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‘Summer Davos’ To Focus on Preparing Leaders for New Era of Globalization

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More than 1,800 leaders from government, business, civil society, academia and the arts come together in Dalian next week for the World Economic Forum’s Annual Meeting of the New Champions 2019.

Themed Leadership 4.0: Succeeding in a New Era of Globalization, the meeting will spur leaders to find new strategic models to adapt to the world’s environmental challenges, regional competition, economic disparities and technological disruption.

“We are entering into a new phase of globalization which we may call Globalization 4.0. The Fourth Industrial Revolution will shape the next years of global cooperation. In Dalian at our Annual Meeting of the New Champions, we will look for solutions to ensure that our future is human-centred, inclusive, and sustainable,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

The latest game-changing technologies and China’s dynamic innovation eco-system give context to the programme’s Achieving Technology Leadership track with sessions including, Scaling up Strategic Technologies, Tech Power Play and Using 5G Responsibly.

The Sustainable Economic Leadership track includes China Economic Outlook, Going Beyond a Trade War and ASEAN Deep Dive: Youth and the Future of Jobs – against a backdrop of 60% global economic growth coming from emerging markets.

The effects of climate change are predicted to generate losses of $43 trillion between now and the end of the century and 82% of last year’s wealth went to the world’s richest 1%. The third programme track, Promoting Responsible Leadership, urges action on the need for more inclusive and sustainable economies to address these challenges. Sessions include, Climate Change: The Next Financial Crisis?, Rethinking Capitalism and How to Tax Global Business.

A fourth programme track, Fostering Agile Industry Leadership, sees business leaders and policymakers harness the disruptive power of technology to remain competitive in the Fourth Industrial Revolution. Sessions include Is Organic Growth Dead?, Smarter Industrial Policy and Accelerating the Cleantech Transition.

With 70% of all participants coming from outside Greater China, this year’s 13th Annual Meeting brings together a record number of international participants. There are over 120 countries represented, more than 25% of participants are women and there are at least 130 academic leaders from around the world.

“Over the last 13 years, the Annual Meeting of the New Champions has established itself as the leading international summit for fostering strategic cooperation between the next generation of leaders and those from diverse regions, countries and industries. This year we bring together the world’s leading innovators to develop the creative solutions and unique partnerships necessary to address the world’s shared challenges,” said David Aikman, Chief Representative Officer, China, World Economic Forum.

“2019 marks the 70th anniversary of the founding of the People’s Republic of China as well as the 40th anniversary of its engagement with the World Economic Forum. Economic globalization is an irreversible trend, of which China will continue to be a committed champion, joining hands with stakeholders to safeguard world economic openness and inclusion. China will also comprehensively strengthen its international cooperation in technology innovation and grasp new opportunities for technological revolution to promote its quality economic growth. At this Annual Meeting of the New Champions, we hope that through the sharing and exchange of views, participants from diverse communities will learn how to succeed in a new era of globalization, thus providing strong momentum for China’s quality economic growth and global well-being,” said Li Bin, Counsel, Department of International Cooperation, National Development and Reform Commission.

“This year marks the 70th anniversary of the founding of the People’s Republic of China and it is also the key year for Dalian to achieve comprehensive and all-round revitalization. The Annual Meeting of the New Champions is going to be hosted in Dalian, which will not only showcase to the world China’s developments and achievements, share China’s experiences, and present China’s solutions, but also comprehensively demonstrate the city’s spirit, operation capabilities and service standard in the new era, so as to further raise up the city’s international popularity, reputation, and openness. Dalian will be dedicated to its mission to build up the platform and provide the services, in order to ensure a wonderful and successful meeting to the world,” said Jin Guowei, Vice Mayor of Dalian Municipal Government.

To complement 200 sessions and workshops, the Annual Meeting of the New Champions provides a platform for knowledge with the publication of research reports and other announcements. These include:

  • Emerging Technologies Top Ten: The Forum’s Expert Network delivers another prescient and much-anticipated list of the breakthrough technologies most likely to change our world.
  • Technology Pioneers Class of 2019: The Forum announces the 2019 cohort of early stage companies selected for their design, development and deployment of world-changing innovations and technologies.
  • Young Scientists Class of 2019: 21 of the brightest young scientific minds join the Forum’s community of Young Scientists.
  • Incentivizing Responsible and Secure Innovation: The Forum’s Centre for Cybersecurity publishes a new assessment tool to help technology investors map areas at high risk of a cyberattack.
  • Empowering 8 Billion Minds: Mental Health for All: The Forum’s Global Future Council on Neurotechnologies highlights the role technology is now playing in helping to address mental health concerns, mapping the areas for special focus and highlighting the ethical considerations for governments, policy makers and health leaders.

