<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246232947-820x547.jpg" alt="" class="wp-image-422539" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246232947-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246232947-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246232947-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246232947-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246232947-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246232947-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">KEYENBERG, GERMANY &#8211; JANUARY 14: Swedish climate activist Greta Thunberg joins a protest march over the pending razing of the settlement of Luetzerath on January 14, 2022 near Keyenberg, Germany. Police have been evicting environmental activists who have occupied the abandoned Luetzerath settlement and who are seeking to prevent Luetzerath&#8217;s demolition that will make way for an expansion of the adjacent Garzweiler II open cast coal mine. The North Rhine-Westphalia state government of German Christian Democrats (CDU) and Greens has approved the demolition and the coal mine expansion, while at the same time announcing an accelerated phase out of coal-fired energy production in the state from 2038 to 2030. Other nearby settlements that were also slated for demolition will now be spared, though critics point out that Germany has sufficient energy production capacity and does not need the coal lying beneath Luetzerath. (Photo by Bernd Lauter/Getty Images)</figcaption></figure>



Swedish climate activist Greta Thunberg on Thursday accused the political and business elite at the World Economic Forum in Davos, Switzerland, of prioritizing self-interest and short-term profits over people and the planet.



“We are right now in Davos where basically the people who are mostly fueling the destruction of the planet, the people who are at the very core of the climate crisis, the people who are investing in fossil fuels etcetera, etcetera and yet somehow these are the people that we seem to rely on solving our problems,” Thunberg said.



“They have proven time and time again that they are not prioritizing that. They are prioritizing self-greed, corporate greed and short-term economic profits above people and above planet,” she added.



Thunberg said it was “absurd” that the world seems to be listening to Davos delegates rather than those on the frontlines of the climate emergency.



Thunberg was released by police earlier this week after being&nbsp;detained&nbsp;alongside other climate activists for protesting the expansion of a coal mine in the tiny village of Luetzerath in western Germany.



“Yesterday I was part of a group that peacefully protested the expansion of a coal mine in Germany. We were kettled by police and then detained but were let go later that evening,” Thunberg said on Wednesday&nbsp;via Twitter. “Climate protection is not a crime,” she added.



Alongside IEA Executive Director Fatih Birol, Thunberg took part in the CNBC-moderated panel with youth climate advocates Vanessa Nakate, Helena Gualinga and Luisa Neubauer.



The four climate activists arrived in Davos having recently composed an&nbsp;open letter&nbsp;to the CEOs of fossil fuel companies through the non-profit website Avaaz. Thunberg, Nakate, Gualinga and Neubauer called on the executives of energy giants to “immediately stop” opening new oil, gas or coal extraction sites and said they intended to keep protesting in the streets in “huge numbers.”



“We know that Big Oil knew for decades that fossil fuels cause catastrophic climate change, misled the public about climate science and risks [and] deceived politicians with disinformation sowing doubt and causing delay,” the letter says.



It adds that fossil fuel executives “must end these activities as they are in direct violation of our human right to a clean, healthy, and sustainable environment, your duties of care, as well as the rights of Indigenous people.”



Failure to act immediately, the activists warn, comes at a time when citizens around the world “will consider taking any and all legal action to hold you accountable.” Nearly 900,000 people added their names to the letter as of Thursday morning.



The fossil fuel industry has sought to underline the importance of energy security amid calls for a rapid transition to renewables, typically highlighting that&nbsp;demand for fossil fuels remains high.



To be sure, the burning of fossil fuels such as coal, oil and gas, is the chief driver of the climate crisis.



<h2 class="wp-block-heading" id="h-big-oil-peddled-the-big-lie"><a></a>‘Big Oil peddled the big lie’</h2>



The climate emergency is one of the main themes for this year’s annual meeting in the Swiss Alpine town of Davos, which brings together roughly 1,500 business leaders.



Addressing delegates during a special address on Wednesday, U.N. Secretary-General Antonio Guterres&nbsp;condemned&nbsp;fossil fuel giants for ignoring their own climate science. He accused the oil and gas industry of seeking to expand production despite knowing “full well” that their business model is incompatible with human survival.



“Some in Big Oil peddled the big lie,” Guterres said. “And like the tobacco industry, those responsible must be held to account.”



Thunberg has previously excoriated the climate inaction of the world’s political and business leaders at WEF,&nbsp;saying&nbsp;in Jan. 2019, “Our house is on fire.”

Greta Thunberg Joins Luetzerath Protest

Greta Thunberg says Davos elite are prioritizing greed and short-term profits over people and the planet

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320792-820x547.jpg" alt="" class="wp-image-422532" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320792-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320792-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320792-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320792-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320792-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320792-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">DAVOS, SWITZERLAND &#8211; JANUARY 18: A general view of the World Economic Forum (WEF) as it continues with special sessions in Davos, Switzerland on January 18, 2023. (Photo by Dursun Aydemir/Anadolu Agency via Getty Images)</figcaption></figure>



European markets retreated on Thursday, tracking weaker global sentiment as investors gauge the economic outlook, a topic high on the agenda at the World Economic Forum in Davos this week.



The pan-European Stoxx 600 was down 0.6% in early trade, with oil and gas stocks shedding 1.9% to lead losses as almost all sectors and major bourses slid into the red.



CNBC will be speaking to a range of delegates at the World Economic Forum on Wednesday, including the CEOs of Enel, Merck, Rio Tinto and leaders of the Netherlands and Ireland, among many others.



The lower open in Europe comes after the Dow Jones Industrial Average tumbled more than 600 points on Wednesday as investors took profits on some of the strong January gains, and as a disappointing December retail sales reading in the U.S. raised concerns about a recession.



Shares in the Asia-Pacific traded mixed on Thursday after tracking the losses on Wall Street.

