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World Economic Forum Spurs Impact Through Stakeholder Responsibility

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The 50th World Economic Forum Annual Meeting closed on Friday, a historic meeting bringing all stakeholders together to shape a cohesive and sustainable world. This milestone Annual Meeting has been truly remarkable because of progress made on a spectrum of issues, where public-private collaboration is crucial.

Cohesive World

On Inclusive Growth

The International Business Council, incorporating 140 of the world’s largest companies, agreed to support efforts to develop a core set of common metrics and disclosures that can be used to measure private-sector progress on key environmental, social and governance (ESG) goals.

The Forum became a founding partner last week, alongside Refinitiv, and the United Nations of The Future of Sustainable Data Alliance. The alliance focuses on improving the quality of climate and environmental data for companies and investors.

The Davos Friends of Africa Growth Platform was launched with the support of the Presidents of Botswana and Ghana to promote entrepreneurship in Africa. The platform’s initial target is to reach 1 million entrepreneurs by the end of 2020.

A strategic partnership was signed between the World Economic Forum and the OECD to accelerate progress towards inclusive and sustainable growth globally.

42 organizations, including businesses from the mining, automotive, chemical and energy sectors, that have a combined revenue of a trillion dollars, agreed on 10 guiding principles to reinforce environmental stewardship, sustainable development and respect for human rights in the global battery value chain.

On Skills and Work

The Reskilling Revolution was launched to provide better education, skills and jobs to a billion people by 2030 with the initial backing of the governments of Brazil, France, India, Pakistan, the Russian Federation, UAE and the US as well as many important companies.

Six leading platform companies became founding signatories of the Forum’s Charter of Principles for Good Platform Work.

The Partnership for Global LGBTI Equality, which was launched in Davos last year to accelerate inclusion for LGBTI people, announced it has grown its membership to 15 international businesses.

On “Saving Lives”

CEPI, the Coalition for Epidemic Preparedness Innovations that was launched in Davos in 2017, today announced the initiation of three programmes to develop vaccines against the novel coronavirus, nCoV-2019 in partnership with Moderna and the Wellcome Trust.

The World Economic Forum announced a partnership with the Global CEO Initiative (CEOi) to form a coalition to accelerate treatments for Alzheimer’s disease.

The Forum initiated Ending Workplace Tuberculosis, a multisector initiative aimed at tapping into the business community to help stop TB in countries disproportionately by the disease.

On Trade

Ministers in Davos announced negotiations between 99 economies on a new international agreement on investment facilitation at the World Trade Organization. The agreement aims to make it easier for investment to flow between economies while increasing its development impact.

As the US and France agreed a détente on digital taxation during the Annual Meeting, the Forum received a mandate from multistakeholder partners to further build understanding of and encourage input into international tax reforms.

The Forum partnered with the Japanese government to launch a multistakeholder effort to find practical mechanisms to enable “Data Free Flow with Trust” in support of the Osaka Track process that was initiated at the G20 in 2019.

On Civil Society

The Schwab Foundation for Social Entrepreneurship announced that its community has improved the lives of more than 622 million people in 190 countries since 2000. Examples of impact include: distributing $6.7 billion in loans or value of products and services; mitigating more than 192 million tonnes of CO2; improving education for more than 226 million children and youth; improving energy access for more than 100 million people; and driving social inclusion for over 25 million people.

Sustainable World

On Combating Climate Change

1t.org, a new multistakeholder effort to support efforts to grow, conserve and restore 1 trillion trees by the end of the decade was announced. Within the first days of its launch, Colombia announced to plant 180 million trees by 2022, Salesforce committed to plant 100 million trees and Pakistan said it will plant 2 billion trees. Additionally, 1T was supported by the US, China and Saudi Arabia as part of its G20 Presidency. The Forum’s network of Global Shapers also committed to planting one million trees by 2021 across its 400 hubs worldwide.

New members signed up to the Forum’s community of CEO Climate Leaders. The community is committed to helping companies meet the Paris Climate Goals.

