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Will These Be the Policy Priorities for Global Leaders in 2024?

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Will These Be the Policy Priorities for Global Leaders in 2024?

Peter Munene shares a post on an article by Sam Sharp that explores trends to shape 2024. 

“2024 will be an enormous year for elections and political news worldwide. Policymaking will play a part, but there is a risk it could be overshadowed by personalities and party dramas. This would be a shame, as there are good reasons to believe that the major challenges the world is facing can be addressed if the thinking and will to act are there. Here are ten policy areas I would love to see prioritised in 2024.   

  1. Countries Finally Address Investment in Health

In the wake of Covid-19, there is growing awareness that it is vital for countries to prepare for future pandemics. This not only requires better coordination between nations but also the right preventative measures, in particular a more robust adult-vaccination infrastructure. As memories of the global pandemic ebb it is tempting to move on, but a return to the status quo ante would be a terrible mistake. Addressing public health is one of the most impactful things policymakers can do for people. The economic benefit is also becoming increasingly clear, meaning the business case should soon be seen as overwhelming.

  1. Net-Zero Targets Get Real

There are already signs of a net-zero backlash. Voters who feel the pinch as climate targets become real will find more outlets next year to protest against what they see as arbitrary timelines and unfair distribution of costs. Policymakers with few easy options will be tempted to redefine targets, let them slip or abandon them altogether. But postponing action won’t solve the problem; instead, the path to full net-zero implementation should be defined. Realism on genuinely achievable plans will be increasingly important; countries that can take the big decisions necessary to actually get there will be much better positioned than those with only a deadline, however eye-catching.  

  1. International Finance Finds Climate Projects

At the same time as setting out national plans, policymakers can support international efforts to channel willing finance to ready projects. Capital is available and many potential projects exist, but lack of confidence, incomplete information or the absence of necessary policy backing hamper efforts to connect them. Better information and support can help more projects in emerging markets come on stream and make a significant contribution to the global effort to reach net zero. This process should also be self-perpetuating: as investors find new partners, they will gain the connections and experience to enable more projects.”  

 

Key points include:

  • Financing climate projects 
  • Food security
  • Supply chains

 

Access the article on LinkedIn.