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 Davos 2020: Everything you need to know about the World Economic Forum

 Davos 2020: Everything you need to know about the World Economic Forum

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pIn a bid to address the issue of the recent burning that is threatening survival, world leaders will meet this week, starting from January 21st to January 24th, at Davos, one of the coldest spots on earth.

For several years, the World’s Davos gathering has been tackling issues of globalization, the Fourth Industrial Revolution and artificial intelligence. 

The gathering was launched 50 years ago in Swiss ski village by the free-market optimist, Klaus Schwab, and it aims to bringing the world’s economies closer.

This year, the song of Davos will be closer to Bob Marley’s track ‘So Much Trouble In The World’, from his ‘Survival’ album.

The wags used to paint it as the great, good and the powerful linking arms to sing: ‘We are the World.’ This year, the song of Davos could be closer to a Bob Marley’s So Much Trouble in the World on the aptly named album Survival.

The World Economic Forum said that the greatest risk discovered in its 10-year outlook is extreme weather destroying property and taking life, followed by the failure to tackle climate change. Also, the raging fires which lay waste vast tracts of Australia won’t be doused until March.

Other greatest risks identified by the 750 global experts polled by WEF, are: environmental crime and mistakes  like radiation leaks and oil spills; followed closely by the destruction of natural resources, tsunamis earthquakes and geomagnetic storms.

Calling on world leaders over the issue, the President of the World Economic Forum, Borge Brende said: “The political landscape is polarised, sea levels are rising and climate fires are burning. This is the year when world leaders must work with all sectors of society to repair and reinvigorate our systems of cooperation, not just for a short-term benefit but for tackling our deep-rooted risks,” 

This marks the second year in a row that climate and environment concerns top the list. It is also one of the reasons why climate change is shooting up the news agenda in newsrooms around the world and causing companies worldwide to rethink their investments.

Aside from the fury of the elements, 2020 threatens to be a dangerous and depressing year all round.

“The report forecasts a year of increased domestic and international divisions and economic slowdown. Geopolitical turbulence is propelling us towards an “unsettled” unilateral world of great power rivalries at a time when business and government leaders must focus urgently on working together to tackle shared risks’,” says the report.

The leaders of the South African delegates to Davos, will meet at a plush hotel in Rosebank, Johannesburg, to set out their stall for yet another pitch to the world for investors, as the economy stalls with growth expected to be less than one per cent this year.

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As usual, the South Africans will be looking largely for investors in heavy industry, tech and mining.

Perhaps the country which is one of the biggest polluters in Africa, should be looking to attract investment into renewable energy to help avert climate change before the elements eat it for breakfast.

 

This article was written by Asoegwu Somto

 

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