The World Economic Forum today launches Reskilling Revolution, a multistakeholder initiative aiming to provide better education, new skills and better work to a billion people around the world by 2030.
The Reskilling Revolution platform has been designed to prepare the global workforce with the skills needed to future-proof their careers against the expected displacement of millions of jobs and skills instability as a result of technological change. It is also designed to provide businesses and economies with the skilled labour needed to fulfil the millions of new roles that will be created by the Fourth Industrial Revolution, shifts in the global economy and industrial transitions towards sustainability.
“The best way to foster a more cohesive and inclusive society is to provide everybody with a decent job and income. Here in Davos, we are creating a public-private platform to give one billion people the skills they need in the age of the Fourth Industrial Revolution. The scale and urgency of this transformation calls for nothing short of a reskilling revolution,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum.
National and industry transformation
In order to effect such systems-wide change, Reskilling Revolution will serve as a platform for connecting and coordinating individual initiatives within specific countries, industries, organizations and schools. At the country-level, the Reskilling Revolution is supported by the governments of India, Oman, Pakistan, the Russian Federation and the United Arab Emirates, which will run Closing the Skills Gap National Accelerators. In addition, the governments of Denmark and Singapore have become learning network champions. During 2020, the number of accelerators will grow to 15, beginning with Bahrain and Brazil at the Annual Meeting 2020.
Additionally, new policy instruments, new forms of financing and new rapid delivery partnerships will join this effort, serving as examples. In the US, the Government has called on companies to commit to the retraining and upskilling of its own workforce through the Pledge to America’s Workers and to date, over 415 private-sector companies have pledged more than 14.5 million career-enhancement opportunities for American workers over the next five years. France’s Mon Compte Formation is the first-of-a-kind individual skills account with an integrated mobile application dedicated to vocational training and lifelong learning. Such combined efforts of the private sector and governments can catalyse better education, skills and jobs for supporting one billion people and serve as global exemplars.
To date, over 415 private-sector companies have pledged more than 14.5 million career-enhancement opportunities for American workers over the next five years. Initiatives like these show that these combined public-private efforts can and will achieve the one billion goal.
In the private sector, a number of companies are already taking coordinated action on workforce transformations through intra- and cross-industry collaborations involving business, trade unions and the training sector. These industry accelerators include: Advanced Manufacturing; Aerospace; Aviation, Travel and Tourism; Consumer; Financial Services; Media, Entertainment and Information; Mining and Metals; Oil and Gas; and Health and Healthcare. By the end of 2020, 15 industries will be engaged.
Technological change, patterns of globalization and the green transition pose great risks to people’s livelihoods. An urgent investment in human capital is needed to revive pathways to social mobility and create a fairer world. By mobilizing industry leaders, government, international organizations, professional networking platforms, online and offline staffing firms and education and training providers, Reskilling Revolution aims to provide better jobs, education and skills to 1 billion people by 2030,” says Saadia Zahidi, Managing Director, New Economy and Society at the World Economic Forum.”
Founding partners, initiatives and coalitions to reach 250 million people
Together, founding partners’ initiatives and coalitions already signed up to Reskilling Revolution have the capability of reaching 250 million people worldwide. The Reskilling Revolution Platform will enable these coalitions and future business-led initiatives to create system-level change or to be scaled up through replication by other organizations. Founding business pledges include:
The Adecco Group aims to support 5 million workers through upskilling and reskilling globally by 2030. The Group’s General Assembly business will play a key role as a founding member of the Skills Consortium of online training and learning providers, as part of the Reskilling Revolution initiative. The Adecco Group Foundation will contribute as founding partner to the HR Valley initiative – a hub of human capital management learning.
Coursera Inc. will be a data partner and a founding member of the Skills Consortium of online training and learning providers hosted by Reskilling Revolution. It has committed to upskilling 10 million global workers by 2030 in high-demand domains of Data Science, Technology, Business and Soft skills.
Infosys is expanding computer science and maker education to K-12 students and teachers across the US, especially among under-represented communities, and will become a founding member of a Skills Consortium of online training and learning providers hosted by Reskilling Revolution.
LinkedIn will be a data partner for the Reskilling Revolution initiative.
ManpowerGroup’s MyPath is enabling hundreds of thousands of people to access high-growth roles by providing accelerated upskilling, on-the-job training and certification, transforming the role of the recruiter to become talent agents, experts in assessment, data and coaching so workers receive the guidance they need for future roles.
PwC and its New World. New Skills. programme will deploy skills to support public-private collaborations through the Reskilling Revolution. It will also help clients prepare their workforces for the digital world, upskill each of its 276,000 people and scale up its community programmes, particularly in areas where there is an acute need.