World Economic Forum

European markets fall as investor mood sours

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320969-820x547.jpg" alt="" class="wp-image-422511" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320969-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320969-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320969-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320969-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320969-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246320969-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">DAVOS, SWITZERLAND &#8211; JANUARY 18: A general view of the World Economic Forum (WEF) as it continues with special sessions in Davos, Switzerland on January 18, 2023. (Photo by Dursun Aydemir/Anadolu Agency via Getty Images)</figcaption></figure>



Davos-Klosters, Switzerland, 18 January 2023 – African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of the first of its kind report on how public-private partnerships can support the implementation of the African Continental Free Trade Area (AfCFTA).   AfCFTA: A New Era for Global Business and Investment in Africa outlines high-potential sectors, initiatives to support business and investment, operational tools to facilitate the AfCFTA, and illustrative examples from successful businesses in Africa to guide businesses in entering and expanding in this area.   The report aims to provide a pathway for global businesses and investors to understand the biggest trends, opportunities and strategies to successfully invest and achieve high returns in Africa, developing local, subregional and continental value chains and accelerating industrialization, all of which go hand in hand with the success of the AfCFTA.   The AfCFTA is the largest free trade area in the world, by area and number of participating countries. Once fully implemented, it will be the fifth-largest economy in the world, with the potential to have a combined GDP of more than $3.4 trillion. Conceived in 2018, it now has 54 national economies in Africa, could attract billions in foreign investment, boost overseas exports by a third, double intra-continental trade, raise incomes by 8% and lift 50 million people out of poverty.   To ease the pain of transition to its new single market, Africa has learned from trade liberalization in North America and Europe. “Our wide range of partners and experience can help anticipate and mitigate potential disruptions in business and production dynamics,” said Børge Brende, President, World Economic Forum. “The Forum’s initiatives will help to ease physical, capital and digital flows in Africa through stakeholder collaboration, private-public collaboration and information-sharing.”   Given the continent’s historically low foreign direct investment relative to other regions, the report highlights the sense of excitement as the AfCFTA lowers or removes barriers to trade and competitiveness. “The promising gains from an integrated African market should be a signal to investors around the world that the continent is ripe for business creation, integration and expansion,” said Chido Munyati, Head of Regional Agenda, Africa, World Economic Forum.   The report focuses on four key sectors that have a combined worth of $130 billion and represent high-potential opportunities for companies looking to invest in Africa: automotive; agriculture and agroprocessing; pharmaceuticals; and transport and logistics.   “Macro trends in the four key sectors and across Africa’s growth potential reveal tremendous opportunities for business expansion as population, income and connectivity are on the rise,” said Wamkele Mene, Secretary-General, AfCFTA Secretariat.   “These projections reveal an unprecedented opportunity for local and global businesses to invest in African countries and play a vital role in the development of crucial local and regional value chains on the continent,” said Landry Signé, Executive Director and Professor, Thunderbird School of Global Management and Co-Chair, World Economic Forum Regional Action Group for Africa.   The Forum is actively working towards implementing trade and investment tools through initiatives, such as Friends of the Africa Continental Free Trade Area, to align with the negotiation process of the AfCFTA. It identifies areas where public-private collaboration can help reduce barriers and facilitate investment from international firms.

Global CEOs Back Plan to Unlock $3.4 Trillion Potential of Africa Free Trade Area

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/weforum-820x461.jpg" alt="" class="wp-image-422507" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/weforum-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/weforum-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/weforum-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/weforum-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/weforum.jpg 1200w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



Davos-Klosters, Switzerland, 18 January 2023 – In an effort to tackle rising cybercrime levels, the World Economic Forum launched today at the Annual Meeting 2023 an initiative to map cybercriminal activities and identify joint public and private sector responses.   Building on the expertise of the Forum’s <a href="https://weforum.us3.list-manage.com/track/click?u=6308fe51b420dc9ff3834abc8&amp;id=ed970aff1c&amp;e=d635155278" target="_blank" rel="noreferrer noopener">Partnership against Cybercrime</a>, the Cybercrime Atlas initiative will provide a platform for leading cybercrime investigators, national and international law enforcement agencies, and global businesses to share knowledge, generate policy recommendations and identify opportunities for coordinated action to fight cyberthreats.   “The Cybercrime Atlas is a collaborative research initiative that gathers and collates information about the cybercriminal ecosystem and major threat actors operating today,” said Jeremy Jurgens, Managing Director, World Economic Forum. “The insights generated will help promote opportunities for greater cooperation between the private sector and law enforcement to address cybercrime.”   Cybercrime, such as the ransomware attack on Colonial Pipeline in May 2021 that caused US President Joe Biden to declare a state of emergency, is a threat to national security, public organizations and businesses of all sizes. Despite the amount of digital data collected on cybercriminal activities worldwide, the effort to fight it is often uncoordinated, disjointed and dispersed. The Cybercrime Atlas aims to map the cybercrime landscape, covering criminal operations, structures and networks.   First announced at San Francisco’s RSA Conference in June 2022, the Cybercrime Atlas has benefited from a year of pro bono analysis of 13 criminal groups by cybercrime investigators. Their approach and findings have been welcomed by law enforcement agencies.   “This initiative underlines the need for an enhanced multi-sector approach to combat the increasing cybercrime threat,” said Jürgen Stock, Secretary-General, International Criminal Police Organization (INTERPOL). “A global solution must include private sector insights to enable law enforcement to prevent, detect, investigate and disrupt cybercrime.”   The secretariat for the Cybercrime Atlas initiative will be hosted by the World Economic Forum for the next 2-3 years, with the support of Fortinet, Microsoft, PayPal and Santander, until it is sufficiently established to become an independent platform.   “The Cybercrime Atlas is an important initiative that will aid industry, law enforcement, and government agencies by providing a first-of-its-kind visibility to disrupt cybercriminals across their ecosystem and infrastructure,” said Ken Xie, Chief Executive Officer, Fortinet. “A global and unified effort will make it easier to get beyond the obstacles that shield cybercriminals.”   The Forum’s Partnership against Cybercrime initiative brings together a dedicated community to drive momentum for a public-private partnership to combat cybercrime.   “Cybercriminals work in the shadows and exploit vulnerabilities to inflict devastating attacks. The Cybercrime Atlas provides an important forum that brings the public and private sectors together to share actionable information and leverage cross-sector data, capabilities and expertise, crucial to disrupting cybercrime quickly, and at scale,” said Brad Smith, Vice-Chair and President, Microsoft.   &#8220;To mitigate and disrupt global cybercrime in today’s interconnected world, we need robust platforms to share intelligence and facilitate more meaningful institutional collaboration,” added Assaf Keren, Chief Information Security Officer and Vice-President, Enterprise Cyber Security, PayPal. “The Cybercrime Atlas represents a key next step in this work and an opportunity to unite global businesses, law enforcement and experts around concrete opportunities to protect the world’s citizens and their safety.”   “Given the global nature of cyberthreats, increasingly public-private collaboration is the best way to combat cybercrime,” said Dirk Marzluf, Group Chief Operating and Technology Officer, Banco Santander. “Organizations must look beyond their perimeter and combine efforts and resources with businesses, law enforcement and government.”

