Welcome once again to our exploration of the United Nations Sustainable Development Goals (SDGs). As part of our ongoing journey through these 17 transformative objectives and in honor of the International Day for the Eradication of Poverty, we delve into SDG 1: No Poverty. 

Hey, Changemakers! As we continue our exploration of the UN Sustainable Development Goals (SDGs), we're faced with a staggering truth: in a world of abundance for many,  an alarming number of people still grapple with the crippling reality of poverty. It's time we rally together and amplify our efforts.

Understanding Sustainable Development Goal 1: No Poverty

SDG 1 proclaims the need to “End poverty in all its forms everywhere.” It goes beyond alleviating financial hardship and tackles all aspects of poverty -- inadequate access to healthcare, education, and basic necessities. To grasp the scale of this challenge, let’s sift through some critical data:

• 719 million people — 9.2% of the world’s population — are living on less than $2.15 a day.
• Children and youth account for two-thirds of the world’s poor, and women represent a majority in most regions.
• In the United States, 11.6% of the population — 37.9 million people — lived in poverty as of 2021.

These figures shed light on the vast economic disparities millions grapple with daily, emphasizing the significance of SDG 1 – and the importance of us taking steps to ensure economic stability for ourselves and advocating for the eradication of poverty in our communities.

The Global Impacts of Poverty

Poverty isn't isolated; its impacts are far-reaching, affecting communities, economies, and global dynamics. Societies grappling with widespread poverty often face barriers in development, reduced productivity, and an increased risk of other societal challenges, from health crises to civil unrest.

From an ethical standpoint, the sheer disparity between affluence in some sectors and poverty in others is deeply disconcerting. This imbalance, often a product of systemic issues, can seed global conflicts, shaping trade, diplomacy, and more.

Navigating Shifting Tides: The COVID-19 and Ukraine Crisis Impact on Global Poverty

Between 2015 and 2018, we witnessed heartening progress, with the global extreme poverty rate declining from 10.1% to 8.6%. But in the span of a few years, we've seen the tides shift dramatically. 

COVID-19 brought that positive momentum to a crashing halt. The global poverty rate increased sharply, wiping away more than four years of gains and pushing an additional 93 million people into extreme poverty. The war in Ukraine and rising inflation are likely to exacerbate this situation, potentially increasing the total number of people in extreme poverty by an additional 75 to 95 million compared to pre-pandemic projections.

Moreover, in 2020, we saw the first increase in the share of the world's workers living in extreme poverty in two decades, a direct result of lost working hours and reduced incomes during the pandemic. 

Shaky Safety Nets and the Urgent Need for Protection

In response to the COVID crisis and other humanitarian crises, many countries have introduced new social protection measures. Unfortunately, a lot of these programs were short-term and failed to reach large numbers of vulnerable people. By 2020, only 46.9% of the global population were effectively covered by at least one social protection cash benefit, leaving over 4 billion people unprotected, and 75% of the 150 million people unemployed around the world lack any unemployment insurance protection. Without these safety nets, workers and their families can struggle to meet their basic needs.

Championing Change: Your Role in Alleviating Poverty

Given the daunting scale of global poverty, you might be feeling overwhelmed about where to start. But you can make a difference – never forget that monumental change often stems from the collective might of individual actions.

• Promote Fair Trade: Opt for products that support fair wages for producers in developing countries.
• Educate & Advocate: Knowledge is power. By understanding poverty's root causes, we can advocate for policies and practices that make a difference.
• Back Microfinance Institutions: These institutions provide vital financial services to low-income individuals, aiding in entrepreneurship and self-sufficiency.
• Volunteer Locally: Actively engage with local organizations or shelters that support underserved communities.

Maximize Your Impact with the Karma HopeGiver Card

The Karma HopeGiver Card isn't just a payment option; it's an instrument of change. This unique card empowers you to earn cashback on transactions, which are allocated to charities focused on alleviating poverty, hunger, and homelessness. With the HopeGiver Card, every swipe or tap is an opportunity to contribute to creating a poverty-free world. Here are some verified nonprofits you can support through Karma that are working toward a world without poverty:

• CARE International
• Oxfam
• UNICEF

Staying the Course: Towards a Poverty-free World

The goal of ending poverty everywhere has taken a hit, and the journey ahead is tougher than we ever imagined. As we strive for a world where everyone enjoys financial security, remember the pivotal role each person plays. Together, guided by the SDGs, we can make strides on this journey towards a world free from poverty. Let's join hands and turn our everyday spending into a powerful tool for change. After all, every (trans)action is an opportunity to make a difference.

Don't miss out on our ongoing SDG series, where we dive into these world-changing goals, offering insights on how you can play a part. Remember, true change emerges from understanding and consistent, small efforts

Not part of the Karma fam yet? Sign up for your Karma HopeGiver Card today to start making a difference with every purchase. 

Interested in learning more about the SDGs? Check out the UN Sustainable Development website.

Karma Card is issued by Patriot Bank, N.A., Member FDIC, pursuant to a license from Mastercard International Incorporated.  The card may be used everywhere Debit Mastercard is accepted.