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Largest ‘Summer Davos’ Ever Aims to Boost Global Innovation

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Leaders participating in the 12th Annual Meeting of the New Champions, to be held in Tianjin, People’s Republic of China, 18-20 September, will be taking part in the largest ever World Economic Forum summit dedicated to the Fourth Industrial Revolution. In total, the meeting will welcome over 2,000 top-level representatives from politics, business, civil society, academia and the arts from over 100 countries.

The theme of the meeting is Shaping Innovative Societies in the Fourth Industrial Revolution. Top of the agenda will be workshops on how the Fourth Industrial Revolution, a transformation powered by new technologies such as artificial intelligence, the internet of things and gene editing, is already impacting economies and societies as well as the geopolitical landscape.

Ways in which our world is being impacted by these technologies include the widespread deployment of industrial robots in the manufacturing sector, a rapid expansion in the use of artificial intelligence in business and scientific research, the dangerous concept of “dual-use” technologies, or technologies designed for civilian use that can easily be repurposed for military application.

In addition, the meeting will focus on the key geopolitical and geo-economic issues of today, including the latest developments in global trade, the rise of a “multi-conceptual” geopolitical system and the prospects for the global economy.

There will also be a strong focus on China’s rapid development, featuring top-level discussions on a range of topics including developments in the Belt and Road Initiative, the opening up of China’s financial markets and the country’s recent launch of the world’s largest carbon trading scheme.

Like all World Economic Forum meetings, the design of the programme is heavily weighted towards delivering outcomes, with over 100 working sessions in the programme enabling participants to reach consensus, design policies and build partnerships aimed either at exploiting or mitigating the impacts of the wave of transformation.

“Our world is going through one of the most profound shifts in human history. We are only at the beginning of this transformation, yet we know it holds immense promise and challenges for our future. The purpose of designing an international summit that is dedicated to the Fourth Industrial Revolution is to focus the minds of our leaders on how to harness this immense potential and make sure that the future we build is human-centred, sustainable and inclusive,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

“From its home in China, the Annual Meeting of the New Champions has grown over 12 years to become the leading global event bringing leaders from government and business together with those from science and technology. I’m proud this year to be welcoming so many Chinese and international partners, many for the first time, as we look to find new ways for innovation to address our gravest challenges and to drive human and economic development,” said David Aikman, Chief Representative Officer, China, World Economic Forum.

“The year 2018 marks the 40th anniversary of China’s reform and opening-up. Driven by the new international dynamics and revolutionary technologies, China will advance reforms and innovation to push for quality economic development for a brighter future. In the meantime, China is an unwavering champion for globalization that will continue to open its door wider while joining hands with all stakeholders to preserve economic openness and inclusion. I’m looking forward to being inspired by visionary insights and technological trends shared at the forum regarding the Fourth Industrial Revolution, which will provide a great source of power for advancing China’s development and global wellbeing in this new era,” said Xia Qing, Deputy Director General, Department of International Cooperation, NDRC.

“This year marks the 40th anniversary of ‘reform and opening-up’ in China, and the sixth Annual Meeting of the New Champions to be held in Tianjin. It is also an opportunity for Tianjin to realize the transition from high-speed growth to high-quality development. The meeting will not only introduce China’s achievements in deepening reform, extended open-up and cultural advancement but also provide the largest platform and the broadest development space to expand and enhance Tianjin’s competitiveness and influence,” said Zhao Haishan, Vice-Mayor, Tianjin Municipal Government.

Nearly 200 public figures from 42 countries will join the discussions in Tianjin. From China, these include: Wan Gang, President, Chinese Association for Science and Technology; Yi Gang, Governor, People’s Bank of China; Wang Zhigang, Minister of Science and Technology; Xiao Yaqing, Chairman, State-Owned Assets Supervision and Administration Commission (SASAC); and Liu Kun, Minister of Finance.

International public figures representing G20 economies include: Mounir Mahjoubi, Secretary of State for Digital Affairs of France; Dorothee Baer, State Minister for Digital Affairs of Germany; Nabeel M. Al-Amudi, Minister of Transport of Saudi Arabia; Jeff Radebe, Minister of Energy of South Africa; and Rick Snyder, Governor of Michigan, USA.