Salesforce has committed to help train 1 million people with relevant skills and reach 10 million active users on Trailhead, Salesforce’s free online learning platform, within the next five years. Through workforce development initiatives including Trailhead Military, FutureForce and the Pathfinder Program, all powered by Trailhead, anyone can skill-up to learn in-demand skills and earn credentials to land a top job in tech.
International and civil society organizations are also leveraging the Reskilling Revolution Platform to drive change and build new coalitions. This will include the United Nations Children’s Fund (UNICEF) and Generation Unlimited, a global multisector partnership created to meet the urgent need for expanded education, skill development and employment opportunities for young people aged 10-24. The Education Commission, chaired by Gordon Brown, is committing to support the Reskilling Revolution through teacher workforce, schools and education finance transformation. The NGO iamtheCODE will aim to enable ten million women and girls as coders worldwide by 2030.
The United Arab Emirates will provide seed funding to launch the Reskilling Revolution platform.
Reskilling to jobs of the future
Technological change, industry transitions and globalization are impacting jobs and the skills required within those jobs. The OECD estimates that 1.1 billion jobs are liable to be radically transformed by technology in the next decade. The World Economic Forum predicts an overall net positive between job growth and decline but also finds that skills instability with all jobs will mean that nearly half of core skills are set to change by 2022 alone. Additionally, if current trends continue, the outdated content of education will further exacerbate the skills mismatch in the future. However, with increased predictive power, it has also become easier and faster to understand the in-demand skill and jobs of tomorrow and plan human capital development accordingly.
A World Economic Forum report also released today, Jobs of Tomorrow: Mapping Opportunity in the New Economy, worked with LinkedIn, Coursera Inc. and Burning Glass Technologies to map seven emerging professional clusters and 96 fastest-growing jobs within them. They reflect that both “digital” and “human” factors are driving growth in the professions of tomorrow. The adoption of new technologies is giving rise to greater demand for green economy jobs, roles at the forefront of the data and AI economy and new roles in engineering, cloud computing and product development. On the other hand, emerging professions also reflect the continuing importance of human interaction in the new economy, giving rise to greater demand for care-economy jobs; roles in marketing, sales and content production; as well as roles at the forefront of people and culture. The growth and absolute scale of these opportunities will be determined by the choices and investments made by governments today.
What the leaders are saying
“The United States is honoured to be a leading example of when the public and private sector comes together to prioritize workers and ensure them, their families and our respective economies are prepared for the changing nature of work and the workplace. 1 billion lives will be changed by 2030 through this Reskilling Revolution and the Trump Administration, through its Pledge to America’s Workers, is excited to continue to serve as a catalyst for private-sector engagement worldwide,” said Ivanka Trump, Assistant and Adviser to the President of the United States.
“The largest generation of young people in history is about to inherit the world – and they’re facing a global learning and skills crisis. The private sector must work with governments to help close the skills gap and give young people the ladders of opportunity they need to reach their potential. The possibilities are endless and the need is urgent”, said Henrietta H. Fore, Executive Director, United Nations Children’s Fund, UNICEF
“Learning ecosystems must be updated to ensure that we are addressing the short-term challenge of skills mismatch in the current workforce and preventing the long-term challenge of future unemployment among the next generation of talent. That is why the United Arab Emirates is proud to make human capital investment a key national priority, and is delighted to be, not only a member of the Closing the Skills Gap Accelerator Network, but also a founding member of the Reskilling Revolution initiative through both public-private partnerships to close national skills gaps and through seed funding for the global platform,” said Ahmad Belhoul, Minister of State for Higher Education and Advanced Skills, United Arab Emirates
“Upskilling is one of the most urgent challenges of our time and to solve it, we need to act together, now. As a major employer in 157 countries around the world, PwC has the scale and experience to make a measurable impact. We have a responsibility to help our people, clients and communities prepare for the future but we can’t succeed on our own. As part of our upskilling efforts, we’re asking everyone to join the World Economic Forum’s Reskilling Revolution platform and us so that we can prepare everyone, everywhere for the digital world”, said Robert E. Moritz, Global Chairman, PwC.
“With new technologies and trends impacting the world of work, companies are facing genuine challenges in recruiting people with the skillsets needed to capture the opportunities ahead. Therefore, in order to equip individuals to successfully participate in the world of work and enable businesses to find the skills they need to be competitive, we must focus on upskilling and reskilling. We fully support a ‘reskilling revolution’ and pledge to upskill and reskill 5 million people globally by 2030”, said Alain Dehaze, Chief Executive Officer, The Adecco Group.
