The transformation of interconnected energy, food, and finance sectors is crucial to achieving the Sustainable Development Goals (SDGs), propelling Asia and the Pacific toward a more sustainable, inclusive, and resilient future.
Source: ESCAP
Polycrisis refers to the current overarching global economic and social crisis. The crisis has affected economies through a complex web of macroeconomic, trade, and financial channels, with net energy and food importers suffering particularly severe pressures. Actions must be taken immediately to improve government resilience in light of the substantial damage to the energy, food, and financial sectors.
Utilizing industry synergies in energy, food, and finance can help address the multifaceted consequences of the polycrisis and accomplish the SDGs in a greener, more equitable, and more resilient way. Thus, the proposed actions for governments and other stakeholders in the region to pursue in three cross-cutting areas in the short and medium term are: (1) strengthening regional and national partnerships across the energy-food-finance systems, (2) building data-driven, agile institutions, and (3) mobilizing and aligning finance towards the SDGs.
Strengthening regional and national partnerships across the energy-food-finance systems is essential to assist nations in becoming more resilient in the face of current and upcoming shocks. Cross-sector and cross-agency partnerships are helpful in national plans because they can provide coherent and cohesive policy solutions. Data-driven and flexible institutions can help Asia and the Pacific nations respond to crises more effectively. With agile governance and participatory scenario planning, these institutions can adapt to shifting conditions through more responsive policymaking. Mobilizing new sources of finances will require a knowledge base for developing practical strategies towards attaining the SDGs over the next seven years.
Reference:
United Nations, Asian Development Bank, and United Nations Development Programme (2023). Delivering on the Sustainable Development Goals through Solutions at the Energy, Food and Finance Nexus. Retrieved October 4, 2023 from
