Insights | November 2024

As we approach the end of 2024, the pursuit of inclusive growth—the kind of progress that ensures no one is left behind—remains elusive.

世界银行 's latest State of Economic Inclusion 2024 report is a sobering reminder that while progress has been made, millions are still being excluded from the opportunities they need to thrive.

According to the report, economic inclusion programs currently reach only about 10% of the world's poorest populations, underscoring the need for expanded efforts.

Paradoxically, two of the biggest threats to future equitable economic progress—artificial intelligence and climate change—are also two of the most transformative forces of our time. AI has the potential to either exacerbate inequalities or drive unparalleled innovation for good. Climate change, on the other hand, threatens to undo decades of progress unless bold, coordinated action is taken.

This month’s edition also includes updates on these two themes, examining how public-private partnerships can help shape AI’s future responsibly and how COP29 set the stage for navigating climate finance complexities. Together, these insights offer a roadmap for how we can confront the challenges of our time and work toward a more inclusive and sustainable future.

1. State of Economic Inclusion 2024: Pathways to Scale | World Bank

• The World Bank’s latest report highlights the successes and limitations of economic inclusion programs.
• Over 100 million households have been reached globally, demonstrating the potential to lift millions out of poverty.
• Achieving scale requires integrating social protection, labor market interventions, and financial inclusion.

Bottom Line: Scaling economic inclusion programs is critical for reducing poverty and fostering equitable growth, but it demands significant political will, financing, and adaptive design.

2. Public-Private Partnerships in AI Development | World Economic Forum

• AI has become one of the defining forces of our time, but its rapid development risks deepening inequalities if not governed responsibly.
• Public-private partnerships (PPPs) are essential to address challenges such as bias, unequal access, and ethical dilemmas in AI systems.
• Collaboration between governments, companies, and civil society is key to ensuring AI serves public good, not just private interests.

Bottom Line: Without inclusive governance, AI could worsen inequality. Collaborative efforts are needed to harness its potential for innovation while protecting vulnerable populations.

3. COP29 Outcomes: Navigating Climate Finance and Global Action | World Resources Institute

• COP29 brought critical discussions on climate finance, culminating in the adoption of the New Collective Quantified Goal to mobilize $300 billion annually by 2035.
• Developing nations argue this amount is insufficient, with the "Baku to Belém Roadmap to $1.3tn" initiative aiming to address these financial gaps by COP30.
• Climate action remains intricately tied to economic inclusion, as the most vulnerable communities bear the brunt of climate impacts.

Bottom Line: Climate finance remains a contentious yet crucial component of global action, requiring bold ambition to support developing nations and ensure a just transition.