Public Health
World Economic Situation and Prospects 2023
The world continues to confront multiple inter-connected crises. Amid a slow recovery from the impact of the COVID-19 pandemic the world is facing a food and energy crisis exacerbated by the war in Ukraine with record high inflation unleashing a cost-of-living crisis. Developing countries are in trouble over the costs of imports and debt servicing and a climate crisis continues to wreak havoc in the most vulnerable countries and populations. Amid monetary tightening subdued consumption and private investments judicious government spending will remain critical for steering economic recovery worldwide. The World Economic Situation and Prospects 2023 will underscore the imperative of supportive and accommodative fiscal measures to lift growth and accelerate SDG progress.
Acknowledgements
The World Economic Situation and Prospects 2023 is a report produced by the United Nations Department of Economic and Social Affairs (UN DESA) in partnership with the United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions: Economic Commission for Africa (UNECA) Economic Commission for Europe (UNECE) Economic Commission for Latin America and the Caribbean (UNECLAC) Economic and Social Commission for Asia and the Pacific (UNESCAP) and Economic and Social Commission for Western Asia (UNESCWA). The United Nations World Tourism Organization (UNWTO) also contributed to the report. The forecasts presented in the report draw on the World Economic Forecasting Model of UN DESA as well as inputs from the United Nations regional commissions.
Foreword
This 2023 edition of the United Nations flagship report World Economic Situation and Prospects comes at a pivotal moment for the global economy. The growth of the world’s population to 8 billion people is a testament to improved nutrition public health and sanitation. But as our human family grows larger it is more unequal and divided than ever.
Foreword
Every year the negative impacts of climate change become more intense. Every year they bring more misery and pain to hundreds of millions of people across the globe. Every year they become more a problem of the here and now as well as a warning of tougher consequences to come. We are in a climate emergency.
Nationally determined contributions and long-term pledges: The global landscape and G20 member progress
This chapter provides an updated assessment of progress on nationally determined contributions (NDCs) and long-term pledges
Transformations needed to achieve the Paris Agreement in electricity supply, industry, buildings and transportation
In light of the magnitude of the emissions gap wide-ranging large-scale rapid and systemic transformation is now necessary to achieve the temperature goal of the Paris Agreement. To inform action the emissions gap can be translated into sectoral transformations that bend the emissions trajectory by 2030 and lead to zero emissions in the longer term. The challenge is that multiple major transformations must be initiated in this decade simultaneously across all systems. Transformations of the way we power our homes and businesses; transport people goods and services; grow and consume food; build our cities; and manage our lands are among the required shifts which need to take place while simultaneously improving the livelihoods of the poorest including women and minorities and achieving the Sustainable Development Goals. Shifts are needed from phasing out fossil fuels to electrifying transport to stopping deforestation to retrofitting buildings (Intergovernmental Panel on Climate Change [IPCC] 2021).
Transforming food systems
Food systems are major contributors to climate change and other environmental problems such as land-use change and biodiversity loss depletion of freshwater resources and pollution of aquatic and terrestrial ecosystems through nitrogen and phosphorus run-off from fertilizer and manure application (Cordell and White 2014; Crippa et al. 2021; Diaz and Rosenberg 2008; Foley et al. 2005; Newbold et al. 2015; Robertson and Vitousek 2009; Shiklomanov and Rodda 2004; Intergovernmental Panel on Climate Change [IPCC] 2019; Wada et al. 2010; Willett et al. 2019).
Emissions Gap Report 2022
Every year the negative impacts of climate change become more intense. Every year they bring more misery and pain to hundreds of millions of people across the globe. Every year they become more a problem of the here and now as well as a warning of tougher consequences to come. We are in a climate emergency. And still as UNEP’s Emissions Gap Report 2022 shows nations procrastinate. Since COP26 in Glasgow in 2021 new and updated nationally determined contributions (NDCs) have barely impacted the temperatures we can expect to see at the end of this century. This year’s report tells us that unconditional NDCs point to a 2.6°C increase in temperatures by 2100 far beyond the goals of the Paris Agreement. Existing policies point to a 2.8°C increase highlighting a gap between national commitments and the efforts to enact those commitments. In the best case scenario full implementation of conditional NDCs plus additional net zero commitments point to a 1.8°C rise. However this scenario is currently not credible. To get on track to limiting global warming to 1.5°C we would need to cut 45 per cent off current greenhouse gas emissions by 2030. For 2°C we would need to cut 30 per cent. A stepwise approach is no longer an option. We need system-wide transformation. This report tells us how to go about such a transformation. It looks in-depth at the changes needed in electricity supply industry transport buildings and food systems. It looks at how to reform financial systems so that these urgent transformations can be adequately financed.
Acknowledgements
The United Nations Environment Programme (UNEP) would like to thank the members of the steering committee the lead and contributing authors the reviewers and the Secretariat for their contribution to the preparation of this assessment report. Authors and reviewers have contributed to the report in their individual capacities. Their affiliations are only mentioned for identification purposes.
Glossary
This glossary is compiled according to the lead authors of the report drawing on glossaries and other resources available on the websites of the following organizations networks and projects: the Intergovernmental Panel on Climate Change United Nations Environment Programme United Nations Framework Convention on Climate Change and World Resources Institute.