Senior political leaders attending from China include Li Keqiang, Premier of the People’s Republic of China; Wang

Zhigang, Minister of Science and Technology; Hao Peng, Chairman of State-owned Assets Supervision and Administration Commission; Xiao Yaqing, Minister of State Administration for Market Regulation; Zou Zhiwu, Vice-Minister of General Administration of Customs; Tang Yijun, Governor of Liaoning Province; Xu Qin, Governor of Hebei Province.

The Co-Chairs of the meeting, who will take an active role in a number of sessions, are: Enass Abo-Hamed, Fellow, Royal Academy of Engineering, Imperial College London, United Kingdom; Flemming Besenbacher, Chairman of the Supervisory Board, Carlsberg Group, Denmark; Suphachai Chearavanont, Chief Executive Officer, CP Group, Thailand; Alain Dehaze, Chief Executive Officer, The Adecco Group, Switzerland; Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills, United Arab Emirates; Charles Li, Chief Executive, Hong Kong Exchanges and Clearing (HKEX), Hong Kong SAR, China; Ning Gaoning, Chairman, Sinochem Group, People’s Republic of China; and Sin Yin Tan, Co-Chief Executive Officer, Ping An Insurance (Group) Company of China Ltd, People’s Republic of China.

Other participants include more than 1,000 business leaders, with 100 founders and chief executive officers of the most exciting and innovative start-ups and representatives from arts and culture, academia and the media. More than 300 Social Entrepreneurs, Global Shapers and Young Global Leaders represent the Forum’s communities.

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Commission invests €1 billion in innovative clean technology projects

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The Commission is launching the first call for proposals under the Innovation Fund , one of the world’s largest programmes for the demonstration of innovative low-carbon technologies, financed by revenues from the auction of emission allowances from the EU’s Emissions Trading System. The Innovation Fund will finance breakthrough technologies for renewable energy, energy-intensive industries, energy storage, and carbon capture, use and storage. It will provide a boost to the green recovery by creating local future-proof jobs, paving the way to climate neutrality and reinforcing European technological leadership on a global scale.

Executive Vice-President Frans Timmermans said: “This call for proposals comes at just the right time. The EU will invest €1 billion in promising, market-ready projects such as clean hydrogen or other low-carbon solutions for energy-intensive industries like steel, cement and chemicals. We will also support energy storage, grid solutions, and carbon capture and storage. These large-scale investments will help restart the EU economy and create a green recovery that leads us to climate neutrality in 2050.”

For the period 2020-2030, the Innovation Fund will allocate around €10 billion from the auctioning of allowances under the EU Emissions Trading System, in addition to undisbursed revenues from the Innovation Fund’s predecessor, the NER 300 programme.

The first call will provide grant funding of €1 billion to large-scale projects for clean technologies to help them overcome the risks linked to commercialisation and large-scale demonstration. This support will help new technologies to reach the market. For promising projects which are not yet ready for market, a separate budget of €8 million is set aside for project development assistance.

The call is open for projects in eligible sectors from all EU Member States, Iceland and Norway. The funds can be used in cooperation with other public funding initiatives, such as State aid or other EU funding programmes. Projects will be evaluated according to their potential to avoid greenhouse gas emission, innovation potential, financial and technical maturity, and potential for scaling up and cost efficiency. The deadline for submission of applications  is 29 October 2020. Projects can apply via the EU Funding and Tenders portal where more details on the overall procedure are available.

Background

The Innovation Fund aims to create the right financial incentives for companies and public authorities to invest now in the next generation of low-carbon technologies and give EU companies a first-mover advantage to become global technology leaders.

The Innovation Fund will be implemented by the Executive Agency for Networks and Innovation (INEA), while the European Investment Bank will provide project development assistance to promising projects that are not ready for full application.

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Electric mobility could boost green jobs as part of the COVID-19 recovery in Latin America

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The transition to electric mobility could help Latin America and Caribbean countries to reduce emissions and fulfill their commitments under the Paris Agreement on climate change, while generating green jobs as part of their recovery plans from the COVID-19 crisis, according to a new study.

