens.
• Although GenX and Early Millennial retirees are expected to be better off than current retirees on absolute measures of income, they are expected to be worse off than current retirees on relative measures of inequality, poverty, and replacement rates.
• Interventions related to the road traffic environment for control and prevention of injuries will reduce RTIs, and may also reduce social inequalities.
• The adoption of digital technologies, coupled with better management practices, could add £100 billion to the UK economy and cut income inequality by 5 per cent.
• The most dangerous risks in the next decade are economic threats in the form of financial crises, high unemployment and an increase in income inequality.
• Rising inequality could be a factor behind sluggish growth in the U.S. economy in the wake of the financial crisis.
• Donor reforms in policies and practices could give real priority to measures that directly support poverty eradication, reduce inequality, and build resilience to climate change.
• If the Gini index in each country decreases by 1 percent per year, the global poverty rate could reduce to around 5.4 percent in 2030, equivalent to 100 million fewer people living in extreme poverty.
• The environmental crisis has sharply accelerated and economic development is not happening for too many people while inequality has reached dramatic levels, putting basic human rights at threat.
• The United Nations Independent Expert on debt and human rights recognised that Ukraine has progressed in its fight against illicit financial flows but warned that economic reforms without clear safeguards for human rights can further entrench inequality and poverty.
• Increasing income inequality could be turning some cities into centers of consumption for highly educated workers.
• Strategy 2030 will steer ADB's approach for addressing challenges in Asia and the Pacific such as rising urbanization and demographic shifts, and tackling the unfinished development agendas of eradicating poverty, reducing inequality, and closing infrastructure gaps.
• Millions of workers throughout the industrialized and developing worlds could be affected by automation, rising inequality, stagnating educational attainment, and other labor market trends in the coming decades.
• The 21st century poses new and multiple challenges to public services, including an increased number of poor people, widening inequality, jobless economic growth, multi-dimensional security threats, persistent food insecurity and the irreversible impact of climate change.
• Policy makers from around the world acknowledged that inequality in their countries is generally high and potentially a threat to long-term social and economic development.
• Income inequality among older people is high in Portugal, even though safety-net provisions reduce the risk of old-age poverty, which is below the OECD average.
• The Institute for Fiscal Studies reports that income inequality is projected to rise between 2015 - and 2021-22 as working-age benefits are reduced and real earnings growth boosts the income of higher income households.
• Eradicating poverty by 2030 will require both double-digit growth in Africa and steep reductions in income inequality.
• Achieving the target of eradicating poverty by 2030 will require dramatic shifts in countries where poverty rates remain high, both in terms of sharp accelerations in economic growth and steep reductions in income inequality.
• Policies to reduce air pollution in London will have a significant impact on inequality.
• If countries adopt a European inequality pathway, global inequality will decrease by 2050, which could have enormous impacts on global poverty eradication.
• After formal exit from the Union, it is vital that the UK and EU maintain a high level of cooperation in these areas to ensure all countries continue to be able to effectively address health inequalities, tackle chronic diseases and protect against serious health threats.

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Last updated: 16 September 2019