Davos to host WEF meeting again; Ukraine crisis, priority to climate change

After a hiatus of nearly two and a half years, the Swiss ski resort of Davos is set to once again host the annual meeting of the World Economic Forum with a host of world leaders, including India, expected to deliberate on the Ukrainian crisis, climate change and a host of other issues affecting the world.

The highly publicized annual powwow of the world’s rich and powerful will begin with a welcome reception on Sunday evening and run through Thursday, May 26. and German Chancellor Olaf Scholz, among a host of other world leaders.

From India, three union ministers – Piyush Goyal, Mansukh Mandaviya and Hardeep Singh Puri – as well as several heads of state including two chief ministers – Basavraj S Bommai and YS Jagan Mohan Reddy – as well as KT Rama Rao from Telangana, Aditya Thackeray from Maharashtra and Thangam Thennarasu, along with several other public figures and a host of CEOs will discuss key issues here over the next six days.

Overall, more than 50 heads of government or state are expected to attend the annual meeting, which usually takes place here in January when this small town is totally blanketed in snow, but this time around it’s a sunny weather. The 2021 annual meeting could not take place physically, while that of 2022 had to be postponed due to the Covid pandemic.

The World Economic Forum (WEF) said the 2022 annual meeting will focus on “history at a turning point”, the theme of the summit.

Issues to be discussed include government policies and business strategies in the context of a global pandemic, war in Ukraine and geo-economic challenges.

The meeting is being held at a strategic point where public figures and world leaders will meet in person to reconnect, exchange ideas, gain new insights and advance solutions.

The meeting’s top priority is to accelerate progress and make an impact by tackling global challenges and improving the state of the world, the WEF said.

After a two-and-a-half-year hiatus, the meeting will bring together nearly 2,500 leaders and experts from around the world, all committed to the “spirit of Davos” to improve the state of the world.

Against the backdrop of deepening global frictions and fractures and a once-in-a-century pandemic, the unprecedented global context calls for purpose and determination, and the ambition of the meeting is to meet these challenges, said the WEF.

Over the past two years, the World Economic Forum said, it has strengthened its impact initiatives, which address issues ranging from COVID-19 and climate change to education as well as technology and governance. Energy.

These include the Reskilling Revolution, an initiative to provide 1 billion people with better education, skills and jobs by 2030; an initiative on Universal Environmental, Social and Governance (ESG) Measurements and Disclosures to measure stakeholder capitalism; and the 1 Trillion Tree Initiative, 1t.org, to protect trees and forests and restore the planet’s ecosystems.

As the world finds itself at such a critical juncture, business and government leaders around the world must work together to develop long-term policies and strategies that will revitalize the hard-hit global economy, reinforce the progress made to advancing the fourth industrial revolution and tackling the greatest threat to humanity – climate change, said the WEF, which describes itself as an international public-private partnership organization.

“The annual meeting is the first summit that brings together world leaders in this new situation characterized by an emerging multipolar world due to the pandemic and war.

“Having almost 2,500 leaders from politics, business and civil society meet in person demonstrates the need for a trusted, informal and action-oriented global platform to address issues in a world in crisis,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum.

Several priorities and issues intersect with the theme of the meeting and define the current moment and will shape the years to come.

The program will focus on six thematic pillars. These include fostering global and regional cooperation; how to restore stability in a new era of conflict and geopolitical tension and advance trade, prosperity and partnerships; and ensuring economic recovery and shaping a new era of growth.

It is also about how to stabilize the real economy and the financial system, while determining the future of balanced growth, globalization and development; and building healthy and equitable societies.

Leaders will also discuss how to move beyond the health emergency phase of the pandemic, rebuild in its wake and build health resilience against future threats, as well as invest in good jobs, decent wages, skills and education, not forgetting to redefine stakeholder capitalism for a new context.

More than 1,250 private sector leaders will attend, as well as nearly 100 global innovators and technology trailblazers – the world’s most promising technology and business start-ups and scale-ups.

Civil society will be represented by more than 200 leaders from NGOs, social entrepreneurs, universities, labor organizations, faith-based and religious groups, and more than 400 leaders from media and news articles.

The annual meeting will also bring together younger generations, with the participation of 100 members of the Forum’s Global Shaper and Young Global Leader communities.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Christi C. Elwood