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What are WEF major efforts on climate action in 2022-2023?
President of the Managing Board of the World Economic Forum (WEF) Børge Brende
highlighted in his statement in the 2022-2023 Annual Report the major efforts exerted by the WEF to serve climate action and the lesson of the year in this regard.
On climate action, at a “now-or-never” moment for making progress on reaching emissions targets, the First Movers Coalition increased its membership from 35 to 80 companies, adding Canada and the United Arab Emirates as Government Partners.
The WEF also launched a Chief Sustainability Leaders Community with 60 CSOs to advance corporate action on sustainability transformation.
The Forum signed an agreement with the Government of the United Arab Emirates in support of the COP28 agenda. These efforts came alongside a focus on advancing nature-based solutions.
The Forum signed a new partnership with the Government of Indonesia to support its ambitions to increase blue carbon restoration and ocean conservation efforts and also published the Food, Nature and Health Transitions – Repeatable Country Models report as a roadmap for investment and partnerships to increase technology innovation for regenerative food systems.
A crucial part of delivering growth and accelerating climate action rests on getting the energy transition right. Here, the Forum launched the Coal to Renewables Toolkit, offering pragmatic best practices from coal power producers and regions that have repurposed their coal infrastructure into clean energy. And the WEF launched the Net-Zero Industry Tracker, the world’s first standardized cross-sectoral framework to monitor progress on hard-to-abate sectors’ decarbonization.
The revolutionary development of frontier technologies offers new opportunities, which is why the Forum introduced the Global Collaboration Village, the first global, purpose-driven metaverse platform. But some of these technologies also bring associated risks.
The WEF therefore unveiled the Center for Trustworthy Technology in Austin, Texas (US) to promote the responsible production and use of emerging technologies.
It also continued to work with governments and partner institutions to expand the Center for the Fourth Industrial Revolution Network, with other new centers opening in Telangana (India) and Malaysia.
These centers join a global network of 19 worldwide, each acting as national and subnational focal points for unlocking new technology-driven opportunities in a responsible way, with a mechanism to elevate shared learnings and solutions.
It also convened 135 cybersecurity leaders at Forum headquarters for the Annual Meeting on Cybersecurity to discuss steps to address global cybercrime, cyberwarfare and quantum security. Achieving these milestones has been possible only through the active partnerships and collaboration of stakeholders from business, government and civil society.
That these collaborative efforts delivered impact is testament not just to the strength of the individual efforts but to the model of multistakeholder collaboration. I am particularly proud that the members of the younger generation – the Global Shapers, Young Global Leaders and Schwab Foundation Social Entrepreneurs – have been crucial voices, helping deliver impact.
This year, the Global Shapers Community reached a milestone by growing to over 500 city-based Hubs. The foundation of the Forum’s success has been its talented staff who collaborate daily with each other and with Partners to deliver impact.
The World Economic Forum has long made it a priority to foster professional growth and enrich the employee experience, which is why the WEF increased the learning budget by 45% this past year to CHF 1.4 million.
It also invested in our Early Careers Program aimed at young professionals, hiring 45 participants. We offer an array of development programs and encourage individuals’ flexibility in designing their development paths.
The Forum is proud to be committed to fostering an environment where diversity is welcomed and success is celebrated, enabling employees to thrive and grow.
“Perhaps the greatest lesson of the year was that, although the challenges before us are formidable and time is in short supply, the collective strength of stakeholders can deliver remarkable impact. The only thing required is that we work together,” the report highlighted.
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