“Companies are more trustworthy than governments.” This is how the private sector is stepping up – The European Sting – Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology
This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.
Author: Gayle Markovitz, Partnerships Editor, World Economic Forum
- The 2022 Edelman Trust Barometer reveals that companies and NGOs enjoy more trust than governments and that most workers expect CEOs to be the “face of change”.
- Heads of state, business leaders and world leaders gathered at the virtual Davos agenda this week to address the state of the world.
- As governments rely on the private sector for credibility and partnership, how is the business world tackling the biggest issues facing the world in 2022?
Trust is a subject that has emerged in sessions through the Davos virtual agenda this week, as world leaders, business and civil society came together to address the state of the world.
No wonder businesses have a vital role to play. the Edelman Trust Barometer 2022 reveals that “My employer” is now the most trusted institution, at 77%, and workers expect CEOs to be the “face of change”.
As all eyes turn to business and governments look to the private sector for credibility and partnership, how is the Forum’s business community tackling the biggest issues facing the world? in 2022?
COVID-19, vaccines – a unified approach
First, the pandemic and how the world will recover from the global health crisis.
The global rollout of the COVID-19 vaccine was hailed this week at Davos Agenda 2022 as the “most successful public-private partnership in human history”. Two sessions on what’s next for COVID-19 and vaccine equity brought together the private healthcare and pharmaceutical industry with leaders to brainstorm next steps.
CEO of Moderna, Stéphane Bancel, explained how his company is collaborating to develop the vaccine to meet the needs of 2022 and Doctor Anthony Fauci called in turn for a unified approach to development and distribution COVID-19 vaccines and the fight against new variants as they emerge. https://www.youtube.com/embed/GbvXqU6GTDg?enablejsapi=1&wmode=transparent
Risks vs Reality
Infectious diseases ranked 6th this year Global Risks Report, which reveals what keeps risk analysts up at night and how companies need to plan for the short, medium and long term.
In the report, Chief Risk Officer of Marsh McLennan, Carolina Klint, warned that the commercialization of space, with an increasing risk of collisions between satellites and space debris, threatens a “cascading effect” on critical services – such as telecommunications and transport.
And who could have not watched a Davos first – Live from space – where the astronaut Matthias Maurer, connecting via video link from the International Space Station, was joined by leading experts and industry leaders to explore how space research can improve life on our planet.
Meanwhile, on Earth, Group Chief Risk Officer, Zurich Insurance Group, Peter Giger explained, “Humans are no good at the boiling frog scenario, which is climate change; they are much better in the fight or flight scenario, which has been the pandemic. https://open.spotify.com/embed/episode/3OvEo5Vw4J5KhSoEvsePWw?utm_source=generator
Environmental risks dominated this year’s Risks report and were the subject of much discussion throughout the week. CEO of Vattenfall, Anna Borg, gave him a glimpse of the Meet the boss Podcast. She also discussed the energy transition alongside industry colleagues, including Bill Gates, founder of Microsoft, in a session focused on accelerate and scale up climate innovation. https://open.spotify.com/embed/episode/60umGs6L8jzwMxRDmLCoxB?utm_source=generator
Trading predictions – tech, tech, tech
Ahead of Davos Agenda Week, we asked business leaders for their views on key areas at risk – from net zero to supply chain disruption, and the future of care health to the power of data.
The main takeaways for the coming year are more innovation, more disruption, and radical change. And the answers all lie in technology. But the technology will require careful and ethical implementation to avoid the pitfalls of progress.
Digital transformation – but how to get there?
Digital adoption and equitable access to digital tools have been highlighted by the pandemic. During a session devoted to technological cooperation, representatives of the World Economic Forum Alliance Edison was in the spotlight, with the initiative impact change the lives of millions of people around the world. digital, COVID-19, EDISON Alliance
EDISON Alliance: What is the Forum doing to bridge the digital divide?
COVID-19 has exposed digital inequalities globally and exacerbated the digital divide. Most of the world lives in areas covered by a mobile broadband network, but more than a third (2.9 billion people) are still offline. Cost, not coverage, is the barrier to connectivity.
Through the 1 Billion Lives Challenge, the EDISON Alliance aims to improve 1 billion lives worldwide through affordable and accessible digital solutions in healthcare, financial services and education by 2025.
Learn more about the work of the EDISON Alliance in our Impact story.
Edison Alliance Champion, Verizon’s Hans Vestberg emphasized that with 3.6 billion people still offline today, we must use 21st century infrastructure (mobility, broadband and cloud services) to achieve accessible and affordable digital technology and services for all . That’s why the Edison Alliance is working to improve digital inclusion for 1 billion people in health, education and financial services. https://www.youtube.com/embed/mV3eJKHLYLQ?enablejsapi=1&wmode=transparent
Doing well and doing well – stakeholder capitalism
The transition to a new type of capitalism – combining the creation of prosperity, service to society and respect for the planet – was discussed on new sustainable reporting indicators and one 5-Part Video Podcast Series. https://open.spotify.com/embed/episode/7pSj4vvmsn9jMqBz1S0Ww3?utm_source=generator
Julie Sweet, President and CEO, Accenture, spoke of a palpable shift in corporate mindset around reporting standards, highlighting how companies that have embraced sustainability are more profitable. https://www.youtube.com/embed/lHyLQuFQ5Z8?enablejsapi=1&wmode=transparent
Emphasizing the importance of “not just measuring, but actually doing” in efforts to address climate change, Alain Bejjani, Managing Director, Majid Al Futtaim, rush to act. Today, more than 140 companies showed their support for the Stakeholder Capitalism Metrics initiative, with more than 50 already include the metrics in their reports. https://www.youtube.com/embed/5n5NZUivz7A?enablejsapi=1&wmode=transparent
The idea of stakeholder capitalism at the heart of an overhaul of reporting metrics has been the subject of Larry Fink, President and CEO of Blackrockit is appeal to CEOs be “deliberate about their role in society and act in the interests of their employees, customers, communities and their shareholders” in its annual letter to investors, announcing the launch of a new Center for Stakeholder Capitalism.
Business insights: CEOs and cyber threats
The year 2021 saw the highest average cost of a data breach in nearly two decades, and the business world is mobilizing. New Cybersecurity Learning Center, created by Selling power, Fortinet and the Global Cyber Alliance, in partnership with the Forum, offers free training that is accessible worldwide through the Cybersecurity Learning Hub.
A Accenture Report on the “signals” that reshape organizations, highlights six ways to chart the future; PwC Annual Global CEO Survey suggests that business leaders worry most about cyber threats and health risks; and Deloitte Global Healthcare Outlook 2022 says innovation and disruption will continue in the sector.
More tokens, please
And finally, after Ursula von der Leyen’s rallying call for Europe to raise its game in semiconductor development and production, and the announcement of a new european crisps law, Intel CEO Pat Gelsinger, was in the spotlight during a session on trade and supply chains.
He spoke directly on the issue, saying, “I think we in the industry have an obligation to our political partners.” And he talked about working to develop policies to “make technology a force for good”. https://www.youtube.com/embed/gObcJIUK8rA?enablejsapi=1&wmode=transparent