Displaying items by tag: Davos

The World Economic Forum annual meeting of 3,000 of the world's richest and most powerful people took place this week in Davos. One of the speakers was Greta Thunberg, who opened a debate entitled, ‘How to avert a climate apocalypse’. Attendees were not able to avoid climate change, as the theme was ‘Stakeholders for a Cohesive and Sustainable World.’ Meanwhile let us pray for Canadian residents cleaning-up after a monstrous winter storm that brought thirty inches of snow, causing chaos; for Australians dealing with the aftermath of severe thunderstorms, floods and hail the size of golf balls in different areas, while fire weather warnings cover parts of Western Australia; and for tens of thousands living near the restless Philippines volcano ‘recharging’ with fresh magma and toxic gas. The forum is asking all companies in Davos to commit to net zero carbon emissions by 2050.

An Oxfam report, released to coincide with the International Economic Forum at Davos, reveals that the world’s 26 richest people own as much as half the planet’s population. Addressing such large disparities may require coordinated action at the global level - for example a wealth tax. The widening gap is hindering the fight against poverty. A 12% increase in the wealth of the very richest contrasts with a fall of 11% in the wealth of the poorest half of the world’s population. In the ten years since the financial crisis, the number of billionaires has nearly doubled. The report said that a wealth tax on the 1% wealthiest would raise enough to educate every child not in school and provide healthcare that would prevent three million deaths. Ten thousand people are dying for lack of healthcare every day. But despite the profound impact of these statistics, there is little sense of urgency to act on any of the issues.

Theresa May’s speech at Davos spoke of the UK as a centre of Artificial Intelligence, stating that in the past few years a new AI startup has been created in the UK every week, and technologies like the internet were developed with a philosophy that connecting us together would improve people’s lives. She said that the UK is developing a digital charter, at the heart of which is a set of principles that the same rights people have offline should be protected online; the internet should remain free, open and accessible; people should understand the rules that apply to them when they are online; personal data should be respected and used appropriately; and protections should be in place to help keep people safe online, especially children.