weforum

Forum-hosted Cybercrime Initiative to Boost Coordination between Private Sector and Law Enforcement

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="428" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/responsive_big_webp_3RTr8VzTuhQeqRRkAlTO-0f90NLSfzArX2-Ucr6mtn0-820x428.webp" alt="" class="wp-image-422495" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/responsive_big_webp_3RTr8VzTuhQeqRRkAlTO-0f90NLSfzArX2-Ucr6mtn0-820x428.webp 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/responsive_big_webp_3RTr8VzTuhQeqRRkAlTO-0f90NLSfzArX2-Ucr6mtn0-300x157.webp 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/responsive_big_webp_3RTr8VzTuhQeqRRkAlTO-0f90NLSfzArX2-Ucr6mtn0-160x84.webp 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/responsive_big_webp_3RTr8VzTuhQeqRRkAlTO-0f90NLSfzArX2-Ucr6mtn0-768x401.webp 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/responsive_big_webp_3RTr8VzTuhQeqRRkAlTO-0f90NLSfzArX2-Ucr6mtn0-1536x802.webp 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/responsive_big_webp_3RTr8VzTuhQeqRRkAlTO-0f90NLSfzArX2-Ucr6mtn0.webp 1600w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Climate changes to the water cycle are threatening global water security. Innovative start-ups can help solve this urgent problem. Image: Pexels</figcaption></figure>



Davos-Klosters, Switzerland, 18 January 2023&nbsp;– Securing the world’s global freshwater ecosystems, under increasing threat from climate change, population growth and consumer demand, has become more critical than ever. To tackle this escalating crisis, UpLink, the open innovation platform of the World Economic Forum, in partnership with global conglomerate HCL Group, has announced 10 water-focused entrepreneurs who will share CHF1.75 million ($1.9 million) from HCL Group to scale their innovations.



Access to water plays a critical role in food production, education, job creation, health and well-being and the preservation of the natural world and is vital to achieving the UN’s 2030 sustainability agenda. However,&nbsp;<a href="https://www.resourcepanel.org/reports/options-decoupling-economic-growth-water-use-and-water-pollution" rel="noreferrer noopener" target="_blank">global demand for water will exceed sustainable supply by 40% by 2030,</a>&nbsp;with huge implications for the&nbsp;<a href="https://www.worldbank.org/en/news/press-release/2019/08/20/worsening-water-quality-reducing-economic-growth-by-a-third-in-some-countries#:~:text=The%20report%20finds%20that%20a,key%20factor%20for%20economic%20growth" rel="noreferrer noopener" target="_blank">global economy</a>&nbsp;and society.



The 10 start-ups are the winners of the&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-issue/a002o0000173B6sAAE/global-freshwater-challenge" rel="noreferrer noopener" target="_blank">Global Freshwater Innovation Challenge</a>, the first of five challenges under HCL and UpLink’s&nbsp;<a href="https://www.weforum.org/press/2022/05/new-collaboration-seals-15-million-funding-for-entrepreneurs-to-tackle-freshwater-crisis/">Aquapreneur Innovation Initiative</a>. Launched in September 2022, the challenge called for innovative solutions that would strengthen data-driven decision making, improve freshwater resilience in the face of climate change and restore water quality around the world.



Through a&nbsp;<a>$15 million investment over five years</a>, HCL Group is supporting UpLink and&nbsp;<a href="https://initiatives.weforum.org/global-water-initiative/innovation" rel="noreferrer noopener" target="_blank">the Forum’s Global Water Initiative</a>&nbsp;to launch a series of innovation challenges and create an innovation ecosystem for the global freshwater sector on UpLink.



The 10 water-focused entrepreneurs, or “aquapreneurs”, were chosen from 227 solutions submitted to the challenge, and will now each receive CHF175,000 ($190,000) in vital funding from HCL Group. Two of these innovators were selected to present their solutions at the World Economic Forum Annual Meeting 2023 in Davos



<ul>
<li><a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pUXHFAA4/epic-cleantec-onsite-water-treatment-and-reuse">Epic Cleantec</a>, based in the US, is a water technology company leading the water reuse revolution in the urban built environment. Aaron Tartakovsky, CEO of Epic Cleantec,said: “With the combined challenges of ageing infrastructure, growing urban populations and a rapidly changing climate, the conventional approach to how we manage water is no longer sustainable. Epic is on a mission to ensure that our cities are water-secure for generations to come.” Epic aims to use its next-generation technologies to drive circularity in water use and to work with policy-makers to reshape the water infrastructure in cities.</li>



<li><a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pURnNAAW/kilimo-paying-farmers-to-save-water">Kilimo</a>, based in Argentina, uses big data and machine learning to verify, improve, and offset water usage in agriculture. Tatiana Malvasio, Co-Founder and Chief Operating Officer,said: “As founders from Latin America, we have first-hand experience with the tension between agriculture and water stress in our region. In response to this challenge, we set out to create a product that could help farmers reduce their water usage and be more efficient in their irrigation practices.” Kilimo uses artificial intelligence to help farmers optimize irrigation and then be compensated for their participation in water stewardship initiatives.</li>
</ul>



The other entrepreneurs to be awarded prize money from HCL and support from UpLink are:



