Food Crisis and Related Risk Factors

A caricature of the situation in climate finance, particularly regarding Africa, is a classic vicious circle: Climate finance is not flowing because of the lack of bankable investment plans; the lack of investment plans is due to a lack of faith that climate finance will flow.

The current El Niño phenomenon is expected to result in rainfall deficits and below-average harvests throughout Southern Africa in 2024, according to a recent alert from FEWS Net. Poor households throughout the region will likely face reduction in livelihoods and income and difficulty purchasing adequate food.

Nearly US$ 4 trillion: That is the amount of global crop and livestock production the FAO estimates has been lost over the past three decades due to disaster events. According to the new report, “The impact of disasters on agriculture and food security,” this equates to an average loss of US$123 billion per year and as much as 5 percent of annual global agricultural GDP.

While some countries in Africa South of the Sahara have seen improvements in food security in 2023, the region as a whole continues to be plagued by food crises, according to the Global Report on Food Crises (GRFC) 2023 Midyear Update. East Africa has been the hardest hit, with nearly 65 million people in the region having experienced high levels of acute food insecurity in the first half of 2023, up 8 million from 2022.

The Horn of Africa continues to face severe food insecurity, reduced livelihoods, and hunger-related deaths as a result of several years of drought and failed harvests, according to FEWS Net. The hardest hit regions include Somalia, Sudan, the arid and semi-arid regions of Kenya, and southern and southeastern Ethiopia. The situation has been further exacerbated in Sudan and Ethiopia by ongoing conflict.