Poverty in the Land of Plenty and the Unfinished Sustainable Development Agenda in Developed Countries

Discussions about poverty and sustainable development often focus on Africa and other developing regions. These conversations are necessary because poverty, unemployment, inequality, food insecurity and inadequate access to housing, energy, education and healthcare remain urgent challenges across the continent. However, sustainable development is not an agenda for developing countries alone. Poverty and economic insecurity also persist in some of the wealthiest and most technologically advanced nations. This raises an important question: How can poverty exist in a land of plenty? I addressed this question at the Second International Conference on Finance and Sustainable Business, hosted by the Harold Pupkewitz Graduate School of Business at the Namibia University of Science and Technology in Windhoek from 9-10 September. The United Nations Sustainable Development Goals are universal.

Sustainable Development Goal 1 calls for an end to poverty in all its forms everywhere, while the 2030 Agenda commits countries to leaving no one behind. These commitments apply to Australia, the United States and Germany just as much as they apply to Namibia and other African countries. Australia is a prosperous country with substantial natural resources, advanced institutions and a strong economy. Nevertheless, the Australian Council of Social Service and the University of New South Wales estimate that approximately 3. 7 million Australians, 14. 2% of the population, lived below the poverty line after housing costs in 2022–23. This included about 757 000 children. Housing is central to this problem. Rising rents force low-income households to make difficult decisions between accommodation, food, electricity, transport, healthcare and other essential needs. Housing, therefore, is not simply…