1.&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pUYfCAAW/safe-water-anytime-anywhere" rel="noreferrer noopener" target="_blank">bNovate Technologies</a>&nbsp;(Switzerland) – An automatic, remote biosensor to monitor and detect bacterial concentration in water supplies



2.&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pUWbnAAG/electrically-driven-decentralized-treatment-of-water-for-reuse" rel="noreferrer noopener" target="_blank">Indra Water</a>&nbsp;(India) – Electrically driven, decentralized wastewater treatment solution with no added chemicals in its primary treatment



3.&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pURV6AAO/decentralised-and-renewable-water-source-for-arid-and-semi-arid-regions" rel="noreferrer noopener" target="_blank">Majik Water Technologies</a>&nbsp;(Kenya) – An atmospheric water generator system that uses proven condensation-based techniques to capture water moisture from the air



4.&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pUYqOAAW/aquanurch-combining-nature-intelligence-and-artificial-intelligence" rel="noreferrer noopener" target="_blank">NatureDots Private Limited</a>: AquaNurch (India) – Derisking fisheries and water managers from ecological stressors, enabling remote-control and real-time monitoring of aqua-farms



5.&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pUVTaAAO/wavepowered-sustainable-and-affordable-desalination-solutions" rel="noreferrer noopener" target="_blank">Oneka Technologies</a>&nbsp;(Canada) – A wave-powered desalination solution to produce drinking water using renewable energy created through waves



6.&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pUSY9AAO/providing-safe-water-through-microfranchising-and-engineering" rel="noreferrer noopener" target="_blank">Openversum</a>&nbsp;(Switzerland) – A locally assembled and managed membrane filter that removes pathogen heavy metals from water



7.&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pUWd5AAG/resilience-restoration-and-decision-making-propertybased-retention-and-reuse" rel="noreferrer noopener" target="_blank">RainGrid Inc.</a>&nbsp;(Canada) – Building community-scale, property-based, digital networks for net-zero residential property rainfall runoff while generating verifiable ecosystem credits



8.&nbsp;<a href="https://uplink.weforum.org/uplink/s/uplink-contribution/a012o00001pUYfqAAG/scaling-adoption-for-portable-water-filtration-device" rel="noreferrer noopener" target="_blank">Wateroam Pte Ltd</a>&nbsp;(Singapore) – Production of safe, speedy and high-quality drinking water without electricity



“We are delighted to announce the first beneficiaries of the Aquapreneur Innovation Initiative who have been selected after rigorous deliberation among a large panel of experts,” said Roshni Nadar Malhotra, Chairperson, HCLTech. “The availability of fresh water is rapidly changing worldwide, creating a tenuous future requiring attention from policy-makers, the private sector and the public alike. Having witnessed the efforts of aquapreneurs who are finding solutions to challenges around existing freshwater resources, I am positive that we are all moving in the right direction for the future of our planet. Many congratulations to the top 10 awardees.”



“These innovations are crucial to meet the increasing global demand for clean water and support the transition to a greener economy,” said Olivier Schwab, Managing Director, World Economic Forum. “With water scarcity threatening countries all around the world, it’s essential to identify and empower the innovative start-ups that will help secure access to this precious resource, now and for future generations. The Aquapreneur Innovation Initiative, launched by UpLink and HCL, will connect these world-class innovators to the resources, expertise and vital funding they need to scale and drive truly transformational change.”

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10 Entrepreneurs Share CHF 1.75 million to Tackle Global Freshwater Crisis

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Moderated by CNBC’s Geoff Cutmore, top business leaders discuss at Davos, Switzerland, the&nbsp;impact the green transition, technological advances, demographics and reorganized value chains could have on labor markets.



Joining CNBC is José María Álvarez-Pallete, chairman and CEO of Telefonica, Gilbert Fossoun Houngbo, director-general of the ILO, Martin J. Walsh, the Secretary of Labor for the U.S., Pamela Coke-Hamilton, executive director at the ITC, and Saadia Zahidi, managing director at the World Economic Forum.

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Top business leaders and policymakers discuss the future of jobs at the World Economic Forum

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179388-1673963136581-Kuna_bitcoin_car_full-820x461.jpg" alt="" class="wp-image-422486" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179388-1673963136581-Kuna_bitcoin_car_full-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179388-1673963136581-Kuna_bitcoin_car_full-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179388-1673963136581-Kuna_bitcoin_car_full-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179388-1673963136581-Kuna_bitcoin_car_full-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179388-1673963136581-Kuna_bitcoin_car_full-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179388-1673963136581-Kuna_bitcoin_car_full.jpg 1920w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The orange Mercedes was parked along the Promenade in Davos. Nobody in the vicinity saw who parked it there. The license plate says “Kuna” on it, which is the name of a Ukrainian cryptocurrency exchange. Arjun Kharpal | CNBC</figcaption></figure>



DAVOS, Switzerland — Over the past few years at the World Economic Forum in Davos, Switzerland, the number of cryptocurrency industry attendees has boomed.



But after a near $1.4 trillion wipeout in 2022, the crypto industry is being a bit more reserved with how it splashes the cash and several companies spotted last year are not in attendance. 2022 was marked by failed crypto projects, liquidity issues and bankruptcies, topped off by the collapse of major exchange FTX.



When the World Economic Forum was held last May,&nbsp;<a href="https://www.cnbc.com/quotes/BTC.CM=/">bitcoin</a>&nbsp;was hovering around $30,000, after having already fallen more than 50% from its all-time high hit in November 2021. More pain followed with bitcoin dipping as low as $15,480.



The Promenade is the main street in Davos where companies and governments take over shops and cafes for the week. Last year, crypto firms from all walks of life&nbsp;<a href="https://www.cnbc.com/2022/05/24/crypto-firms-take-over-main-street-in-davos-even-after-market-crash.html">took over the place</a>. But since the market slide, there are far fewer crypto firms with flashy store fronts at Davos.



One shop selling non-fungible tokens, or NFTs, has disappeared. Prices of NFTs, which are digital collectibles, also plunged last year. What’s left are companies that survived the bear market and that are looking to expand their businesses.



