An analysis of Fortune 500 companies over the past decade says it all – the companies that failed to adapt to perpetual change and disruption were the ones left behind.
“I would argue that the most successful companies in the world are those that are investing the most in innovation,” observed Betsy Ziegler, Chief Executive Officer, 1871, USA. “There is lots of evidence to suggest that companies should be investing more and working more quickly, embracing the rate of change and level of ambiguity and complexity that we are all experiencing.”
Addressing business and political leaders at the Annual Meeting of the New Champions in Tianjin, Ziegler explained that of the companies on the Fortune 500 list, half of them have turned over since 2000, while the average duration on the list is 15 years – versus 60 years just a decade ago.
The meeting, which carries the theme “Shaping Innovative Societies in the Fourth Industrial Revolution”, has generated buzz and speculation about the essential elements required for creating the innovative societies of the future. The consensus is that adaptive education, investment in R&D and nurturing talent pools of up-and-coming entrepreneurs are among the essential elements.
“At least 26 universities across China have established AI institutes to train AI talent and this is necessary, but far from enough,” noted Gong Ke, Executive President, Nankai University, People’s Republic of China. China’s vision of creating its own version of Silicon Valley through its Bay Area plan, an initiative that spans from tech hubs on mainland China to Hong Kong and Macao, he argued, will only be achieved with more investment in education.
Preparing for the future we will inherit, one where millions of jobs will be disrupted by new technologies, such as autonomous vehicles and cashier-less retail outlets, will require significant shifts in the education and research space, agreed Ziegler. “Education is farthest behind…Classrooms look exactly like they did 100 years ago.”
Among the transformations taking place, envision leaders in China, will be an evolving geo-innovation landscape. “If you want to create an app you can do it from any city,” remarked Chen Zhang, Chief Technology Officer, JD.COM, People’s Republic of China, “In the US they have small tech hubs. China’s Silicon Valley will be in cities such as Beijing, Shenzhen and Guangdong. Other cities are rising because the threshold is getting lower.”
Emphasizing that fostering innovation environments “takes a village” from nurturing talent pools, adapting educational institutes and developing a supporting policy framework, business and academic leaders agreed there has to be room for innovative mind-sets, the space to experiment, and fail, before future gains can be achieved.
“If you are an entrepreneur you measure the success of your day on how many times you have failed before lunch or dinner. You are always trying new things, testing things and you are going to lose more often than you are going to win, until you figure it out,” said Abbosh.
The best companies are always looking to stay ahead of the curve through investing heavily in innovation.
“Look at Amazon for example,” explained Abbosh, “They run 1,000 experiments a year and they have an agreement with their investors that allows them to spend at a certain rate and it is just incredible. It means they are constantly innovating and finding new markets.”
Yemen talks: Truce agreed over key port city of Hudaydah
The announcement of a ceasefire between Yemen’s warring parties in and around the key port of Hudaydah, was hailed by UN Secretary-General António Guterres on Thursday as a deal which would improve the lives of millions of people.
Speaking on the last day of UN-led talks in Sweden to decide the future of the war-torn country, where its people are in the grip of the world’s worst humanitarian crisis, Mr. Guterres told those present that they had “the future of Yemen” in their hands.
“You have reached an agreement on Hudaydah port and city, which will see a mutual re-deployment of forces from the port and the city, and the establishment of a Governorate-wide ceasefire,” he said, noting that the UN would play “a leading role” in the port.
“This will facilitate the humanitarian access and the flow of goods to the civilian population. It will improve the living conditions for millions of Yemenis,” he insisted.
Nearly four years after fighting escalated between the Government of Yemen and Houthi opposition movement, known officially as Ansar Allah, more than 24 million people – three-quarters of the population – need some form of assistance and protection.
Some 20 million are food insecure and 10 million of these people do not know how they will obtain their next meal.
While noting that “pending issues” have yet to be resolved, the UN chief said that representatives from the internationally-recognised Government of Yemen and the opposition had made “real progress” which had yielded “several important results”.
These included a “mutual understanding to ease the situation in Taizz”, Mr Guterres said, in reference to the country’s third largest city.
“We hope this will lead to the opening of humanitarian corridors and the facilitation of demining,” he added.
On the previously-agreed issue of a mass exchange of prisoners, the UN Secretary-General noted that both delegations had drawn up a timeline and provided further details on when it might happen.
This would allow “thousands – I repeat, thousands – of Yemenis to be reunited with their families,” Mr Guterres said, with UN Special Envoy for Yemen, Martin Griffiths, at his side.
Breakthrough over talks framework
Looking ahead to a new meeting between both parties in the new year, the UN chief insisted that another “very important step for the peace process” had been agreed, namely a willingness to discuss a framework for negotiations.