The Sustainable Markets Initiative, backed by a Sustainable Markets Council, was launched by HRH The Prince of Wales in collaboration with the Forum with the goal of bringing about a transition to sustainable financial markets and rapid industry decarbonization.

The Net Zero Asset Owner Alliance of 16 pension funds and insurers, committed to helping achieve the Paris Climate Goals, added the Church of England and Generali as new members. The Alliance’s portfolio now stands at $4.3 trillion.

The Forum’s Advanced Manufacturing and Production community launched the Carbon Reduction in Manufacturing Initiative to achieve a goal of cutting carbon emissions in manufacturing by 50% by 2030.

On the SDGs

Frontier 2030 was launched as a platform to leverage the technologies of the Fourth Industrial Revolution to accelerate the SDGs. The platform is led by UNDP in partnership with the governments of Botswana, South Korea and Norway, and private sector commitment from a range of companies.

The Food Action Alliance was launched by the Forum, the International Fund for Agricultural Development (IFAD) and over 20 global leaders to strengthen the sustainability of the world’s foods systems through better nutrition, climate adaption and access to finance.

A new multistakeholder partnership, SDG500, was launched to mobilize $500 million towards achieving the SDGs in emerging markets through a series of six blended finance funds.

A Cohesive and Sustainable Fourth Industrial Revolution

On Emerging Technologies

The Forum partnered with a community of 40 central banks, international organizations, academic researchers and financial institutions to create a framework to help central banks evaluate, design and potentially deploy Central Bank Digital Currency (CBDC).

The Forum, in collaboration with 100 stakeholders, produced the Empowering AI Toolkit to help board members better understand the positive and negative implications of deploying artificial intelligence.

Partners of the Centre for the Fourth Industrial Revolution Global Network, including Brazil, Colombia, Japan and Saudi Arabia, expanded their commitment to ensuring responsible and ethical governance of smart city technologies through the G20 Global Smart Cities Alliance on Technology Governance, led by the World Economic Forum.

The World Economic Forum’s Global AI Council, launched in 2019, collaborated with UNICEF to create guidelines for AI-supported toys for the under sevens, as well as identifying young people under the age of 18 to sit on a Global AI Youth Council.

On Cybersecurity

A group of private-sector leaders from major cybersecurity companies, services providers and global corporations along with leading law enforcement agencies, Interpol and Europol, agreed to work together with the Forum through 2020 to foster a global public-private alliance against cybercrime.

A group of telecommunications stakeholders endorsed new principles combatting high-volume cyberattacks that could protect up to 1 billion consumers in 180 countries.

A community of key stakeholders from international organizations, government and business was formed to reinforce cyber resilience in global aviation.

The theme of the 50th Annual Meeting, “Stakeholders for a Cohesive and Sustainable World”, could not be more relevant. The moral imperative that weighs upon us to be custodians of the planet for the sake of the next generation implies that we must act today. As the Forum celebrates its 50th anniversary, it looks ahead rather than backwards, to improve the state of the World for the next 50 years, by continuing to offer its platform to advance the common interest.

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Environment

Norwegian scientists finally find good news from Norilsk Nickel

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The state of the environment in the border areas is the main topic of the «Pasvikseminaret 2021», organized by the public administrator in Troms county and Finnmark in cooperation with the municipality of Sør-Varanger municipality.

The purpose of the annual Pasvik seminar is to provide the local population and local politicians all information about the environmental situation in the border area Norway – Russia. Program focused on pollution from the Nickel Plant and monitoring of the environment in the border area.

The activities of Norilsk Nickel have been the main focus of the workshop for many years.

For the first time in many years, Norwegian scientists have found only positive news from Russia.

Tore Flatlandsmo Berglen, a researcher at the Norwegian Institute for Atmospheric Research (NILU), noted a significant improvement in air quality in the border area. Berglen remembered the 70-80s of the last century, when one of the divisions of Norilsk Nickel “Pechenganikel” annually emitted 400 thousand tons of sulfur dioxide into the atmosphere, in the 90s this figure dropped to 100 thousand tons. After the closure plant in Nikel in December 2020, the content of sulfur dioxide and heavy metals in the atmosphere at the border between Norway and the Murmansk region meets all international requirements.