“It’s very clear that the speculation period is drawing to a close and every company that you see featured … is really focused on real-world use cases,” said Teana Baker-Taylor, vice-president of policy and regulatory strategy at Circle, the company behind the USDC stablecoin.



A stablecoin is a type of digital currency that is supposed to be pegged one-to-one with a fiat currency. USDC is pegged to the U.S. dollar. Circle says it is backed with real-world assets such as U.S. Treasurys so that one USDC can be redeemed for $1.



Casper Labs, a company that has built a blockchain designed to be used by businesses, is running a space on the Promenade called the Blockchain Lab. Casper Labs was also present last year in Davos.



Cliff Sarkin, chief of strategic relations at Casper Labs, said he’s “cautiously optimistic” that the crypto market has bottomed.



“So we’re over a year into the bear market, so I think the shock of that is settled in and for those of us that have been in the space for years … we feel like this is the time to build,” Sarkin told CNBC.



He added that the crypto firms that have remained at Davos are “substantiative projects” and “the real deals” versus things like NFTs.



There were also those in traditional finance who welcomed fewer crypto firms.



Mark Haefele, chief investment officer at UBS Global Wealth Management, was asked during an event hosted by the Swiss bank what he would like to see in Davos this year. He said he had seen it already: “It’s&nbsp;less crypto on the main street.”



<h2 class="wp-block-heading" id="h-the-mysterious-case-of-the-orange-bitcoin-car"><a></a>The mysterious case of the orange bitcoin car</h2>



On Monday, a flashy bright orange Mercedes-Benz car was parked outside of the Blockchain Hub on the Promenade.



A coin that represented a bitcoin was placed where the Mercedes-Benz logo would usually be. On the tires and the licenses plate, the words “in crypto we trust” were printed. The license plate had the Ukrainian flag on it and the name Kuna, which is the company behind a cryptocurrency exchange of the same name.



Kuna also set up the “reserve fund of Ukraine” after the war with Russia began where people could donate crypto to Ukraine.



People in the vicinity that CNBC spoke to could not verify who parked the car there.



However, two crypto executives who spoke to CNBC did not welcome the orange car, particularly after the market crash and the excesses of the industry were exposed. One remarked that the presence of such a car was not helpful for the industry’s reputation which took a hit last year.



CNBC reached out to Semen Kaploushenko, CEO of the Kuna exchange, via LinkedIn, but is yet to receive a response.



CNBC also reached out to the Blockchain Association of Ukraine which Kuna founder Michael Chobanian is the president of, but is yet to receive a response.

107179388-1673963136581-Kuna_bitcoin_car_full

$1.4 trillion wipeout hits crypto industry at Davos — except for a lone flashy orange bitcoin car

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246279791-820x547.jpg" alt="" class="wp-image-422427" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246279791-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246279791-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246279791-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246279791-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246279791-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246279791-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The logo the World Economic Forum (WEF) on a window at the Congress Center in Davos, Switzerland, on Monday, Jan. 16, 2023. The annual Davos gathering of political leaders, top executives and celebrities runs from January 16 to 20. Photographer: Stefan Wermuth/Bloomberg via Getty Images</figcaption></figure>



Davos-Klosters, 17 January 2023 –&nbsp;The Schwab Foundation for Social Entrepreneurship announced today 16 awardees for social innovation in 2023. The 2023 Social Innovators of the Year includes a list of outstanding founders and chief executive officers, multinational and regional business leaders, government leaders and recognized experts. The list includes a Nigerian entrepreneur supporting smallholder farmers increase profits and turning at-risk young people into entrepreneurs; a New York-based pioneer of “open hiring” that helps individuals facing barriers to meaningful employment by offering work with no interviews, no background checks and no resumés; and a Brazilian collective network of more than 70 organizations in 14 countries that monitors land use and change to promote the conservation and sustainable management of natural resources and fight climate change. The awardees were selected in recognition of their innovative approach and potential for global impact by Schwab Foundation Board members. The selection committee includes Helle Thorning-Schmidt, Prime Minister of Denmark (2011-2015), and social innovation expert Johanna Mair, Professor of Organization, Strategy and Leadership at the Hertie School of Governance in Germany, and H.M. Queen Mathilde of Belgium, Honorary Board Member. “The Social Innovators of the Year 2023 represent a generation of social and environmental change leaders who demonstrate that innovative models of cooperation and action across sectors are critical to making progress on the complex challenges we face,” said&nbsp;Hilde Schwab, Co-Founder and Chairperson of the Schwab Foundation for Social Entrepreneurship. This year’s World Economic Forum Annual Meeting marks the 25th anniversary of the Schwab Foundation for Social Entrepreneurship. In 1998 Hilde Schwab, together with her husband Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, created the foundation to support new models for social change, combining values and dedication with the best business principles to create a more just, sustainable and equitable world. Today, the foundation has a thriving community of over 450 global social entrepreneurs that has impacted the lives of nearly 1 billion people in 190 countries. The entrepreneurs offer access to healthcare, education, housing, finance, digital skills and advocacy networks resulting in job creation economic opportunity, improved health and stability. “Complex problems cannot be tackled by single organizations, and this year’s Schwab Foundation awardees show new models of collaborating across sectors using innovative technology, human networks and shared resources and knowledge. Many social innovators have a long history of working in collaboration with others. The ambition now is in creating systemic change through collective efforts,” said&nbsp;François Bonnici, Director of the Schwab Foundation for Social Entrepreneurship. The 2023 Schwab Foundation Awards are hosted in a long-term partnership with the&nbsp;<a href="https://www.motsepefoundation.org/">Motsepe Foundation</a>, founded on the philosophy of “Ubuntu”, the African concept of giving and caring for your neighbour and other members of your community. “Social entrepreneurs act as a bridge that connects ethics and values to our business principles. I believe these entrepreneurs are designing a blueprint for meaningful economies by re-imagining progress during these uncertain times,” said Precious Moloi-Motsepe, Co-Chair, Motsepe Foundation and Chancellor of the University of Cape Town. The 2023 awardees are awarded across four categories: Social entrepreneurs Pioneering systemic solutions for social and environmental challenges ranging from refugee family reunification and human rights to water infrastructure and financial inclusion.



