Driving sustainable development in the era of polycrisis

We are living in an era of a polycrisis; the lingering effects of the Covid-19 pandemic, the climate emergency, and the Russian invasion of Ukraine continue to send shockwaves through Asia and the Pacific, disrupting global supply chains, depleting public finances, and driving up energy and food prices. Our region's poorest and most vulnerable populations are the most affected, with their economic, educational, employment, and health outcomes being threatened. Traditional approaches to development are no longer enough.

If we examine pressure points within the region's food, finance and energy systems, we see opportunities that leverage their interconnections to build back resilience in these systems, so they can better support the people they serve.

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Human development in Bangladesh: What do the statistics tell us?

The ESCAP-ADB-UNDP 2023 Sustainable Development Goals (SDGs) Partnership report sheds light on how countries in Asia and the Pacific have experienced the fragility of this "connected ecosystem" firsthand. High energy prices, for example, have pushed up key input prices in agriculture, affecting a significant proportion of the regional workforce, adversely disrupting the region's food production and supply chains and putting at risk the livelihoods of millions of people.

It is clear that the region's economic sectors are not only highly susceptible to shocks but are also interdependent. When one sector is threatened, the entire system and countless livelihoods hang in the balance. Isolated, single-sector solutions are therefore inadequate. We need to embrace the concept of "nexus thinking."

Nexus thinking recognises the complex, systemic nature of global and local development issues and the need to integrate data and knowledge, plans and policies, and institutions and practice to achieve the SDGs. They are highly interrelated and, thus, we need to address challenges at multiple levels, focusing on identifying synergies and breaking silos.

Our report identifies several countries in the region that have already taken successful strides towards implementing nexus thinking through solutions and good practice.

Developing more robust, coordinated, and integrated solutions demands nexus thinking. By recognising and studying the specific interconnections between energy, food, and finance systems, we can develop policies and practices that address crosscutting challenges in an integrated manner. In an era marked by polycrisis, this approach – though not as easy to deliver – yields more effective and comprehensive policy responses that address both immediate needs and long-term goals.

Our report identifies several countries in the region that have already taken successful strides towards implementing nexus thinking through solutions and good practice. Bangladesh, India, and the Philippines, for example, have embraced smart and low-carbon farming approaches, while Singapore has fostered a public-private partnership for the development of renewables. In Thailand and Pakistan, agritech companies are supporting small-scale farmers in accessing finance. These initiatives stand out not only for their ability to introduce crosscutting solutions, but also for their meaningful engagement of diverse stakeholders across sectors and constituencies.

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Counting planetary pressures for sustainable human development

Cross-sectoral public-private partnerships can serve as a valuable tool in nexus thinking as they allow for a broader perspective on the risk and opportunity landscape that goes well beyond one sector.

Regional and multilateral collaboration also play a pivotal role in nexus thinking. Stronger partnerships between countries are indispensable for safeguarding the resilience of our region's food, energy, and finance systems. Such collaborations remove barriers to cross-border trade, increase access to knowledge and technologies, and accelerate the just energy transition. Technical and financial support through multilateral platforms is also crucial for piloting and then replicating new policies and institutional arrangements, as well as scaling innovative solutions throughout the region.

We must recognise that emerging from a polycrisis requires these large-scale transformative approaches, if we are to get the SDGs back on track in Asia and the Pacific.

Armida Alisjahbana is under-secretary-general of the UN and executive secretary of the UN Economic and Social Commission for Asia and the Pacific (ESCAP).

Woochong Um is managing director-general of the Asian Development Bank (ADB).

Kanni Wignaraja is United Nations assistant secretary-general and director of the Regional Bureau for Asia and the Pacific of the UNDP.