The global crisis is affecting millions of people around the world. It is the result of a combination of factors, including climate change, rising food and energy prices, and supply chain disruptions. It is an urgent, multidimensional issue that requires action at all levels.
The first element is the economic crisis, triggered by the financial collapse that started in America in 2008 and quickly spread to international markets. Many countries became exposed to the crisis because they had taken advantage of low interest rates and pursued a spending policy that led to excessive debt accumulation. This was especially true in Europe, where countries like Greece took advantage of low Euro-based interest rates and engaged in a fiscal policy that quickly led to severe debt problems.
Another factor is the environmental crisis, caused by rising temperatures that affect all regions of the world, with a high probability of overshooting targets established in the Paris agreement of 2015. These overshoots will lead to severe droughts, water shortages, loss of agricultural production, and a rise in the incidence of diseases such as malaria.
Finally, the humanitarian crisis is condemning millions to a life of poverty and vulnerability due to wars, failing economies and extreme weather events. Those affected are disproportionately women and children. In fact, the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) reports that by 2025 a record number of 168 million people will be in need of humanitarian assistance.
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