<ul>
<li>Ady Beitler, CEO, Nilus (Argentina)&nbsp;– leads the Argentinian social enterprise that uses technology and sharing economy models to reduce food loss and waste. His organization&#8217;s mission is to alleviate hunger by lowering the cost of healthy food for those on low incomes – a goal it achieves by rescuing food that would otherwise be wasted and distributing it at discounted prices.</li>



<li>Aniket Doegar, CEO, Haqdarshak Empowerment Solutions Private Limited (India)&nbsp;– has led the Indian social impact organization working on easing access to welfare for seven years. It digitized welfare schemes and provided application support to more than 120,000 people in low-income rural and urban communities.</li>



<li>Aref Husseini, CEO, Al Nayzak Foundation for Extra Curricular Education and Scientific Innovation (Palestine Territories)&nbsp;– challenging traditional teaching methods in the Palestinian education system to produce more students who are critical thinkers and who approach problem solving through research, analysis and scientific thinking.</li>



<li>Celina de Sola, President, Glasswing International (El Salvador)&nbsp;– empowers individuals and communities to address the root causes of poverty and violence through education and health programmes. Glasswing has expanded from its El Salvador base to 10 other countries and has impacted more than 1.5 million lives since 2007.</li>



<li>Joseph Kenner, CEO, Greyston (USA)&nbsp;– the New York-based pioneer of “open hiring” that helps individuals facing barriers to meaningful employment by offering work with no interviews, no background checks and no resumés. Best known for its bakery, Greyston is now expanding its reach and aims to provide open-hiring employment opportunities to 40,000 Americans by 2030.</li>



<li>Kola Masha, Managing Director, Babban Gona (Nigeria)&nbsp;– helps smallholder farmers increase profits and turns at-risk young people into entrepreneurs. Babban Gona’s unique technology platform helps farmers increase yields and aims to create millions of youth jobs, breaking a cycle of poverty and violence in rural communities.</li>



<li>Säbeen Haque, Executive Director, doctHERS (Pakistan)&nbsp;– connects female doctors to millions of under-served patients using digital technology through the innovative healthcare platform doctHERS. The online marketplace helps reintegrate women medical practitioners into the workforce and empowers marginalized communities by circumventing sociocultural barriers that can restrict access to healthcare.</li>
</ul>



Corporate Social Intrapreneurs: Leaders within multinational or regional companies who drive the development of new products, initiatives, services, or business models that address societal and environmental challenges.



<ul>
<li>Benoît Bonello, Social Innovation Director, SUEZ Group (France)&nbsp;– leading the company’s inclusive business approach with the goal of delivering a positive impact on society and the environment.</li>



<li>Kanika Pal, South Asia Sustainability Head, Hindustan Unilever (India)&nbsp;– an award-winning CSR and sustainability professional with over 17 years of experience, Pal quit the corporate sector from 2015 to 2017 and founded the Solutions for Clean and Healthy Environment Foundation to influence behaviour change for a cleaner planet.</li>
</ul>



Public Social Intrapreneurs: Leaders in the public sector, be it local or national governments or representatives of international organizations, who harness the power of social innovation and social entrepreneurship to create public good through policy, regulation, or public initiatives. The Schwab Foundation is the first of its kind to recognize public sector changemakers.



<ul>
<li>Yvonne Aki-Sawyerr, Mayor, Freetown City Council (Sierra Leone) – committed to transforming the city’s services, infrastructure and environment using an inclusive data-driven approach. The mayor’s three-year Transform Freetown plan details 19 concrete targets in 11 sectors covering issues ranging from waste management to improving urban planning and tackling environmental degradation.</li>



<li>Bushra Al Mulla, Director General, Family Care Authority of Abu Dhabi (UAE)&nbsp;– has been a serial intrapreneur in the Abu Dhabi government and has transformed the lives of families, children and people with disabilities through integration of public services to establish a holistic approach to families, allowing them to live as empowered citizens in the emirate.</li>
</ul>



Collective Social Innovation: Organizations coming together to address complex problems that cannot be tackled by individual actors, leveraging pooled assets such as knowledge, innovative solutions, human capital, access to networks and communication channels.



<ul>
<li>MapBiomas (Brazil), co-led by Tasso Azevedo, Founder and General Coordinator, Julia Shimbo, Scientific Coordinator, and Marcos Rosa, Technical Coordinator&nbsp;– a collaborative network of more than 70 organizations in 14 countries that monitors land use and land use change to promote the conservation and sustainable management of natural resources and fight climate change.&nbsp;</li>



<li>ProjectTogether (Germany), co-led by Philipp von der Wippel, Founder and Co-CEO, and Henrike Schlottmann, Co-CEO&nbsp;– an innovation platform based in Germany that supports the next generation in developing ground-breaking ideas from circular economy projects to climate-positive agriculture. to supporting refugees. It has supported more than 1,000 social pioneers and built a network of over 500 volunteer coaches and 400 experts.</li>



<li>Punjab Education Collective (India), co-led by Khushboo Awasthi, Chief Operating Officer of ShikshaLokam, Rucha Pande, Chief Operating Officer at Mantra4Change, and Simranpreet Oberoi, Co-Founder and Leader of Sanjhi Sikhiya&nbsp;– a collective of four organizations working to transform the public education system of the state of Punjab and improve educational standards against global benchmarks, impacting 2.3 million students across 19,000 government schools in Punjab.</li>



<li>Tamarack Institute (Canada), co-led by Liz Weaver and Danya Pastuszek, Co-CEOs&nbsp;– develops and supports collaborative strategies to fight poverty and solve major community issues mainly in Canada. The network has grown to more than 90 regional members, local non-profit or community associations, whose work impacts 22 million Canadians, equivalent to 58% of the country’s population.&nbsp;</li>