The United Nations Environment Programme (UNEP) report, “Electric Mobility 2019: Status and Opportunities for Regional Collaboration in Latin America and the Caribbean,” analyzes the latest developments in 20 countries in the region and highlights the growing leadership of cities, companies, and civil associations in promoting new e-mobility technologies.

Though still a recent development, electrification of the public transport sector is happening at high speed in several countries in the region, says the study financed by the European Commission through the EUROCLIMA + Programme and the Spanish Agency for International Development Cooperation (AECID) and renewable energy company Acciona.

Chile stands outs with the largest fleet of electric buses in the region, with more than 400 units, while Colombia is expected to incorporate almost 500 electric buses in Bogotá, its capital. Other Colombian cities, like Cali and Medellín, have join Ecuador’s Guayaquil and Brazil’s Sao Paulo in introducing electric buses.

Increased efficiency, lower operation and maintenance costs of electric buses, as well as growing public concern around the impacts of road transport-related emissions on human health and the environment are the main drivers behind this transition in public transport, according to the study.

The transport sector is responsible for 15 per cent of greenhouse gas emissions in Latin America and the Caribbean and is one of the main drivers of poor air quality in cities, which causes more than 300,000 premature deaths a year in the Americas, according to the World Health Organization.

“In recent months we have seen a reduction of air pollution in cities in the region due to lockdowns to prevent the spread of COVID-19. But these improvements are only temporary. We must undertake a structural change so that our transportation systems contribute to the sustainability of our cities,” says Leo Heileman, UNEP Regional Director in Latin America and the Caribbean.

The report calls on decision-makers to prioritize the electrification of public transport, especially when updating the old bus fleets that run through the large cities in the region. There is fear of a “technology lock-in” over the next 7 to 15 years if authorities choose to renew old fleets with new internal combustion vehicles that will continue to pollute the air and cause severe health damages.

Some countries are already paving the way to ensure a transition to sustainable transport. Chile, Colombia, Costa Rica, and Panamá have designed national strategies on electric mobility, while Argentina, Dominican Republic, México, Paraguay are finalizing their own plans, according to the report.

More than 6,000 new light-duty electric vehicles (EVs) were registered in Latin America and the Caribbean, between January 2016 and September 2019, according to the report. The need for charging infrastructure has boosted new ventures and services. For example, e-corridors, already running in Brazil, Chile, México, and Uruguay, allow users to extend the autonomy of their EVs by making use of public fast charging point networks.   

Shared mobility businesses focusing on electric bicycles and skateboards are also being developed in at least nine countries in the region.

The development of electric vehicle charging infrastructure has the potential to foster new investments and jobs, which are key to COVID-19 recovery efforts in the region. 

The report calls on governments to develop a clear medium- and long-term roadmap that provides legal certainty for private investment and highlights the role of sustainable mobility in power grid expansion plans, in line with climate commitments under the Paris Agreement.

The 2015 Agreement, signed to date by nearly 200 countries, aims to keep the global temperature rise well below 2 degrees Celsius above pre-industrial levels by the end of the century and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.

The report was produced with inputs from the Latin American Association for Sustainable Mobility (ALAMOS) and contributions from the Center for Urban Sustainability in Costa Rica.

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ADB Becomes Observer for the Network for Greening the Financial System

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The Asian Development Bank (ADB) joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as an observer on 23 June.

NGFS, launched at the Paris One Planet Summit on 12 December 2017, is a group of central banks and supervisors willing to share best practices and contribute to the development of environment and climate risk management in the financial sector, while mobilizing mainstream finance to support the transition toward a sustainable economy.

“NGFS is a valuable network to share ADB’s approaches and experience in addressing climate risk management in the financial sector,” said ADB Chief Economist Yasuyuki Sawada. “We look forward to learning from and contributing to the network as we continue our pursuit of a more green and sustainable future.”

“ADB’s operational experience in implementing climate finance targets as well as its expertise in mobilizing innovative finance to support the transition of emerging Asian countries into sustainable economies will be of great value in supporting the work of NGFS,” said NGFS Chair Frank Elderson.

ADB joins the ranks of the World Bank, the International Finance Corporation, the International Monetary Fund, and the Organisation for Economic Co-operation and Development as NGFS observers.

ADB’s inclusion to the NGFS is aligned with the goals in its corporate strategy, the Strategy 2030, particularly in tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; fostering regional cooperation and integration; and strengthening governance and institutional capacity.

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