Klaus Schwab Tells World Economic Forum That Global Challenges Are Catalysts For ‘Economic Transformation’

World Economic Forum Chair Klaus Schwab told elected officials and corporate leaders gathered at the organization’s annual conference in Davos, Switzerland, on Tuesday that the world’s present economic and geopolitical challenges are opportunities for “transformation.”

This organization is a leader in the promotion of stakeholder capitalismA philosophy of economics in which executives take into account the needs of other parties and communities in addition to shareholders. There is also increased cooperation between public- and private actors in order to chart the future direction of humanity.

“We are confronted with unprecedented and multiple challenges. First, our global economy is undergoing deep transformation,” Schwab said during his opening address. “The energy transition, the consequences of COVID, the reshaping of supply chains are all serving as catalytic forces for the economic transformation.”

He stated that large corporations and social media firms are now part of the “The Future” “messy patchwork” Superpowers, emerging power, and rogue countries “all competing increasingly for power and influence.” According to the German economist, the world is marked “by”. “increased fragmentation and confrontation.”

Schwab, who led the controversial organization for decades has gained worldwide attention for suggesting that lockdown-induced recession offers an opportunity for elites of crafting a new economy. “Great Reset” of the planet’s economic and social systems. Many of these he repeated. tenets During his speech, he described the plan.

“The spirit of Davos is positive and constructive. It means investing into a greener and therefore more sustainable economy, investing into a more cohesive society by providing everyone with the appropriate skills and opportunities, investing into the hard and soft infrastructure that modern societies require,” He said. “Through collective responsibility, innovation, and human goodwill and ingenuity, we have the capacity to turn such challenges into opportunities.”

The conference featured other prominent speakers, including Olena Zelenska (Ukraine First Lady), who spoke on Tuesday. remarked The “combined influence” The assembly nations and corporate interest is “bigger than the weight” These are their common problems. “That is why it is all the more important right now to use this influence when Russia’s invasion threatens a large-scale collapse of the world as we know it,” She added.

European Commission President Ursula von der Leyen likewise affirmed That “Europe will always stand with the Ukrainian people” He commented that policymakers would continue to try to “reach net zero” Carbon emissions are despite energy shortages that have been made worse by the invasion.

The theme of this year’s World Economic Forum conference is “Cooperation in a Fragmented World,” That includes “how we can tackle the numerous and interlinked challenges the world is facing and find solutions through public-private cooperation,” According to a press release From the organization. Many officials from the Biden government are present, including John Kerry (Special Presidential Envoy for Climate Change), who is listed on the agenda as a featured speaker. panel Information about corporations and governments using “the power of catalytic philanthropy” For climate investments.

Other American officials include Gov. Brian Kemp (R-GA), Sen. Joe Manchin (D-WV), Sen. Kyrsten Sinema (I-AZ), Sen. Chris Coons (D-DE), and “a few members of the House of Representatives” Participated in a luncheon On Monday, the conference saw several prominent executives attend alongside them. According to a report CNBC. Coons and Manchin discussed respectively energy policy and government support for Ukraine.