“Our research shows us that jobs emerging in the global economy span a wide range of professions and skills. They will provide opportunities for workers of all backgrounds and educational levels. But for all of the opportunities that the new economy will bring, the stark skills and gender gaps that exist today – especially in these fast-growing and emerging jobs – must be addressed now if we want to ensure that the Fourth Industrial Revolution is an equitable one”, said Allen Blue, Co-Founder and Vice-President, Products, LinkedIn
“I wish that more people, companies and societies would start to invest in skills, reskilling and lifelong learning. Because if we don’t, it will not only hamper businesses and the foundation for our economies. It could undermine our entire societal contract”, said Peter Hummelgaard, Minister for Employment of Denmark
“The global nature of the skills crisis requires institutions to collaborate at an unprecedented scale in order to provide lifelong access to high-quality learning. As part of this coalition, we are excited to work with governments, industry accelerators, and universities around the world to equip the global workforce with the skills needed to advance careers, boost employability and stimulate inclusive economic growth,” said Jeff Maggioncalda, Chief Executive Officer, Coursera Inc.
“We are excited to partner with the World Economic Forum through the Reskilling Revolution initiative. As availability of digital talent continues to be one of the greatest barriers for enterprises to transform, organizations need to nurture a culture that enables talent – across disciplines and skills – to benefit from a continuum of lifelong learning that prepares them for the future of work. We are keen to help drive the transformation”, said Salil Parekh, Chief Executive Officer and Managing Director, Infosys.
“We have to move towards a Society of Skills, placing lifelong learning, upskilling and reskilling at the core of people, businesses and governments’ interests”, said Muriel Penicaud, Minister of Labour of France
“More than half of companies around the world cannot find the skills they are looking for – almost double what it was a decade ago. And the need for a Skills Revolution – which we predicted four years ago – continues to be the defining challenge of our time. Organizations have to act differently. Creating shareholder value can only be done in conjunction with taking care of employees, customers and communities. And that includes the responsibility to help people learn new skills, adapt for future jobs and to become creators of talent”, said Jonas Prising, Chairman and Chief Executive Officer, ManpowerGroup
“We need to make sure the Fourth Industrial Revolution brings everyone along with the education and skills to succeed,” said Marc Benioff, Chairman and Co-Chief Executive Officer of Salesforce. “That’s why as part of the Reskilling Revolution, Salesforce will help train 1 million people with resume-worthy skills and reach 10 million active users on Trailhead, our free online learning platform, within the next five years.” said Marc Benioff, Chairman and Co-Chief Executive Officer Salesforce
Financing Options Key to Africa’s Transition to Sustainable Energy
A new whitepaper outlining the key considerations in setting the course for Africa’s energy future was released today at the 2021 Sustainable Development Impact Summit. The report, “Financing the Future of Energy,” outlines Africa’s electricity landscape and financing options in context with the global drive to reduce carbon emissions.
Africa’s power sector will play a central role in the transition from fossil fuel-driven power generation to a renewable-strong energy mix. According to the whitepaper written in collaboration with Deloitte, the migration to a multi-stakeholder-oriented net-zero power grid is being driven by “the 3Ds:”
- Decarbonization: moving from fossil fuel sources to renewables
- Decentralization: Shifting from centrally managed generation, transmission, and distribution to decentralized systems
- Digitalization: Leveraging digital technology to advance the transition
The report contends that new coalitions and investments with developed nations and NGOs including the World Economic Forum must coordinate and enable countries to leapfrog existing technologies and infrastructure.
“The need for digitally smarter utility platforms and sustainable development programs will guide global leaders in helping to shape equitable and inclusive recovery programs,” said Chido Munyati, Head of Africa at the World Economic Forum. “The entire continent remains vulnerable, but this whitepaper offers a view on what are viable financing options that exist today for clean energy sustainability and equitable recovery for all of Africa.
Funding will be the biggest hurdle to ensuring Africa’s sustainable transition to Renewables at scale; there are many financing solutions available,” said Mario Fernandes, Director, Africa Power Utilities and Renewables, Deloitte. “Africa’s winners will be the ones that are able to leverage what exists while creating an enabling environment for the private sector through a Renewables Energy Investment facility.”
Case studies in China and India showed that financing solutions for a clean energy transition often involve long cycles. Economic booms in these countries resulted in a significant shift in carbon emissions. Since similar economic booms are expected across Africa, the report highlights how crucial it is to anchor growth in technologies that can enable lower emissions.
While Africa’s contribution to greenhouse gas emissions from fossil fuel significantly lags behind those of other continents, it still carries a huge potential to accelerate the transition to a net-zero future. Currently, half of the continent lives without adequate access to electricity. As energy demands increase, the energy gap could be bridged through clean energy alternatives, if the financing solutions are employed now.
Action on Trade is Necessary for Businesses to Unlock Net Zero Targets
For businesses to reach their emission targets, the global trading system needs to adapt, and businesses are calling for the change.
These are the main findings of the Delivering a Climate Trade Agenda: Industry Insights Report released today by the World Economic Forum, in collaboration with Clifford Chance.
