The global economic development that has occurred over the past 50 years has substantially improved human well being, but it has also created unprecedented social, economic and environmental problems. Furthermore, interdependencies among nations and economies have created new risks and vulnerabilities, as demonstrated by the recent food and financial crises.

Today's world is undergoing a major transformation characterized by increased globalization, fundamental shifts in economic and political power, growing global environmental problems, and potentially explosive social conflicts. The past decade alone has reversed a 100-year decline in resource prices as demand for commodities has surged. The volatility of resource prices today is at an all-time high; the era of cheap food is over. Indeed, the price and volatility of different resources have developed increasingly tight links over the past ten years. Shortages and price changes in one resource can rapidly impact other resources. In this context the correlation between food prices and energy prices is now higher than at any point in the past century because of biofuels, fertilizer and transport costs.

The world has also experienced several, sometimes unexpected shocks. These include the rise in energy prices in 2008 and 2010, and concerns about energy security; related food and commodity price rises; worries about water and food security and how to feed 9 billion people by 2050; declining ecosystem services and the global economic recession.