Ending Extreme Poverty
ENDING EXTREME POVERTY
At SupPlant, we strive to provide all small-scale farmers the opportunity to grow by easing and lowering the cost of data and knowledge. SupPlant provides farmers with more information about the needs of their plants, enabling them to save resources such as water and power usage from pumps. Meanwhile, yields increase and the improved quality of the crops increases potential income. SupPlant lowers the operating cost and increases potential income for farmers around the world. This has a positive impact on the social economics of farmers, providing them with more possibilities to raise themselves out of poverty while encouraging more food production where it’s needed most.
About Ending Extreme Poverty
The share of the world’s population living in extreme poverty declined from 15.7% in 2010 to 10.0% in 2015; however, the pace of global poverty reduction has been decelerating. Nowcast estimates put the global poverty rate in 2019 at 8.2%. Even before the COVID-19 pandemic, progress towards Goal 1 had slowed, and the world was not on track to ending extreme poverty by 2030. Now, as the world anticipates the worst economic fallout since the Great Depression, tens of millions of people will be pushed back into poverty, undoing years of steady improvement.
Even before COVID-19, baseline projections suggested that 6% of the global population would still be living in extreme poverty in 2030, missing the target of ending poverty. Assuming the pandemic remains at levels currently expected and that activity recovers later this year, the poverty rate is projected to reach 8.8% in 2020. This is the first rise in global poverty since 1998, and close to the 2017 level. An estimated 71 million additional people will be living in extreme poverty due to COVID-19. Southern Asia and sub-Saharan Africa are expected to see the largest increases in extreme poverty, with an additional 32 million and 26 million people, respectively, living below the international poverty line as a result of the pandemic.
For more information on this goal, visit the Sustainable Development Goal indicators website.