Over the last 20 years, economic growth has helped to lift almost a billion people out of extreme poverty. But 1 billion people are still extremely poor. 1.1 billion live without electricity and 2.5 billion people without access to sanitation. For them, growth has not been inclusive enough.
In addition, growth has come at the expense of the environment. While environmental degradation affects everyone, the poor are more vulnerable to violent weather, floods, and a changing climate. Development experts, policymakers, and institutions like the World Bank have learned a major lesson: If we want to succeed in ending poverty, growth needs to be inclusive and sustainable.
As the negotiations on universal Sustainable Development Goals and a new global climate agreement enter the finishing straight, an old apprehension continues to linger: the perception that the world has to choose between creating jobs and prosperity for all and protecting the climate and environment.
Extensive research and – perhaps more importantly – mounting evidence from policies in countries and practices in enterprises around the world show that this is not the choice policy makers, business leaders and voters face. Enterprises and labour markets are not the problem. Quite to the contrary: the world of work is a source of solutions and is an indispensable driver to bring about the profound transformation of production and consumption patterns that are needed to make enterprises and our economies sustainable.
