Global Social Protection Hits 52.4%, But 3.8 Billion Still Uncovered, Urgent Action Needed
September 13, 2024For the first time, data reveals that over half of the global population, specifically 52.4%, is covered by some form of social protection, a significant increase from 42.8% in 2015.
Despite this progress, 3.8 billion people, including 1.8 billion children, still lack any form of social safety net, highlighting persistent gaps in coverage.
The disparities in social protection coverage are stark, with high-income countries achieving 85.9% coverage compared to just 9.7% in low-income countries.
Low-income countries face critically low coverage rates, with only 9.7% of their populations protected, a figure that has seen little improvement since 2015.
To ensure a basic level of social security, low- and middle-income countries require an additional $1.4 trillion annually, which represents about 3.3% of their GDP.
Specifically, low-income countries need an additional $308.5 billion per year to achieve basic social protection, necessitating substantial international support.
The report identifies a significant financing gap, noting that the annual financing gap in the 20 most vulnerable countries is $200.1 billion, which is 69.1% of their GDP.
The ILO warns that at the current pace, universal social protection coverage will not be achieved for another 49 years, projecting a target year of 2073.
The ILO calls for urgent policy actions to close social protection gaps, emphasizing the need for increased investment and external support.
Mia Seppo, ILO Assistant Director-General, stated that the disparity in access to social protection reflects a deeply divided world and calls for urgent action to protect those on the frontlines of climate change.
The ITUC advocates for the expansion of social protection systems with adequate financing as a critical priority in global discussions, including with the UN and international financial institutions.
Major inequalities in social protection access exist, particularly between genders, employment types, and across income levels, necessitating targeted reforms.
Summary based on 11 sources
Get a daily email with more World News stories
Sources
Economic Times • Sep 12, 2024
ILO says 52.4% of the world population covered by one or more social protection benefits as against 42.8%International Labour Organization • Sep 12, 2024
Social protection plays a key role in countering climate change impact but countries most impacted by the climate crisis are the least preparedInternational Labour Organization • Sep 12, 2024
World Social Protection Report 2024-26: Universal social protection for climate action and a just transitionInternational Labour Organization • Sep 9, 2024
New ILO report highlights key role of social protection in climate change mitigation and adaptation and ensuring a just transition