<li>WIEGO (Global), co-led by Sally Roever, International Coordinator (UK/US), Janhavi Dave, International Coordinator of HomeNet International (India), and Lorraine Sibanda, President of the Zimbabwe Chamber of Informal Economy Associations (Zimbabwe)&nbsp;– a global network dedicated to improving the working conditions, rights, protection, economic opportunities and voice of all the working poor, particularly women, in the informal economy.</li>
</ul>

Preparations Ahead of The World Economic Forum (WEF) 2023

Social Innovators of the Year 2023: Creating Opportunities for Youth in Rural Nigeria and Protecting the Amazon

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246297592-820x547.jpg" alt="" class="wp-image-422474" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246297592-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246297592-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246297592-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246297592-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246297592-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246297592-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Olena Zelenska, Ukraine&#8217;s first lady, delivers a special address on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2023. The annual Davos gathering of political leaders, top executives and celebrities runs from January 16 to 20. Photographer: Stefan Wermuth/Bloomberg via Getty Images</figcaption></figure>



Davos-Klosters, Switzerland, 17 January 2023 – Olena Zelenska, the First Lady of Ukraine, today called for the restoration of international law and the UN Charter. Speaking at the Opening Plenary of the 53rd World Economic Forum Annual Meeting, she told world leaders “deep inside we believe there is no global problem that humankind cannot resolve”.   Zelenska asked the gathering: “What if the sum of our influence doesn’t outweigh the Russian aggression?” She went on to say: “Our combined influence is bigger than the weight of our combined problems. That is why it is all the more important right now to use this influence when Russia’s invasion threatens a large-scale collapse of the world as we know it.”   She asked participants to imagine what could happen if tanks are allowed to strike at nuclear power stations; what could happen to inflation or the cost of living if tens of millions of Ukrainians are forced to become migrants; to climate neutrality when the world can’t stop Russia from burning entire cities in Ukraine. “In other words, what if the sum of our influence doesn’t outweigh the Russian aggression?” she said.   Zelenska called on world leaders to support her husband Ukrainian President Volodymyr Zelenskyy’s 10-point proposal to end the war. This includes an end to hostilities, restoration of Ukraine’s borders with Russia, release of all prisoners and deportees, as well as assurance of food and energy security and justice.   Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, welcoming participants to the Annual Meeting, emphasized the need for cooperation “to create more cohesive societies where people can thrive”. He said: “We believe we can do it – through innovation, human goodwill and ingenuity. We have the capacity to turn the challenges into opportunities.”   Alain Berset, President of the Swiss Confederation, also underlined the need for a renewed global partnership on the transnational, civilizational challenges of climate change, pandemic, war and nuclear proliferation. He described the Annual Meeting as a place of “optimism, of can-do spirit”.   Ascribing the worldwide rise of populism to inequity, Berset said leaders, including at past Annual Meetings, have given more thought to efficiency and prosperity than to social fairness – within and between countries – causing already fragile states to weaken further. “First, by climate change and the pandemic, and then by the war in Ukraine,” he said.     Yet, as the pandemic and the war in Ukraine have made clear, the problems experienced by fragile states inevitably affect countries near and far. “In the form of migration, corruption, terrorism,” Berset said, adding: “We must do all we can to support fragile states – otherwise they risk becoming failed states.”   About the World Economic Forum Annual Meeting 2023 The World Economic Forum <a href="https://www.weforum.org/events/world-economic-forum-annual-meeting-2023">Annual Meeting 2023</a> convenes the world’s foremost leaders under the theme Cooperation in a Fragmented World. It calls on world leaders to address immediate economic, energy and food crises while laying the groundwork for a more sustainable, resilient world. For further information, please click <a href="https://www.weforum.org/events/world-economic-forum-annual-meeting-2023">here</a>.

Opening Day of The World Economic Forum (WEF) 2023

Ukrainian First Lady Joins Swiss President in Opening Plenary of World Economic Forum Annual Meeting

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246272339-820x547.jpg" alt="" class="wp-image-422411" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246272339-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246272339-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246272339-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246272339-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246272339-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246272339-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A frost-covered logo for the World Economic Forum (WEF) in Davos, Switzerland, on Monday, Jan. 16, 2023. The annual Davos gathering of political leaders, top executives and celebrities runs from January 16 to 20. Photographer: Stefan Wermuth/Bloomberg via Getty Images</figcaption></figure>



Davos-Klosters, Switzerland, 17 January 2023&nbsp;– The&nbsp;<a href="https://www.weforum.org/">World Economic Forum</a>, in partnership with Accenture and Microsoft, today unveiled at its Annual Meeting 2023 a working prototype of its Global Collaboration Village, a purpose-driven metaverse where organizations can convene to learn about, create solutions for, and take action on the world’s most pressing challenges. With partners from&nbsp;<a href="https://weforum.ent.box.com/s/5nx27pbkb5uslbr3slcr80mvlh4xbwob">&nbsp;80 leading organizations</a>&nbsp;helping to shape the village’s development, participants from around the world joined the Forum in its first-ever interactive, multilateral session in the metaverse. “With the Global Collaboration Village, we are creating the first public purpose-oriented application of the metaverse technology, building a true global village in the virtual space. Supported by a unique range of partners from the public and private sectors, the Village will use the frontier capabilities of the metaverse to find solutions for addressing the big issues of our time in a more open, inclusive and sustained way,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. Julie Sweet, Chair and Chief Executive Officer of Accenture, added: “The metaverse will profoundly change every part of every business, bridging our physical and digital worlds, and over time will enable companies to create innovative new consumer products and services, transform their manufacturing and operations, and reimagine the way we collaborate and work.” Brad Smith, Vice-Chair and President, Microsoft Corporation, said, “We believe the metaverse has the potential to fundamentally change the way we communicate and collaborate, overcoming limitations of the physical world to deliver enhanced connections for everyone. The Global Collaboration Village, powered by Microsoft Mesh, is a prime example of how we can use metaverse technology to bring people and communities together in new ways.” About the Global Collaboration Village The&nbsp;<a href="https://www.weforum.org/global-collaboration-village">Global Collaboration Village</a>&nbsp;harnesses the power of the metaverse to create co-presence and connection for a more diverse and physically dispersed audience. Building on the proof of concept introduced in&nbsp;<a href="https://www.weforum.org/press/2022/05/world-economic-forum-unveils-virtual-global-collaboration-village-as-the-future-of-strong-public-private-cooperation?linkId=100000126739920">May 2022</a>, this innovative project,&nbsp;<a href="https://www.microsoft.com/en-us/microsoft-365/blog/?p=268984">built on the mixed reality platform Microsoft Mesh</a>, includes a set of initial immersive spaces that can be accessed by a VR headset or laptop device. These include:



