The current global crisis of poverty, inequality and hunger is of alarming proportions. The 2022 Poverty and Shared Prosperity Report underscored that the world was likely witnessing the greatest setback to poverty eradication since World War II. While extreme poverty significantly declined between 1990 and 2019, multiple crises, including the COVID-19 pandemic and others, reversed or significantly slowed down the progress made in poverty reduction and led to rising rates of hunger and malnutrition. Overall, currently close to 700 million people live in extreme poverty globally, just below the pre-pandemic levels. In addition, the World Bank estimates climate change will push an additional 132 million people into extreme poverty by 2030. Meanwhile, the proportion of the world population facing chronic food insecurity in 2022 was about 9.2 percent (734 million people), compared with 7.9 percent (612 million people) in 2019—an increase of 122 million people since the onset of the COVID-19 pandemic. While the repercussions of the crises are global, low and lower-middle income countries (LMICs) are more impacted and less equipped to mitigate the consequences. In the current setting, the prospects of achieving the SDG targets on poverty and hunger are unlikely, making concerted action at the international level all the more important. International financial resources needed to keep people from starving have, so far, been insufficient. Meanwhile, the cost of providing food assistance is at a record high due to rising food and fuel prices. WFP analysis suggests that for every one percent cut in food assistance, 400,000 people are pushed to emergency hunger. While poverty is most readily measured based on income or consumption, the lack of monetary income is both the cause, and the consequence, of many other socio-economic factors, which should be considered when assessing and designing policies and systems to address poverty. These include access to healthcare, education or food, as well as exposure to climate change, conflict and other shocks. Moreover, income poverty does not impact everyone in the same way, and it intersects with other disadvantages faced by women, children, people with disabilities, older people, ethnic minorities, indigenous peoples, migrants, forcibly displaced persons, LGBTQI+ persons and rural populations affecting their access to resources and services and, for those in working age, their income-generating capacities and opportunities.