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Inclusive Globalization Must Work for All

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A more human-centred globalization is critical for our shared prosperity and sustainable future, agreed a roster of young panellists in the opening plenary of the World Economic Forum Annual Meeting 2019 in Davos-Klosters, Switzerland.

“We want to be future-oriented, and not just absorbed by crisis management,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, welcoming participants in his opening remarks, after a video presentation showcasing the polarities of globalization, from megacities to refugee camps, classrooms to space.

“Globalization is a fact,” underlined Schwab, but is distinct from globalism, the philosophy with which we promote globalization. “The World Economic Forum has never stood for unfettered globalism. We feel that Globalization 4.0 has to be more human-centred,” as well as more inclusive and sustainable.

He stressed the role of young social entrepreneurs and leaders in effecting this attitudinal change: “With half of the population below 27-years old, we have to listen to the young people.”

Six millennial Co-Chairs are shaping the discussion at this year’s Annual Meeting and shared their stories and insight as Global Shapers on stage.

Basima Abdulrahman started the first green building company in Iraq, designing structures to meet sustainability standards despite the dangers and destruction of ISIS. “I decided to go back to Iraq and do something positive and impactful,” said the Founder and Chief Executive Officer of KESK Green Building Consulting, calling on participants to “think collectively” beyond personal benefits, race and region.

“People are feeling that they are getting behind,” warned Juan David Aristizabal, President and Co-Founder of Colombian education non-profit Los Zúper, “and I think we can solve that. Machines are fast, but humans are creative; machines can tell us about the past, but as humans we can build the future.”

Noura Berrouba, Member of the Governing Body of the European Youth Parliament, challenged participants to imagine those outside the walls of Davos. “These are not threats; these are not problems,” she said. “These are change agents and opportunities, and if we want to create a world where we tackle our common challenges, we need to work with the people outside of these halls.”

“It’s time to be uncomfortable, and bold,” she closed. “The real success is not measured by the amount of meetings, but by the real impact on people on the ground.”

“Globalization 4.0 needs to start from localization,” commented Akira Sakano, Chair of the Board of Directors at Zero Waste Academy, who moved to a small town in Japan that commits to produce zero waste by 2020.

There are “deep-seated, systemic inequities” in the world, reminded Julia Luscombe, Director of Strategic Initiatives at sustainable food non-profit Feeding America. “We need to drive a more sustainable and equitable global architecture. That should be our priority. It’s the priority of the young people we are representing here today.”

Mohammed Hassan Mohamud decried conditions in the Kakuma refugee camp in Kenya, where he has lived for over 20 years and now works as Zonal Chairman as well as being a Global Shaper. He told participants: “As you attend the meetings and as people discuss great lofty ideas, think about those of us who are on the sidelines, watching and not asking for much, just looking for a place to call home.”

The seventh Co-Chair, Microsoft Chief Executive Officer Satya Nadella, highlighted the core need for innovation in society. “This next phase of globalization needs to deliver economic growth but deliver it such that it is equitable growth” he said. “Let’s challenge the status quo with innovation and ingenuity.”

Ueli Maurer, President of the Swiss Confederation and Federal Councillor of Finance of the Swiss Federal Department of Finance, also gave a special address, highlighting how “Globalization 4.0, the Fourth Industrial Revolution, and our day-to-day lives are all influenced by the galloping pace of new technologies.”

“Multilateralism has helped to lift hundreds of millions of people out of poverty. But today we cannot afford any more to leave people behind,” concluded Schwab in his remarks. “We need a remobilization of globalization.”

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Finance

Socially Responsible, Low-Carbon Capitalism Can Ensure ‘Job-Full’ Recovery From COVID-19

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COVID-19 has caused a jobs crisis but, if we are to recover from the pandemic, two more fundamental crises need tackling: climate change and the nature of capitalism itself. This was the view of leaders taking part in the World Economic Forum’s Jobs Reset Summit, which opened today.

“The low-carbon revolution will be a booming space for jobs,” said Alan Jope, Chief Executive Officer, Unilever, United Kingdom. Jope said he hopes the recovery from the pandemic will prove a turning point in the battle with climate change, because a greener business can drive both revenues and job creation.

