Recent analyses [1] show that the COVID-19 pandemic has severe consequences for food and nutrition security, particularly for the poorest and most vulnerable people. On the one hand, various factors have resulted in income and job losses. This is particularly severe with informal agricultural workers, especially women, youth, indigenous people, and migrant workers.[2][3] In April ILO stated that “almost 1.6 billion informal economy workers are significantly impacted by lockdown measures and/or working in the hardest-hit sectors”, with incomes expected to decline more than 80% in some areas.[4]

Moreover, according to the latest FAO estimates, the expected global economic recession could increase the number of undernourished people in net food-importing countries by at least 14.4 million or, in a worst-case scenario by 80.3 million.[5][6] On the other hand, food supply chain disruptions at local and regional levels are expected as a result of health issues, restrictions on movement of agricultural workers and decreased access to agricultural inputs. Export restrictions and other trade-related measures are putting additional pressure on food availability. Overall, this combination of impaired economic and physical access to food will have further implications for dietary diversity and, hence, people’s nutritional and health status, making them even more vulnerable to COVID-19.

Prior to the COVID-19 pandemic the agriculture sector was already suffering from serious underinvestment, with investments declining over the past two decades.[7] The unpredictability of COVID-19 may negatively affect and deter decisions on public and private investment.

Investments in agriculture and food systems are needed not only to mitigate and recover from the pandemic’s short- and long-term impacts on food and nutrition security and rebuild our economies. Investments are also needed to build agriculture and food systems that will be more resilient to future pandemics and other types of crises.

The public sector will have a key role to play in mobilizing and catalyzing these investments. Against the expected backdrop of decreasing foreign direct investment (FDI) flows and market shocks affecting the capacity of small-scale producers and micro, small and medium enterprises (MSMEs) to invest, it is essential to increase, or at least maintain, current levels of public investment in agriculture and food systems. However, not any type of investment will do, we need more “responsible” investments. These investments should strategically support recovery from the effects of the COVID-19 pandemic by ensuring multiplier effects and by using public funds as catalysts to mobilize additional private investments, including from small-scale producers and MSMEs, particularly young agri-entrepreneurs. Governments may consider various options ranging from innovative finance to tangible and intangible incentives.

To ensure these needed investments are responsible and strengthen (local and national) food and nutrition security as well as sustainable and inclusive economic development particularly in rural areas, the CFS RAI is the global instrument to guide such investments.[8] By applying the CFS RAI in any kind of investment in agriculture and food systems, we can ensure that the poorest and most vulnerable including women and youth are not disempowered, that formal and informal workers in supply chains are protected, that food loss and waste is reduced and that we build inclusive agri-food chains and resilient, local, national and regional food systems that endure the ongoing as well as future crises.

Now more than ever, we not only need more investments but better investments to ensure social, environmental and economic sustainability in line with the 2030 Agenda. Investments in line with the CFS RAI will support recovery from the effects of the current COVID-19 pandemic and help mitigate the effects of future crises.

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