The Centre for Social and Economic Progress hosted a Seminar on Poverty to Empowerment: Raising the Bar for Sustainable and Inclusive Growth on Friday, August 25, 2023, 04:15 pm – 05:30 pm IST. Attendees joined in-person at the CSEP Auditorium (6 Jose P Rizal Marg, 2nd Floor, Chanakyapuri, New Delhi – 110021).

About the event:

Economic growth, inclusion, and the net zero transition have largely been viewed in silos. In a new study, From poverty to empowerment: Raising the bar for sustainable and inclusive growth, MGI examines them as part of a connected system as the world simultaneously attempts to raise living standards and get on a net-zero pathway. The research, launched against the backdrop of the G20 dialogue with the Business 20 (B20) Summit, assesses how much progress market forces can deliver—and the choices facing leaders about how much further to go.

This is a decisive decade for both people and the planet since 2030 is the target date for the Sustainable Development Goals (SDGs) and also approximately when the world’s carbon budget is projected to run out. MGI’s research sizes what it would take in economic terms to address both of these imperatives.

With large populations exiting extreme poverty, development economists have argued for a complementary bar to measure the next stage of progress, with higher minimum living standards. MGI’s research puts forth a concept called “economic empowerment.” The empowerment line identifies the spending power needed for everyone to meet their basic needs for housing, energy, food, healthcare, education, and more, plus a small margin for savings to reduce the risk of falling back into poverty.

Presenters:
Sven Smit - Senior Partner, McKinsey & Company
Anu Madgavkar - Partner, McKinsey Global Institute (MGI)

Panelists:
Laveesh Bhandari - President and Senior Fellow, CSEP
Renu Kohli - Senior Fellow, CSEP
Montek Singh Ahluwalia - Distinguished Fellow, CSEP

Moderator:
Rakesh Mohan - President Emeritus and Distinguished Fellow, CSEP

All content reflects the individual views of the speakers. The Centre for Social and Economic Progress (CSEP) does not hold an institutional view on any subject.