According to the European Union, investments in renewable energy could create three times as many jobs as investing in fossil fuels. “One of the most dangerous mindsets in the world,” said Jope, “is to set up a false dichotomy between sustainability and economic growth.” Unilever has saved 800 million euros in sustainable sourcing, while attracting more customers through low-carbon products. A business that is trying to be responsible is a magnet for talent, he said, adding: “We see purpose as a pathway to better profits.”

Environmental and social pressures have exposed fault lines in the structure of global capitalism, which tends to perpetuate inequalities, said Ray Dalio, Founder, Co-Chairman and Co-Chief Investment Officer, Bridgewater Associates – one of the US’s leading hedge funds. “The profit-pursuing system won’t change educational disparity, for example, because profit is a self-reinforcing system,” he said, adding: “Capitalism by its nature tends to create greater wealth gaps.” Dalio pointed out that the wealthiest 40% of US citizens spend five times more money educating their children than the bottom 60%, accelerating inequalities in wealth and job opportunities. “There needs to be a coordinated effort to restructure how the machine works,” he said. Jope agreed the world needs to shift to a more “evolved model of capitalism” to create a job-full recovery. “We must change the measures of success,” he said, criticizing the preoccupation with measuring only GDP and profit.

Over half the global workforce will need to reskill in the future of work, according to the World Economic Forum. Businesses, civil society and governments all have to cooperate in reskilling their people, said Rania A. Al-Mashat, Minister of International Cooperation of Egypt. This is easier in countries such as Egypt, as its largely young population is tech-savvy. However, as well as reskilling people, governments must invest in the digital infrastructure needed to enable the new generation of technology entrepreneurs to thrive. The minister emphasized the need for building inclusive societies, pointing out that Egypt was the first country in Africa and the Middle East to launch the Forum’s Closing the Gender Gap Accelerator project, launched a year ago.

Governments have an increasingly prominent role in directing financial flows, as the world emerges from the pandemic. The rate at which governments are borrowing and central banks are printing money means that decisions on where money and credit flow are becoming increasingly political, said Dalio. Decisions on state stimulus packages, for example, will have a major impact on job creation. Dalio also hailed ESG (environmental, social and governance) investing as a “very powerful force now.” He does not have high confidence in shareholders putting social good above financial gain, he said, “but with ESG investing and with governments redirecting funds in a totally different way, it’ll happen.”

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Human Rights

ILO and IOM sign agreement to strengthen collaboration on migration governance

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image source: ILO

The International Labour Organization (ILO) and the International Organization for Migration (IOM) have signed an Agreement to create a framework for cooperation and collaboration to enhance the benefits of migration for all.

The framework includes joint support for improved migration governance, capacity building and policy coherence at national, regional and global levels. Other areas of work may also be developed.

The Agreement was signed by Guy Ryder, ILO Director-General, and António Vitorino, the IOM Director-General, on Friday 23 October, at the ILO Headquarters in Geneva.

Speaking after the signing ceremony, Ryder said: “This Agreement seals an important alliance between our two organizations. Together, we will be stronger and more effective in both fulfilling our individual mandates and in collaborating on areas that are crucial for reshaping the world of work so that it is more inclusive, equitable and sustainable.”

“The COVID-19 pandemic is having a brutal impact on economies and societies. Vulnerable groups, particularly migrant workers and their families, are being disproportionately hit. There could be no better time to reinforce our partnership and combine our strengths, so that we can help countries and our constituents build back for a better future.”

Vitorino said: “The agreement that we are signing today will help us further solidify our collaboration at the time when joint solutions are so much needed, with a pandemic that is hitting the most vulnerable the hardest. As we move towards post-pandemic recovery, we fully embrace the call to build a better world together, tapping into the added value of each partner. With ILO, we have much to co-create and we look forward to future cooperation within the broader UN family, with our partner governments, private sector and civil society.”

The new ILO-IOM Agreement builds on the agencies’ comparative advantages, expertise, and respective constituencies. By encouraging joint initiatives, the Agreement aims to strengthen international migration governance and boost cooperation, capacity building and joint advocacy to promote migrants’ rights and decent work opportunities.

