World Economic Forum

Founding Year: 1971

Staff: 400

Budget: CHF325m

Klaus Schwab (Founder, Executive Chairman)

The economic forum is committed “to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.” Best-known for its annual meeting of luminaries in Davos, Switzerland. Membership involves “1000 of the world’s top corporations.” Besides that they hold many smaller meetings and events around the globe that focus on specific issues.

WEF’s work focuses on five Issue Areas: Economic Growth (including food security and a circular economy), Environmental Sustainability, Financial Systems, Health for All, and Social Development. Their employees come from 60+ nationalities in four centers in  Geneva, Beijing, New York, and Tokyo.

They view the global, regional and industry challenges facing the world as the result of the interaction between interconnected systems “from global systems that influence the environment and natural resource security, to the economic systems that create inequality, to the regional systems that determine the fortunes of nations, to the industrial systems that determine the effectiveness of supply and demand.” They work with their members “to understand and influence the entirety of the system that affects the challenges and opportunities they are trying to address.

Publications:

HIGHLIGHTS:

  • Chief Economists Outlook (2021) – Explores the most important forces “supporting the recovery as well as important developments and risks that could yet delay or derail it. It draws on the collective views and individual perspectives of a group of leading Chief Economists, through the Forum’s Chief Economists Survey and consultations with the Chief Economists Community.”
  • Fostering Effective Energy Transition (2019, 40p.) – Summarizes insights in a “Energy Transition Index”, that “benchmarks 115 countries on the current level of their energy system performance, and the readiness of their macro environment for transition to a secure, sustainable, affordable and inclusive future energy system.”
  • The Global Risks Report 2019 (Jan 2019, 107p) – An annual report that is based on the WEF Global Risks Perceptions Survey of “nearly 1,000 decision-makers from the public sector, academia, and civil society.”  Scientists are not mentioned, although some respondents, at least, probably have science backgrounds.  This 14th annual edition on evolving risks summarizes the top ten by likelihood and impact.  Top Ten in Likelihood: extreme weather events, failure of climate change mitigation or adaptation, natural disasters, data fraud or theft, cyberattacks, man-made environmental disasters, large-scale involuntary migration, biodiversity loss/ecosystem collapse, water crises, asset bubbles in a major economy.  Top Ten in Impact: weapons of mass destruction, failure of climate mitigation/adaptation, extreme weather events, water crises, natural disasters, biodiversity loss/ecosystem collapse, cyber-attacks, critical information infrastructure breakdown, man-made environmental disasters, spread of infectious diseases.   No action agenda is proposed, but the report is a valuable reminder that weapons of mass destruction and ruinous cyber-attacks can worsen environmental problems even more.  We cannot have sustainability without security, but we also cannot have security without sustainability.

 

World Economic Forum contributes to the following Sustainable Development Goals


  • SDG 1 - No Poverty
    Calls for an end to poverty globally by 2030 and promotes increased access to basic services and social protection.
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  • SDG 2 - Zero Hunger
    Aims to end hunger, achieve food security and improved nutrition and promote sustainable agriculture
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  • SDG 3 - Good Health and Well Being
    Aims to ensure healthy lives and promote well-being for all at all ages, by reducing mortality rates and increasing access to equitable health care for men and women.
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  • SDG 4 - Quality Education
    Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.
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  • SDG 5 - Gender Equality
    Aims to end gender discrimination in all forms and promote equal opportunity for all women and girls in terms of education, career, and sexual/reproductive rights.
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  • SDG 6 -Clean Water and Sanitisation
    Ensure availability and sustainable management of water and sanitation for all by promoting global access to adequate sanitation and hygiene.
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  • SDG 7 - Affordable and Clean Energy
    Ensure access to affordable, reliable, sustainable and modern energy for all by promoting affordable and reliable energy sources.
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  • SDG 8 -Decent Work and Economic Growth
    Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
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  • SDG 9 - Industry, Innovation and Infrastructure
    Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.  
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  • SDG 10 - Reduced Inequalities
    Aims to achieve economic growth by reducing inequalities regarding social, economic and political opportunities and freedoms.
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  • SDG 11 - Sustainable Cities and Communities
    Aims to promote the globalization of sustainable cities and communities in turn providing universal safe and affordable housing.
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  • SDG 12 - Responsible Consumption and Production
    Aims to create responsible and sustainable practices involving consumption and production through efficiently using natural resources.
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  • SDG 13 - Climate Action
    Calls to take urgent action to combat climate change and its impacts through global awareness, education, and integration into government policies.
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  • SDG 14 - Life Below Water
    Calls to conserve and sustainably use the oceans, seas and marine resources for sustainable development and prevent and reduce marine pollution in order to protect ecosystems and achieve healthy oceans.
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  • SDG 15 - Life on Land
    Aims to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.
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  • SDG 16 - Peace, Justice and Strong Institutions
    Aims to promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels. Calls to reduce all forms of violence and deaths related to violence and to end abuse and exploitation
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  • SDG 17 - Partnerships for the Goals
    Aims to strengthen the means of implementation and revitalize the global partnership for sustainable development by mobilizing domestic resources in order to provide support for developing countries.
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