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The world needs fertiliser to be moving in weeks not months, damage has begun to be priced in to the agriculture market for the next year as harvests suffer and food prices rise
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Global conference brings governments, investors, international organisations, technology leaders and civil society together to agree new ways of working on shared global challenges, including directly combating the impact of the ongoing Iran conflict
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New investment unlocked at scale to strengthen economies and build resilience, including billions mobilised by British International Investment to tackle the climate crisis
Today at the Global Partnerships Conference, in London, Britain’s Foreign Secretary is bringing together countries from all over the world to build new partnerships and setting out the UK’s new approach to development as the crisis in the Middle East continues to wreaks havoc on global energy and food security. The World Food Programme estimates that almost 45 million more people could fall into acute food insecurity if the conflict does not end by the middle of this year.
This is a critical time in the agriculture calendar, not just the diplomatic one – if global partners don’t get fertiliser moving there will be shipments of critical emergency aid needed not just external investment and technology.
People around the world will benefit from a new era of cooperation on international development, after a broad coalition of partners pledge new ways of working to build resilience and tackle global challenges as the UK co-hosts the Global Partnerships Conference.
The world is changing faster than the system designed to support it. The current conflict in Iran has significantly driven up global oil and gas prices, shocks like these can stretch public finances and push more households into food insecurity, underlining the need for countries to build stronger systems, partnerships for growth, and response mechanisms to stop risks becoming crises.
Foreign Secretary, Yvette Cooper MP, said
The world is sleepwalking into a global food crisis. We cannot risk tens of millions of people going hungry because one country has hijacked an international shipping lane. Iran’s continued closure of the Strait of Hormuz while the agriculture clock is ticking shows why we need urgent global pressure to get the Strait reopened, fertiliser and fuel moving and ease the costs of living pressures. That is why we will continue to lead calls for the immediate and unrestricted opening of the Strait and advance plans for the Strait of Hormuz Multinational Mission to support any agreement.
This crisis is affecting developed and developing countries, the private and public sectors alike. It shows why we need a new approach to global partnerships, to drive international development to prevent crises in the first place.
The world has changed faster than the international system can support it. This conference reflects our modern approach to development working in a new spirit of partnership and building new coalitions to drive a world free from poverty on a liveable planet.
Our commitment to international development reflects our values and our national interest. In an increasingly interconnected world, instability abroad affects us here at home, from energy prices to food security. Building resilience abroad makes the UK stronger, that’s what this week’s conference is about.”
Global challenges, such as the Iran crisis, do not stop at borders and neither do their solutions.
That is why the UK, alongside co-hosts South Africa, British International Investment (BII) and the Children’s Investment Fund Foundation (CIFF), has convened a broad coalitions of partners, from governments, international organisations, business, technology philanthropy, and civil society to rethink how to combine strengths in addressing global challenges such as economic, climate and health shocks.
Across the week, this will include events that address the economic and human impacts of the Iran crisis directly, focused on global resilience and effects of energy and supply chain disruption, such as fertiliser supply and food security risks, and how to ramp up early action where pressures are greatest.
The Foreign Secretary will also use key moments across the conference, including a keynote speech on Tuesday, to set out the case for a more shock-resilient model of international cooperation.
At the centre of the Global Partnerships Conference is a shared agreement – the Global Partnerships Compact - to work together differently, faster, more openly, and in genuine partnership. It will aim to create a system of international cooperation that not only responds to shocks like the Iran crisis and its global impacts on energy, fertiliser and food prices, but also builds a system that’s resilient in the face of the crises of the future putting countries at the forefront of their own growth.
Minister for Development, Baroness Chapman said
We have heard what our partners have been calling for. They want to work in partnership with the UK. Countries want to have more control, move beyond aid, attract investment, strengthen their own health and education systems, and take charge of their own futures.
Traditional development finance alone cannot meet that call, indeed it never could. Nor can it respond to the scale of today’s challenges. We need to bring new ideas and a broader coalition of partners to the table,
The decisions that come out of this conference will benefit everyone stronger economies, fewer crises, and a more stable and prosperous future that unlocks opportunity.
The conference aims to unlock billions of pounds in innovative finance, harness technology including AI, and build new partnerships that help countries strengthen systems, manage risk earlier and become more self-sufficient in the face of future shocks.
Commitments will push forward reforms and new measures with a strong focus on countries setting their own priorities and partners shifting resources and decision-making towards locally-driven plans.