Reduce inequality within and among countries
Too much of the world’s wealth is held by a very small group of people. This often leads to financial and social discrimination. In order for nations to flourish, equality and prosperity must be available to everyone – regardless of gender, race, religious beliefs or economic status. When every individual is self sufficient, the entire world prospers.
- Evidence from developing countries shows that children in the poorest 20 per cent of the populations are still up to three times more likely to die before their fifth birthday than children in the richest quintiles.
- Social protection has been significantly extended globally, yet persons with disabilities are up to five times more likely than average to incur catastrophic health expenditures.
- Despite overall declines in maternal mortality in most developing countries, women in rural areas are still up to three times more likely to die while giving birth than women living in urban centers.
- Up to 30 per cent of income inequality is due to inequality within households, including between women and men. Women are also more likely than men to live below 50 per cent of the median income
- Of the one billion population of persons with disabilities, 80per cent live in developing countries.
- One in ten children is a child with a disability.
- Only 28 per cent of persons with significant disabilities have access to disability benefits globally, and only 1per cent in low-income countries.
Targets
By 2030, progressively achieve and sustain income growth of the bottom 40 per cent of the population at a rate higher than the national average.
By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status.
Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard.
Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equality.
Improve the regulation and monitoring of global financial markets and institutions and strengthen the implementation of such regulations.
Ensure enhanced representation and voice for developing countries in decision-making in global international economic and financial institutions in order to deliver more effective, credible, accountable and legitimate institutions.
Facilitate orderly, safe, regular and responsible migration and mobility of people, including through the implementation of planned and well-managed migration policies.
Implement the principle of special and differential treatment for developing countries, in particular least developed countries, in accordance with World Trade Organization agreements.
Encourage official development assistance and financial flows, including foreign direct investment, to States where the need is greatest, in particular least developed countries, African countries, small island developing States and landlocked developing countries, in accordance with their national plans and programmes.
By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent.
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Reducing inequalities and ensuring no one is left behind are integral to achieving the Sustainable Development Goals.
Inequality within and among countries is a persistent cause for concern. Despite some positive signs toward reducing inequality in some dimensions, such as reducing relative income inequality in some countries and preferential trade status benefiting lower-income countries, inequality still persists.
COVID-19 has deepened existing inequalities, hitting the poorest and most vulnerable communities the hardest. It has put a spotlight on economic inequalities and fragile social safety nets that leave vulnerable communities to bear the brunt of the crisis. At the same time, social, political and economic inequalities have amplified the impacts of the pandemic.
On the economic front, the COVID-19 pandemic has significantly increased global unemployment and dramatically slashed workers’ incomes.
COVID-19 also puts at risk the limited progress that has been made on gender equality and women’s rights over the past decades. Across every sphere, from health to the economy, security to social protection, the impacts of COVID-19 are exacerbated for women and girls simply by virtue of their sex.
Inequalities are also deepening for vulnerable populations in countries with weaker health systems and those facing existing humanitarian crises. Refugees and migrants, as well as indigenous peoples, older persons, people with disabilities and children are particularly at risk of being left behind. And hate speech targeting vulnerable groups is rising. (Sources: https://www.un.org | https://www.globalgoals.org | https://www.participate.com)