By encouraging social dialogue, it will allow workers’ and employers’ organizations – who sit equally with governments in the ILO’s tripartite membership structure – to contribute to policy discussions.

A workplan will be developed in the next six months to push forward the collaboration at global, regional and country levels and, more importantly, facilitate the implementation of the Agreement in the field, where both agencies are working directly with affected populations.

It will seek to enhance the agencies joint contribution to their member states, UN country teams, and societies to achieve the goals of the 2030 Sustainable Development Agenda .

The Agreement will also allow the ILO and IOM to strengthen support for their respective constituencies in implementing the Global Compact for Safe, Orderly, and Regular Migration (GCM), and contribute to other global and regional migration policy fora and debates.

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Development

World Bank, BRAC Join Hands to Improve Road Safety in Bangladesh

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The World Bank and BRAC signed a Memorandum of Understanding to collaborate to improve road safety in Bangladesh, and at an online event today, the Honorable Minister of Road Transport and Bridges, Mr. Obaidul Quader inaugurated the program under this partnership.

The event titled ‘Road Safety Collaboration: Reducing road fatalities 50% by 2030’ also launched a Road Safety Awareness Campaign along the 48 KM Jessore-Jhenaidah corridor as part of the partnership. The campaign will complement the World Bank supported WeCARE project, which was approved in June 2020 and aims to upgrade the existing two-lane highway, Bhomra-Satkhira-Navaron, and Jahore-Jhenaidah to a safer four-lane highway. 

BRAC and the World Bank will partner together to promote safety for women in public transport systems and conduct training and skills building for drivers, including women drivers. BRAC’s driving school’s initiative ‘women behind the wheels’ trained so far about 214 women as professional drivers.

Globally, about 1.35 million people die every year in road accidents. In Bangladesh, road crashes are the fourth leading cause of death of children aged between 5 and 14, and 67 percent of victims are within the 15-49 age group.

In the event, the Honorable Minister of Road Transport and Bridges, Mr. Obaidul Quader praised the joined initiative by the World Bank and BRAC and said, “Under the leadership of Honorable Prime Minister H. E. Sheikh Hasina, Bangladesh has taken actions to achieve the Sustainable Development Goal of cutting the number of road traffic fatalities by half within the next decade. With more awareness and safer behaviors by road users, training of drivers, and better roads, Bangladesh is taking a comprehensive approach for ensuring road safety.”

He also assured that his ministry will provide full support regarding the training and employment of female drivers.

“Road safety has become an economic and development priority for any country,” said Dandan Chen, Acting Country Director for Bangladesh and Bhutan. “We are proud to be part of the government’s commitment to better road safety through a National Road Safety Program. Our partnership with BRAC will reinforce the support to the program   for improving road safety in both rural and urban areas in Bangladesh.” 

The collaboration will support exchange of knowledge and raise awareness among stakeholders to reduce fatalities and injuries from road accidents. This will help the country adopt interventions based on the Safe-System Approach, including safe roads and safe behaviors, as recommended globally.

Since 2011, under BRAC’s community road safety awareness program, over 1.2 million people have received training on the safe use of roads. In addition, 5,451 schoolteachers and 498,000 school children have received special awareness training on road safety.

“I believe this joint initiative between BRAC and the World Bank will be a big step forward to take the road safety system in the project area to a new level. With the support of the government of Bangladesh and the World Bank, we aspire to take BRAC’s community led road safety model across Bangladesh,” saidAsif Saleh, Executive Director of BRAC. “The government, development partners, non-government organizations and most importantly the citizens need to work together like this in finding more comprehensive long term systemic solutions to achieve the Sustainable Development Goal of reducing traffic fatalities by 50 per cent.”

Ahmed Najmul Hussain, Director, BRAC Road Safety Programme, said, “I believe that undertaking more such community-driven awareness initiatives for the other highways of the country such as the one to be implemented under this MoU along the Jessore-Jhenaidah highway will substantially help reduce the number of road crashes.”

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