The World Economic Forum's Annual Meeting has concluded. The 53rd Annual Meeting in Davos from January 16 to 20 was held on the theme, ‘Cooperation in a Fragmented World’. The Annual Meeting provided leaders from across the world a platform to engage in constructive, forward-looking dialogues and help find solutions.
Ukraine War, energy and food crises, climate crisis, globalisation, inflation, global economy, supply chain crisis, and cybersecurity were among the topics that dominated the five days of debate.
An overview of the key talks and papers presented in Davos in 2023
Global Risks Report
Ahead of the WEF's Annual Meeting, the Global Risks Report 2023 highlighted Serious risks we might encounter during the next 10 years. While the report said cost of living will be the main global danger in the next two years, the next ten years will be dominated by climate action failure.
Crystal Awards ceremony
The Crystal Awards marked the opening of the WEF 2023. Four cultural leaders who have worked in areas of environmental preservation, food security, combating climate change, mental health awareness, and education are this year's prize recipients. Architect Maya Lin, singer Renée Fleming, actor, filmmaker, and activist Idris Elba, as well as actress, model, and humanitarian Sabrina Elba, were all honoured for their leadership at the Forum.
Chief Economists Outlook
Chief Economists Outlook edition, produced amid ongoing economic uncertainty and challenges, examined the main developments in the economic environment, including the prospects for growth, inflation, and monetary and fiscal policy. A global recession is anticipated by two-thirds of those polled, with 18% of respondents saying it is quite likely.
The Open Forum
In order to restore the planet's health and safeguard the welfare of the present and future generations, "Open Forum: In Harmony with Nature" emphasised the importance of changing organisational practices and highlighted existing lifestyles.
Ukraine First Lady Olena Zelenska emphasising the human cost of the war in her country, said, “Everyone has a right to life.” Ursula von der Leyen, President, European Union Commission, praising the Ukrainian people for their resilience, said, "You have resisted the Russian invasion and pushed back against the aggressor, against all odds."
Health challenges
An expert panel that included Dr Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization, discussed how tuberculosis could be eradicated.
Philanthropy: A catalyst for protecting our planet
Amplify Earth Action (GAEA), a new programme that was started, stressed they will employ charitable resources to assist raise the funds required annually to combat climate change and the destruction of nature. Clean technology, according to Ursula von der Leyen, President of the European Commission, "is now the fastest-growing investment sector in Europe". In order to make Europe the centre of innovation and clean technology, she presented the Green Deal Industrial Plan.
The Global Collaboration Village
The WEF unveiled its Global Collaboration Village, a new metaverse platform designed to promote multi-stakeholder collaboration. This purpose-driven metaverse brings people together to learn, explore solutions, and take action on the most serious problems facing the globe, has attracted 80 organisations as Village Partners.
Reskilling
As part of a reskilling revolution, the Forum claimed it is collaborating with numerous partners to offer 1 billion people skills and job prospects by 2030. The Forum determined that in the coming ten years, technology will likely have a profound impact on 1.1 billion jobs.
UN Secretary-General on ‘the perfect storm’
António Guterres, Secretary-General of the United Nations, outlined ‘the perfect storm’ - Recession, inequality, supply chain disruptions, rising interest rates, inflation - facing the world today.
"There are no perfect solutions in a perfect storm." He called for cooperation and collaboration to address the crises we face. "We need cooperation on challenges such as the climate crisis," he stressed.
"To stop our self-defeating war on nature, we must close the emissions gap, phase out coal, and supercharge the renewable revolution," said Guterres.
German Federal Chancellor Olaf Scholz highlighting the advantages of switching to renewable energy, said, "The future belongs solely to renewables."
Ukraine President Zelenskyy for swift action
Ukraine President Volodymyr Zelenskyy emphasised the necessity for swift action as well as for unified, efficient, and coordinated steps to restore global security.
He voiced concern that tyranny is advancing faster than democracy and urged immediate action by all nations to stop this.
Cybersecurity, Tech
Reports on cybersecurity, digital inclusion, and the metaverse were released. Microsoft CEO Satya Nadella talked about the role technology can play in the energy transition.
Source: https://www.weforum.org/
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
