Food production in 2050 will be sufficient, globally, but many of the poor will remain food insecure. The primary cause of food insecurity will continue to be poverty, rather than inadequate food production. Thus, policies and investments that increase the incomes of the poor will remain the best ways to extend food security to all. Investments that promote growth in sustainable agriculture and provide non-farm employment opportunities in rural areas of lower income countries will be most helpful. There will be sufficient water, globally, to achieve food production goals and sustain rural and urban livelihoods, if we allocate and manage the resource wisely. Yet, water shortages will constrain agricultural production and limit incomes and livelihood opportunities in many areas. Policies and investments are needed to extend and ensure access to water for household use and agricultural production. Challenges requiring the attention of policy makers and investors include increasing urbanization and increasing demands for land and water resources. Policy makers must ensure that farmers retain access to the water they need for producing food and sustaining livelihoods, and they must create greater opportunities for women in agriculture. They must also motivate investments in new technologies that will enhance crop and livestock production, particularly for smallholders, and encourage the private sector to invest in activities that create employment opportunities in rural areas.