“And I know that these emissions from the Kola MMC will continue to decline. Compared to 2015, this figure will be 85 percent. This is very positive news. Air quality issues are being addressed in the right direction. We have been talking about this for many years and finally the problem has been resolved, emissions significantly reduced. This is the most excellent presentation I have ever make! ” – said Tore Berglen.

Earlier it was reported that Russia’s Norilsk Nickel, the world’s largest producer of nickel and palladium, closed its smelter in the city of Nickel in northern Russia at the end of 2020. Kola is a subsidiary of Norilsk Nickel on the Kola Peninsula with mines, processing plants and pellets in Zapolyarny, as well as metallurgical plants in Monchegorsk and a plant in Nikel, which closed at the end of December 2020.

The Norwegian environmentalists who participated in the workshop also noticed positive changes.

“The smelter is closed and Norilsk Nickel is working hard to become a ‘green’ metallurgical company – it reduces emissions, uses advanced technology and cooperates with Pasvik nature reserve which is our good partner in Russia. Today, a lot of interesting things are happening in the border areas. We have many common interests and there is a certain key to ensuring that everything works out for us – this is good coordination, cooperation, a large knowledge base,” said the representative of the environmental center NIBIO Svanhovd.

Other studies examining water resources, fish, berries, also prove that nature in the border area is recovering. All this testifies to the work of ecologists who care about the environment.

“We see examples of what has already been done. And this allows us to plan with confidence our future joint work, projects,” says senior adviser representative Anne Fløgstad Smeland at the county governor in Finnmark.

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Energy News

World Adds Record New Renewable Energy Capacity in 2020

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Global renewable energy capacity additions in 2020 beat earlier estimates and all previous records despite the economic slowdown that resulted from the COVID-19 pandemic. According to data released today by the International Renewable Energy Agency (IRENA) the world added more than 260 gigawatts (GW) of renewable energy capacity last year, exceeding expansion in 2019 by close to 50 per cent.

IRENA’s annual Renewable Capacity Statistics 2021 shows that renewable energy’s share of all new generating capacity rose considerably for the second year in a row. More than 80 per cent of all new electricity capacity added last year was renewable, with solar and wind accounting for 91 per cent of new renewables.

Renewables’ rising share of the total is partly attributable to net decommissioning of fossil fuel power generation in Europe, North America and for the first time across Eurasia (Armenia, Azerbaijan, Georgia, Russian Federation and Turkey). Total fossil fuel additions fell to 60 GW in 2020 from 64 GW the previous year highlighting a continued downward trend of fossil fuel expansion.

“These numbers tell a remarkable story of resilience and hope. Despite the challenges and the uncertainty of 2020, renewable energy emerged as a source of undeniable optimism for a better, more equitable, resilient, clean and just future,” said IRENA Director-General Francesco La Camera. “The great reset offered a moment of reflection and chance to align our trajectory with the path to inclusive prosperity, and there are signs we are grasping it.

“Despite the difficult period, as we predicted, 2020 marks the start of the decade of renewables,” continued Mr. La Camera. “Costs are falling, clean tech markets are growing and never before have the benefits of the energy transition been so clear. This trend is unstoppable, but as the review of our World Energy Transitions Outlook highlights, there is a huge amount to be done. Our 1.5 degree outlook shows significant planned energy investments must be redirected to support the transition if we are to achieve 2050 goals. In this critical decade of action, the international community must look to this trend as a source of inspiration to go further,” he concluded.

The 10.3 per cent rise in installed capacity represents expansion that beats long-term trends of more modest growth year on year. At the end of 2020, global renewable generation capacity amounted to 2 799 GW with hydropower still accounting for the largest share (1 211 GW) although solar and wind are catching up fast. The two variable sources of renewables dominated capacity expansion in 2020 with 127 GW and 111 GW of new installations for solar and wind respectively.

