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Global Violence Costs $20 Trillion Amid Peace Fund Cuts

Lawrence Ankutseby Lawrence Ankutse
August 22, 2024
Reading Time: 4 mins read
Global Violence Costs $20 Trillion Amid Peace Fund Cuts

Global violence took a staggering toll last year, costing the world nearly $20 trillion. Yet, as the human and economic costs of conflict soar, investment in peace and conflict prevention has been steadily declining. 

This alarming trend was highlighted by Elizabeth Spehar, Assistant Secretary-General for Peacebuilding Support, during a recent high-level debate at the United Nations Security Council.

The meeting focused on the UN Secretary-General’s New Agenda for Peace, a policy initiative launched in July 2023. Spehar’s remarks underscored the urgent need to reverse the tide of violence through strategic investments in peacebuilding and conflict prevention.

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The Power of Prevention

Spehar emphasized that “Prevention and peacebuilding can break the cycle of violence and lay the foundations to ensure sustainable development is possible for all.” 

Her message was clear: the world must shift its focus from reacting to conflicts to preventing them. This approach, she argued, not only saves lives but also reduces the immense economic burden of war.

The backdrop to the meeting was a concerning rise in global conflict. Against this, Spehar outlined three critical areas where investment can make a significant difference: supporting national peacebuilding efforts, ensuring coherence in peace initiatives, and strengthening partnerships and resources.

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Supporting National Peace Efforts

Central to the New Agenda for Peace is the principle of national ownership. Spehar noted that effective peacebuilding and prevention must be led by the nations themselves, with the involvement of all societal segments. 

“It also emphasizes the need to include diverse voices, needs, and participation of all segments of society, which can help make peace more sustainable,” she said.

A tangible example of this principle in action is found in the Central African Republic. There, the UN Peacebuilding Fund has supported programs to empower women as community mediators, helping to prevent conflict and sustain peace at the local level.

Spehar also stressed the importance of a comprehensive approach to conflict prevention, one that addresses the root causes of violence, not just the symptoms. 

She pointed out that resilience in societies is achieved through investments in inclusive and sustainable development and governance.

“The best way to prevent societies from descending into crisis is to ensure that they are resilient through investment in inclusive and sustainable development and inclusive governance,” she asserted. 

Elizabeth Spehar
 Elizabeth Spehar

This comprehensive approach aligns with the goals of the 2030 Agenda for Sustainable Development, particularly in tackling inequality, marginalization, and exclusion — key drivers of conflict.

Strengthening Partnerships and Resources

The final pillar of Spehar’s address focused on the need for stronger partnerships and more resources dedicated to peacebuilding. 

She highlighted the growing importance of partnerships with regional and sub-regional actors, such as the African Union Peace and Security Council (AUPSC).

Spehar described ongoing collaborations between the UN Security Council and the AUPSC, as well as between the UN Peacebuilding Commission and the AUPSC, as “promising.” 

However, she emphasized that more could be done to ensure these partnerships translate into concrete, measurable outcomes.

A Concerning Shift in Priorities

One of the most troubling trends Spehar highlighted was the global increase in military spending, even as investments in peace and conflict prevention dwindle. 

“It is worrying to see investments in peace and conflict prevention steadily decreasing while military spending is increasing worldwide,” she told the Council. 

The disparity is stark: last year, OECD countries allocated just 10 percent of their Official Development Assistance (ODA) to peacebuilding — a 15-year record low.

Meanwhile, the cost of violence — estimated at nearly $20 trillion last year — continues to strain global resources, consuming 13.5 percent of the world’s GDP.

Learning from Sierra Leone

Amid these global challenges, Sierra Leone’s journey from a brutal civil war 22 years ago to a stable peace today offers a beacon of hope. 

Hawa Samai, Executive Secretary of Sierra Leone’s Independent Commission for Peace and National Cohesion (ICPNC), spoke to the Council about the importance of commitment, dialogue, and inclusive peacebuilding. 

“By engaging a wide range of local actors, the ICPNC ensures that peacebuilding efforts are grounded in the realities and needs of communities,” she said.

Sierra Leone’s story serves as a powerful reminder that, with the right investments and a commitment to inclusivity, peace is attainable even in the most challenging contexts.

READ ALSO: Shatta Wale Chides Stonebwoy Over ‘Money Throwing’ Comment

Tags: Conflict Preventionmilitary spendingpeacebuildingSierra LeoneUN
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