The UN Global Crisis Response Group (GCRG) published the “Global Impact of war in Ukraine on food, energy and finance systems – Brief No. 2” in June 2022.
The report analyses the causes and implications of the world's current crisis, highlighting that the increased food and energy prices are turning this into the biggest cost-of-living crisis of the 21st century. The report recommends two approaches in an Executive Summary, followed by the main report consisting of four key highlights on the ripple effects of the war, with a final section on policy recommendations. The report specifically recommends two broad approaches to be taken simultaneously: a) Bring stability to global markets, reduce volatility and tackle the uncertainty of commodity prices and the rising cost of debt; b) Increase people and countries’ capacity to cope.
WBCSD has been participating and contributing to the work of the UN GCRG Food Taskforce and Energy Taskforce since their inception in March 2022. This business brief highlights the key findings of the new UN GCRG report and helps identify 6 key actions the business community can take now considering the crisis diagnosed by the report.