China and the United States of America were the two outstanding growth markets from 2020. China, already the world’s largest market for renewables added 136 GW last year with the bulk coming from 72 GW of wind and 49 GW of solar.  The United States of America installed 29 GW of renewables last year, nearly 80 per cent more than in 2019, including 15 GW of solar and around 14 GW of wind. Africa continued to expand steadily with an increase of 2.6 GW, slightly more than in 2019, while Oceania remained the fastest growing region (+18.4%), although its share of global capacity is small and almost all expansion occurred in Australia.

Highlights by technology:

Hydropower: Growth in hydro recovered in 2020, with the commissioning of several large projects delayed in 2019. China added 12 GW of capacity, followed by Turkey with 2.5 GW.

Wind energy: Wind expansion almost doubled in 2020 compared to 2019 (111 GW compared to 58 GW last year). China added 72 GW of new capacity, followed by the United States of America (14 GW). Ten other countries increased wind capacity by more than 1 GW in 2020. Offshore wind increased to reach around 5% of total wind capacity in 2020.

Solar energy: Total solar capacity has now reached about the same level as wind capacity thanks largely to expansion in Asia (78 GW) in 2020. Major capacity increases in China (49 GW) and Viet Nam (11 GW). Japan also added over 5 GW and India and Republic of Korea both expanded solar capacity by more than 4 GW. The United States of America added 15 GW.

Bioenergy: Net capacity expansion fell by half in 2020 (2.5 GW compared to 6.4 GW in 2019). Bioenergy capacity in China expanded by over 2 GW. Europe the only other region with significant expansion in 2020, adding 1.2 GW of bioenergy capacity, a similar to 2019.

Geothermal energy: Very little capacity added in 2020. Turkey increased capacity by 99 MW and small expansions occurred in New Zealand, the United States of America and Italy.

Off-grid electricity: Off-grid capacity grew by 365 MW in 2020 (2%) to reach 10.6 GW. Solar expanded by 250 MW to reach 4.3 GW and hydro remained almost unchanged at about 1.8 GW.

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Environment

New project to help 30 developing countries tackle marine litter scourge

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Litter is removed from a beach in Watamu in Kenya. UNEP/Duncan Moore

A UN-backed initiative aims to turn the tide on marine litter, in line with the global development goal on conserving and sustainably using the oceans, seas and marine resources. 

The GloLitter Partnerships Project will support  30 developing countries in preventing and reducing marine litter from the maritime transport and fisheries sectors, which includes plastic litter such as lost or discarded fishing gear. 

The project was launched on Thursday by the Food and Agriculture Organization (FAO) and the International Maritime Organization (IMO), with initial funding from Norway. 

Protecting oceans and livelihoods 

“Plastic litter has a devastating impact on marine life and human health”, said Manuel Barange, FAO’s Director of Fisheries and Aquaculture.  “This initiative is an important step in tackling the issue and will help protect the ocean ecosystem as well as the livelihoods of those who depend on it.” 

Protecting the marine environment is the objective of Sustainable Development Goal 14, part of the 2030 Agenda to create a more just and equitable future for all people and the planet. 

The GloLitter project will help countries apply best practices for the prevention and reduction of marine plastic litter, in an effort to safeguard the world’s coastal and marine resources. 

Actions will include encouraging fishing gear to be marked so that it can be traced if lost or discarded at sea. Another focus will be on the availability and adequacy of port reception facilities and their connection to national waste management systems.  

“Marine litter is a scourge on the oceans and on the planet”, said Jose Matheickal, Head of the IMO’s Department for Partnerships and Projects. “I am delighted that we have more than 30 countries committed to this initiative and working with IMO and FAO to address this issue.” 

Five regions represented 

The nations taking part in the GloLitter project are in Asia, Africa, the Caribbean, Latin America and the Pacific. 

They will also receive technical assistance and training, as well as guidance documents and other tools to help enforce existing regulations. 

The project will promote compliance with relevant international instruments, including the Voluntary Guidelines for the Marking of Fishing Gear, and the International Convention for the Prevention of Pollution from Ships (MARPOL), which contains regulations against discharging plastics into the sea.

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