Four countries will be represented by heads of state or government. Meanwhile 38 countries will be represented by deputy heads of state, government or ministers. These include: Kamal Bin Ahmed Mohammed, Minister of Transportation and Telecommunications of Bahrain; Mohammed Shahriar Alam, State Minister for Foreign Affairs of Bangladesh; Rodrigo Malmierca Diaz, Minister of Foreign Trade and Foreign Investment of Cuba; Kersti Kaljulaid, President of the Republic of Estonia; Raimonds Vejonis, President of Latvia; Mohammed Abdul Wahed Al Hammadi, Minister of Education and Higher Education of Qatar; Tuilaepa Lupesoliai Sailele Malielegaoi, Prime Minister of Samoa; and Aleksandar Vucic, President of Serbia.

The Co-Chairs of the meeting, who will take an active role in a number of sessions, are: Jay Flatley, Executive Chairman, Illumina, USA; Suzanne Fortier, Principal and Vice-Chancellor, McGill University, Canada; Matt Hancock, Secretary of State for Health and Social Care, United Kingdom; Ken Hu, Deputy Chairman and Rotating Chairman, Huawei Technologies, People’s Republic of China; Liu Jitao, China Communications Construction Company, People’s Republic of China; Carlos Moedas, Commissioner for Research, Science and Innovation, European Commission; and Abi Ramanan, Chief Executive Officer, ImpactVision, UK.

Other key participants include: more than 1,500 business leaders including 500 founders and chief executive officers of the most exciting and innovative start-up companies, more than 50 Young Scientists, the new class of 2018 Technology Pioneers, and representatives from arts and culture, academia and the media. Representing the Forum’s communities are more than 300 Social Entrepreneurs, Global Shapers and Young Global Leaders.

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Latin America and Caribbean on the Brink of Massive Solar Power Growth

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Latin America and the Caribbean could grow their installed solar capacity by a factor of 40 by 2050, a new report by the International Renewable Energy Agency (IRENA) shows. Annual investmens exceeding seven billion would see the region’s solar PV capacity rise from 7 gigawatts (GW) today, to more than 280 GW by mid-century. While solar energy remains the highest in Asia, North America and Europe, market growth is set to shift to other regions in the world.

By that time, solar PV would represent the second-largest power source behind wind, generating a quarter of the world’s power, “Future of Solar Photovoltaic” launched today at “Sun World 2019” in Lima finds. In total, global solar power capacity would rise from 480 GW in 2018 to over 8000 GW by 2050, growing by nearly 9 per cent every year.

“Solar PV and other renewables sources represent the most effective and ready solution for addressing growing energy demand and limiting carbon emission at the same time,” said IRENA’s Director-General Francesco La Camera. “Renewables are practical, affordable and climate-safe. They are key to sustainable development, enabling energy access, spurring economic growth, creating employment and improving health. Particularly solar energy is set to become one of the most prominent power sources in 2050. Projected growth rates in markets like Latin America showcase that we can extend the energy transition to all countries. It’s possible.”

If accompanied by sound policies, the transformation driven by renewables such as solar can bring substantial socioeconomic benefits, IRENA’s new report finds. The global solar industry has the potential to employ over 18 million people by 2050, four times more than the 4.4 million jobs today.

Over the last decade, installed capacity of off-grid solar PV has grown more than tenfold, from roughly 0.25 GW in 2008 to almost 3 GW in 2018 around the world. With its modular and flexible nature, solar PV technology can be adapted to a wide range of off-grid applications and to local conditions. Indeed, off-grid solar PV is a key technology for achieving universal electricity access, in line with the UN Sustainable Development Goals.

Similarly, the deployment of rooftop solar PV systems has increased extensively, which today makes solar PV in some markets more attractive than buying electricity from the grid. The competitiveness of distributed solar power is clearly raising deployment in large markets, including Brazil, China, Germany and Mexico.

Statistical highlights:

Accelerating solar PV can cut energy-related CO2 emissions by 21 per cent in 2050.

With over 50 per cent of installed capacity in 2050, Asia (mostly China) would continue to dominate solar PV power, followed by North America (20%) and Europe (10%). The Latin American market would grow from 7 GW in 2018 to over 280 GW.

Annual solar PV investment would have to increase by 68 per cent on average globally, from USD 114 billion in 2018 to USD 192 billion in 2050.

Global levelised cost of electricity (LCOE) for solar PV will continue to fall from an average of USD 85 cents per kilowatt-hour (kWh) in 2018 to between USD 5-14 cents per kWh by 2050. A recent solar and wind power auction in Colombia was awarded for an average electricity price of USD 27 cents per kWh.