“You have agreed to meet again to continue to discuss this further at the end of January during the next round of negotiations,” Mr. Guterres said, adding that it was a “critical element” of a future political settlement to end the conflict.
“We have a better understanding of the positions of the parties,” he added, noting their “constructive engagement”, while also crediting the Governments of Saudi Arabia, Oman and Kuwait for their “concrete support” in making the meeting happen.
Welcoming the announcement on the Hudaydah ceasefire, the World Food Programme (WFP) underlined that the Red Sea port was “key” to importing some 70 per cent of Yemen’s humanitarian and 90 per cent of its commercial needs.
“Any progress towards peace is good progress, as long as it helps the Yemeni people who have suffered so much in this conflict,” said WFP Executive Director David Beasley, noting that what Yemen needed most was lasting peace.
“Today’s announcement gives us hope that the World Food Programme’s work to feed 12 million severely hungry Yemenis may be made easier in the coming weeks and months.”
Owing to the conflict, in recent weeks imports have decreased by about half at Hudaydah’s docks, WFP spokesperson Herve Verhoosel said.
“In November, our target in Hodeidah Governorate was to reach 800 000 people in need of food assistance. This ceasefire will of course help us in our daily activities as the region is one of WFPs priorities.”
Innovation: key to solving climate change and promoting prosperity
In the recently launched landmark report of the UN’s Intergovernmental Panel on Climate Change, the world’s leading scientists warned that we only have 12 years to prevent the global environmental catastrophe caused by irreversible climate change. This will require rapid and far-reaching climate action in all sectors, including energy, industry, buildings, transport, agriculture and cities.
While industry is one of the largest sources of greenhouse gas emissions, accounting for nearly one third of total global emissions, it is also a leading provider of climate technology solutions and green jobs.
As the UN’s specialized agency promoting industrial development for poverty reduction, inclusive globalization and environmental sustainability, the United Nations Industrial Development Organization (UNIDO) is committed to enabling a paradigm shift in industrialization in developing countries as a means to build low-emission climate-resilient societies.
Speaking at the UN Climate Change Conference (COP24), UNIDO Director General LI Yong said, “Innovation is key to addressing climate change and promoting economic and social prosperity.”
UNIDO is currently implementing over 400 projects, which directly contribute to achieving the targets and goals set by both the Paris Agreement and the 2030 Agenda for Sustainable Development. To enhance knowledge sharing and demonstrate proven and effective solutions for replication and scaling up, UNIDO showcased some of these projects during COP24 side events.
For instance, the UNIDO-GEF Global Cleantech Innovation Programme, which supports small and medium-sized enterprises and entrepreneurs in developing innovative climate and clean energy solutions as profitable business models, prominently featured in multiple technology-related side events.
UNIDO also presented its clean cooking fuels initiative, which promotes the production of biofuels in developing countries, as well as the manufacturing of the stoves on an industrial scale.
A dedicated side event marked the fifth anniversary of the Climate Technology Centre and Network (CTCN), the implementing arm of the UNFCCC Technology Mechanism. Hosted by UNIDO and UN Environment, the CTCN promotes the accelerated transfer of environmentally sound technologies for mitigation and adaptation action in developing countries.
New ADB Platform to Help Boost Financing for Climate Action
The Asian Development Bank (ADB) has launched a new platform aimed at helping its developing member countries in Asia and the Pacific mobilize funding to meet their goals under the Paris Agreement.
The NDC Advance platform will help countries mobilize finance to implement Nationally Determined Contributions (NDCs) regarding greenhouse gas emissions that each country has voluntarily committed to under the Paris Agreement. NDCs also describe priority actions for countries to adapt to climate change.
The announcement was made at the 24th Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP24) in Katowice, Poland, which is aiming to finalize a rulebook for the Paris Agreement when it goes into effect on 1 January 2020.
The agreement aims to limit the increase in the global average temperature to below 2°C, while aiming for 1.5°C.
“Through their NDCs, our developing member countries have made ambitious commitments to respond to climate change,” said ADB Vice-President for Knowledge Management and Sustainable Development Mr. Bambang Susantono. “We need to ensure that countries are able to mobilize the needed financing to deliver on their commitments. NDC Advance will help countries devise investment plans to tap financing from a variety of sources and to implement priority projects effectively.”
NDC Advance is funded through a $4.55 million grant from ADB and will have three aims: providing technical assistance that helps countries better engage with potential sources of climate finance and to make use of innovative finance mechanisms; identifying and prioritizing climate projects; and supporting countries in tracking how projects deliver against their NDC goals.
The new initiative will help propel the climate actions ADB has committed to under its Strategy 2030 program.
ADB earlier this year committed to ensuring that 75% of its operations will support climate change mitigation and adaptation by 2030, while providing cumulative climate financing of $80 billion from its own sources between 2019 and 2030.
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