The Davos Agenda ended on Friday with urgent calls for public-private cooperation to identify and scale solutions for health, the environment and social justice.
At the virtual conference hosted by the World Economic Forum (WEF), heads of state and government, chief executives and civil society leaders spoke in open dialogue about their challenges and priorities in the year ahead.
These discussions will feed into initiatives and platforms in the run-up to the Annual Meeting 2022 in Davos-Klosters from May 22-26.
The week-long meeting convened leaders on “The State of the World”. It was the first global platform of the year and focused on driving concerted action among key global stakeholders.
Founder and Executive Chairman, WEF, Klaus Schwab, said: “We are seeing challenges mounting from supply chain disruptions to tectonic shifts in labour markets, to inflation figures which are of concern to policymakers and individuals alike. The year ahead is a crucial one to work together, rebuild trust and shape a better and more inclusive future for all.”
Specifically, world leaders spoke on the global economic outlook, energy transition, social justice, healthy futures and resiliency in special addresses.
Secretary-General, United Nations, António Guterres, had admitted that: “Turning this ship around will take immense willpower and ingenuity from governments and businesses alike, in every major-emitting nation.”
He added that “We see a clear role for businesses and investors in supporting our net-zero goal.”
To this, Nigeria’s Vice-President, Yemi Osinbajo, had urged that natural gas, which Africa has in abundance, be accepted as a transitional fuel and not defunded.
He said: “We think that gas as a transition fuel is absolutely crucial, not just for an effective transition but also for our economies,” noting that Africa is the continent that contributes least to climate change yet has been most negatively affected by it.
We are seeing challenges mounting from supply chain disruptions to tectonic shifts in labour markets, to inflation figures which are of concern to policymakers and individuals alike.
Pioneering new research
Also, during the Davos Agenda, pioneering new research and project milestones were released to support stakeholders.
While sustainable finance is increasing, stakeholders noted that the funds are not always reaching those most in need, and to see how public-private collaboration can facilitate sustainable investment for development.
Among the projects are a new set of policy enablers to boost investment and innovation in digital economies, which was released to ensure digital transformation is inclusive and sustainable.
The Forum also worked closely with the International Financial Reporting Standards Foundation as a member of the Technical Readiness Working Group.
In so doing, the Forum contributed to the running start of the International Sustainability Standards Board, to support the creation of the standards prototypes that will now go through a standard-setting process.
In particular, plastic waste was in the spotlight as world leaders highlighted how they are moving fast to fight the climate crisis, just as Forum-supported companies are rolling out innovative reuse models to protect the planet.
It was observed that nature-positive practices, those that add value to nature, could contribute $1.9 trillion to the economy a year and 88 million jobs by 2030.
Also, cities can create 60 million jobs and save 50% on new infrastructure projects by adopting nature-based solutions, as nearly half of city GDP, $31 trillion, is at risk of disruption from nature loss.
Again, more partners announced plans to adopt nature-based solutions as part of the Forum’s 1t.org platform bringing total global pledges to over 30 companies committing to conserve, restore and grow more than 3.6 billion trees in over 60 countries.
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The Davos Agenda 2022
For over 50 years, the World Economic Forum has been the international organization for public-private cooperation.
The Davos Agenda 2022 is the focal point at the start of the year for leaders to share their outlook, insights and plans relating to the most urgent global issues.
The meeting also provided a platform to accelerate the partnerships needed to tackle shared challenges and shape a more sustainable and inclusive future.
