This year’s gathering in the Swiss ski resort town is happening against its most complicated geopolitical backdrop ever, which its President Borge Brende predicted would result in a focus on high level diplomatic talks on wars in the Middle East, Ukraine and Africa.
“We will make sure that we bring together the right people … to see how we can solve this very challenging world,” Brende said.
The World Economic Forum’s annual meeting has long been a beacon for global leaders, thinkers, and influencers to converge and deliberate on pressing global issues.
Attendees this year include French President Emmanuel Macron, Chinese Premier Li Qiang, US Secretary of State Antony Blinken and US National Security Advisor Jake Sullivan, and Middle East leaders from Qatar and the United Arab Emirates who are leading efforts to achieve a resolution to the conflict in Gaza.
The wars in Ukraine and Gaza have had a significant impact on global peacefulness, with the Global Peace Index 2023, produced by independent think tank the Institute for Economics & Peace (IEP), showing Ukraine and Russia having the largest and fifth largest deteriorations in peacefulness respectively. Haiti, Mali, and Israel were the other countries with the largest deteriorations.
In addition to seeking to fight a path towards peace in Gaza, the other key areas of debate at the conference will be:
Climate Crisis
The escalating climate crisis is focussing efforts to mitigate carbon emissions, foster sustainable development, and protect biodiversity. The summit is expected to witness intense discussions on implementing actionable strategies, fostering innovation in green technologies, and encouraging global collaboration to achieve the ambitious targets set by the Paris Agreement.
Pandemic Preparedness
The Covid-19 pandemic exposed vulnerabilities in global health systems and highlighted the need for robust pandemic preparedness. DAVOS 2024 aims to chart a course for a more resilient and cooperative approach to handling health crises, including equitable vaccine distribution, bolstering healthcare infrastructure, and advancing research and development in virology.
Economic Inequality
As economies recover from the pandemic’s impact amid rising interest rates and debt, addressing economic inequality will be on the agenda at DAVOS 2024. Discussions will revolve around creating inclusive economic systems, closing the wealth gap, and promoting social mobility. Policymakers including central banks, along with business leaders, will explore innovative solutions to ensure that the benefits of economic growth are shared equitably.
Global Governance Reforms
DAVOS 2024 seeks to foster stronger global governance mechanisms, emphasising collaboration between nations to address shared challenges. The summit’s agenda includes discussions on reforming international institutions, enhancing multilateral cooperation, and building trust between nations for effective problem-solving.
Technological Innovation and Ethics
The rapid pace of technological advancement brings both opportunities and challenges. DAVOS 2024 will feature sessions on navigating the Fourth Industrial Revolution responsibly. Topics such as artificial intelligence ethics, digital governance, and the responsible use of emerging technologies will be at the forefront of the agenda.
Social Impact and Corporate Responsibility
The role of businesses in driving positive social and environmental change is a recurring theme at Davos. The summit will explore how corporations can contribute to societal well-being, uphold ethical business practices, and integrate sustainability into their core strategies.
Resilience and Adaptation
Discussions will centre around how nations, industries, and communities can build resilience to withstand shocks, be they environmental, economic, or health-related. Emphasis will be placed on adaptive strategies that can help navigate an uncertain future.
Stakeholder Capitalism
Building on the stakeholder capitalism ethos, the summit will explore how businesses can create value not only for shareholders but also for employees, communities, and the environment. Themes related to responsible business practices, corporate social responsibility, and sustainable investing will feature prominently.
Global Solidarity
In the face of interconnected challenges, Davos will underscore the importance of nations working collaboratively to address shared problems. The theme of global solidarity will permeate discussions on climate action, public health, and economic recovery.
The summit’s success will ultimately be measured through the commitment of nations, businesses, and organisations to concrete actions. Tangible pledges to reduce carbon emissions, invest in sustainable development, and support global health initiatives will signal progress.
Can ideas and proposals discussed at Davos translate into policy reforms at the national and international levels, particularly policies that address economic inequality, climate change, and global health challenges?
The success of the conference will also be judged by the inclusivity of voices at the table. A diverse range of perspectives, including those from emerging economies, civil society, and marginalised communities, will be indicative of a summit that addresses the needs of the global population.
And given the pre-conference focus on global conflicts, the ultimate immediate measure of success at Davos will be if it results in any advancement of peace in Gaza or Ukraine.
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