The six-month study is based on research and interviews with global companies, across sectors including transport, energy, manufacturing, and consumer goods. The objective of the research process was to identify necessary changes to the current global trade system and how to better incentivize and accelerate decarbonization. The resulting study outlines eight key actions that, if taken by governments and businesses, could make global trade a better enabler of climate action.
Sean Doherty, Head of International Trade and Investment said: “Traditionally, trade and climate policy-making has happened in separate silos. The urgency of the climate crisis calls for us to break down these silos through public-private cooperation in order to accelerate emissions reductions while achieving prosperity for all. The good news for policy makers is businesses are ready and willing to support this change.”
Jessica Gladstone, Partner at Clifford Chance said: “International trade will play a key role in achieving a just transition to a low-carbon sustainable global economy. Businesses stand ready to lead in this transition, but governments can support by ensuring the right legislative and regulatory structures are in place. Our report explores global and domestic policy actions that can create climate-friendly trade that is fair, transparent, and has technology and innovation at its core.”
Interviews revealed the following ways for trade to support businesses to decarbonize and grow sustainably:
- Tariff reductions on key goods
- Addressing non-tariff distortions in parallel
- Phasing out fossil fuel subsidies
- Building coherence around carbon-based trade policies
- Supporting trade in digital and climate-related services
- Encouraging climate-smart agriculture
- Aligning trade agreements with climate commitments
- Facilitating green investment
The chart below provides examples of how the global trading system can through continued dialogue between governments and the private sector put trade to the service of climate action.
The report includes a jointly-authored foreword by the World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala and the United Nations Framework Convention on Climate Change (UNFCCC) Executive Secretary welcoming the insights from business. Major intergovernmental meetings will be held under both organisations in the last quarter of this year.
Business can take steps to encourage alignment of trade rules with climate action. The Forum is today launching a two-year work programme – titled Climate Trade Zero – to support public and private exchange on these issues as part of building a more sustainable trading system.
Many companies also recognized that the transition is taking place at different speeds and levels of intensity across countries and sectors. Interviewees highlighted the importance of providing support and incentives to developing countries, and to supply chain partners in developing countries, to undertake the investments necessary to reduce their emissions.
Appliance standards and labelling is highly effective at reducing energy use
Policies that introduce minimum efficiency performance standards and energy-consumption labelling on appliances and equipment have led to reduced power consumption, lower carbon emissions, and cost savings for consumers, according to analysis published today by the IEA and the 4E Technology Collaboration Programme (4E TCP).
The report’s findings are drawn from nearly 400 evaluation studies covering 100 countries, including those with the longest running and strongest appliance policies, such as China, European Union, Japan and the United States.
“The findings from the study are important as they provide evidence that standards and labelling are highly effective policy instruments that bring benefits to consumers as well as lower emissions and lower energy demand,” said Brian Motherway, the Head of Energy Efficiency at the IEA.
The study shows the policies have had significant positive impacts:
- In countries with long-running policies, appliances are now typically consuming 30% less energy than they would have done otherwise.
- In the nine countries/regions for which data were available, such programmes reduced annual electricity consumption by a total of around 1 580 terawatt-hours in 2018 – similar to the total electricity generation of wind and solar energy in those countries.
- The programmes that have been operating the longest, such as those in the United States and the European Union, are estimated to deliver annual reductions of around 15% of their current total national electricity consumption. This percentage increases each year as more of the older, less-efficient stock is replaced with equipment that meets new higher efficiency standards.
- These energy savings represent a significant financial boon for businesses and householders. In the United States alone, utility customers are now economising USD 60 billion each year, or USD 320 per customer.
- Also, the United States, European Union and China together are avoiding annual CO2 emissions of more than 700 million tonnes, equivalent to the total energy-related emissions of Germany.
- Well-designed policies encourage product innovation and lead to economies of scale, which reduces the cost of appliances even without accounting for the efficiency gains. For example, in Australia the sticker price of appliances has typically fallen 40% over the last 20 years, while average energy consumption has fallen by a third.
“The message is simple: expanding standards and energy efficiency labelling programmes makes the energy transition challenge easier, more affordable and become a reality,” said Jamie Hulan, the Chair of the 4E TCP.
The IEA will continue to collaborate with 4E TCP to enhance and promote the use of such policies. 4E TCP is an international platform for fourteen countries and the European Union to exchange technical and policy information focused on increasing the production and trade in efficient end-use equipment.
Ahead of this November’s COP26 Climate Change Conference, the IEA is working with the UK Government via the Super-Efficient Equipment and Appliance Deployment (SEAD) initiative to coordinate and improve international action on product energy efficiency. The United Kingdom is leading the COP26 Product Efficiency Call to Action, which aims to double the efficiency of key global products by 2030, initially focusing on four key energy-consuming products: air conditioners, refrigerators, lighting and industrial motors systems. The IEA is supporting the implementation of this work and helping expand the number of countries ready to make this commitment.
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