Due to innovations, solar PV remains a fast-evolving industry. Floating PV is one of the most prominent examples with global cumulative installed capacity exceeding 1 GW in 2018. Battery storage and electric vehicles are key solutions to support the grid and manage high shares of solar PV as well as to guarantee the flexibility of the power system.

The full report “Future of Solar Photovoltaic. Deployment, investment, technology, grid integration and socio-economic aspects” can be found here

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ADB Project to Promote Rural Entrepreneurship in Nepal

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The Asian Development Bank (ADB) has approved a $50 million loan for a project that will improve the livelihoods and increase incomes of small farmers in Nepal by helping them in the financing, development, and operations of rural enterprises.

“Rural enterprises have a huge potential in contributing to the economy of Nepal, but this potential has to be realized by providing them with the necessary boost they need, both financially and technically,” said ADB Senior Portfolio Management Specialist Ms. Mayumi Ozaki. “The ADB project will help provide much-needed financing to subsistence farmers, through the Small Farmers Development Bank (SFDB), so they can develop their enterprises and improve their livelihoods.”

Agriculture plays a significant role in Nepal’s economy, contributing about 27% of the country’s gross domestic product and employing about 70% of the population. However, the sector is largely subsistence in nature, with a heavy focus on primary production of crops and livestock, which is not enough to move rural households out of poverty. Shifting from current subsistence agricultural production to value-adding rural enterprises can help rural households improve their income stream.

The Rural Enterprise Financing Project will help improve rural enterprises’ and cooperatives’ access to finance, addressing the low appetite of formal financial institutions in financing rural enterprises given that only about a quarter of banks’ total loan portfolios go to micro, small, and medium-sized enterprises. This aversion to rural enterprise financing stems from banks’ limited rural outreach; limited knowledge and risk assessment capacity in rural enterprise financing; and rural enterprises’ difficulty in securing valid loan collateral.

ADB’s assistance will help develop and finance at least 50 collective enterprises—which include commercial farming, milk collection centers, mustard oil mills, rice mills, as well as seed and tea processing factories—with value chain development and business facilitation support. This will be coursed through SFDB, which will make loans of up to NRs20 million ($175,132) to a collective enterprise with shareholders comprised of at least 40% women.

The project, meanwhile, will support about 500 individual small farmers, at least 30% being women, who are willing to start or expand their individual enterprises, with loans of up to NRs5 million. The project will also provide technical support including capacity building in finance, business appraisal, due diligence, risk assessment, financial management, and safeguards.

ADB will also provide grants of $500,000 from the Technical Assistance Special Fund and $250,000 from the Financial Sector Development Partnership Special Fund for the project, which is due for completion in mid-2025.

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Climate change: Scientists warn over impact on food security and oceans

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UN climate scientists presented MEPs with new evidence on how climate change is affecting food production and oceans.

The Intergovernmental Panel on Climate Change is the United Nations body for assessing the science related to climate change. In August, it presented a report on climate change and land and in September one on the oceans and cryosphere in a changing climate. The reports are the latest scientific input for the UN climate summit COP25 to be held in Madrid in December.

The scientists behind the reports presented their findings to Parliament’s environment, development and fisheries committees on Wednesday 6 November.

Food production and climate change a two-way street

Professor Jim Skea told MEPs climate change was exacerbating land degradation, such as erosion and pollution, which in turn affects infrastructure and people’s livelihoods. Better land management can help tackle climate change but it must be complemented by other action, he added.

Dr Jean-François Soussana noted that the food system accounts for between a fifth and a third of all greenhouse gas emissions caused by humans. At the same time, climate change affects food security through declining crops of wheat and maize. He warned that in future the stability of our food supply would decrease further as the magnitude and frequency of extreme weather events increases.

Melting ice, rising seas

According to scientists, the rise in sea level is accelerating, mainly due to the Greenland and Antarctic ice sheets melting faster.

Professor Hans-Otto Pörtner warned that in a business as usual scenario the sea level is estimated to rise about five metres by 2300. In addition, in warming oceans marine life has access to less oxygen and nutrients, putting food security at risk for communities dependent on seafood.

Pörtner added: “To minimise the severity of the impact of climate change, every bit of warming matters, each year matters, each choice matters, and most importantly, political and societal will matters.”

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