<ul>
<li>A town hall: The Forum’s “Virtual Congress Centre” for future sessions or meetings, such as plenaries, workshops and bilaterals.</li>



<li>Collaborative centres: Virtual collaboration spaces for immersive storytelling and the Forum’s thought leadership, intended to inspire collaboration, experiential learning and real-world impact on global issues. For example, in a&nbsp;virtual ocean hub,&nbsp;participants can dive into the ocean’s depths and explore why and how marine ecosystems must be protected to preserve both life on land and in water.</li>



<li>Stakeholder campuses: Forum Partners can shape their presence, convene their stakeholders and partner with others to innovate and find solutions to global challenges.</li>
</ul>



Over the next year, the Forum will invite organizations to build in these immersive spaces to further bolster learning, collaboration and partnership. The initiative’s aim to strengthen and re-energize international cooperation is guided by four principles: global cooperation toward shared solutions; interactive immersion to foster better understanding; broad participation enabled by inclusive discussions; and individual and collective action as a catalyst for maximum impact. About the World Economic Forum Annual Meeting 2023 The World Economic Forum&nbsp;<a href="https://www.weforum.org/events/world-economic-forum-annual-meeting-2023">Annual Meeting 2023&nbsp;</a>will convene the world’s foremost leaders under the theme Cooperation in a Fragmented World. Find out more about the Annual Meeting 2023&nbsp;<a href="https://www.weforum.org/events/world-economic-forum-annual-meeting-2023">here</a>.

World Economic Forum Establishes Purpose-driven Metaverse to Tackle World’s Most Pressing Challenges

We visited the driest place on the planet — the Atacama Desert in Chile #Shorts

Today, the World Climate Foundation is proud to announce our 2023 roadmaps for climate, biodiversity and health &#8211; From Davos to Dubai. This announcement follows our participation in&nbsp;Giving Nature a Seat at the Table&nbsp;at the ICEHouse&nbsp;and several other exciting engagements&nbsp;during the week in Davos.



Ahead of this week’s annual meetings in Davos, World Economic Forum released the Global Risks Report, highlighting the most serious environmental threats we could face in the next decade. In light of these risks, the World Climate Foundation continues its efforts to address the biggest challenges of our time. 



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="366" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/856c464c-d9e3-6c42-330d-19235dfe6c54-820x366.jpg" alt="" class="wp-image-422467" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/856c464c-d9e3-6c42-330d-19235dfe6c54-820x366.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/856c464c-d9e3-6c42-330d-19235dfe6c54-300x134.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/856c464c-d9e3-6c42-330d-19235dfe6c54-160x71.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/856c464c-d9e3-6c42-330d-19235dfe6c54-768x343.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/856c464c-d9e3-6c42-330d-19235dfe6c54.jpg 1200w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



Setting the Global Agenda for 2023 



2022 delivered a lot of turning points, but also truly emphasised, that there is no time to waste. Now, it’s time for real progress.



2030 Transition Targets &amp; a Net-Zero World by 2050&nbsp; Along with the global climate community and as a member of the Marrakech Partnership, we are getting ready for COP28 in Dubai. This will be an important step on the world’s path to implementing the Paris Agreement. We will build on the past years’ success in facilitating climate finance. As a proud partner of the Climate Investment Coalition, we supported the&nbsp;<a href="https://wclimate.us16.list-manage.com/track/click?u=66a416ac22573d7548b3e2305&amp;id=eea5e86fb2&amp;e=75d87a81ed" target="_blank" rel="noreferrer noopener">US$130 billion total collective commitment at COP26</a>&nbsp;towards effective climate solution investments by 2030. This year, we will continue the work through&nbsp;<a href="https://wclimate.us16.list-manage.com/track/click?u=66a416ac22573d7548b3e2305&amp;id=949dc0edaa&amp;e=75d87a81ed" target="_blank" rel="noreferrer noopener">World Climate Network</a>, fostering public-private partnerships, climate and nature investments to achieve the transition to a net-zero economy through year-round and alongside pivotal climate events.&nbsp;



Achieving a Nature-Positive Future The coming year will also be crucial to show how the Kunming-Montreal Global Biodiversity Framework will be implemented in the years to come. Last year&nbsp;wrapped up on a high note with the adoption of the new framework at the UNCBD COP15,&nbsp;but now the work continues. Through World Biodiversity Summit and&nbsp;<a href="https://wclimate.us16.list-manage.com/track/click?u=66a416ac22573d7548b3e2305&amp;id=8bfea31dcd&amp;e=75d87a81ed" target="_blank" rel="noreferrer noopener">World Biodiversity Network</a>, we will convene multi-sector&nbsp;stakeholders and decision makers to highlight best practices and&nbsp;scalable demonstration projects to achieve the implementation of the new Framework.



Building Resilient Systems for Health This will also be the year of WHO’s pandemic treaty. COVID-19 showed how vulnerable the world can be when facing global health crises. It is projected that more possible global health threats are on the horizon, exacerbated by climate change and increased stress on ecosystems. As&nbsp;a response to this, we are launching World Resilience Summit and&nbsp;<a href="https://wclimate.us16.list-manage.com/track/click?u=66a416ac22573d7548b3e2305&amp;id=2be07fcdd0&amp;e=75d87a81ed" target="_blank" rel="noreferrer noopener">World Health Network</a>&nbsp;to support with establishing public-private partnerships and plans&nbsp;of action to find solutions to prevent future pandemics.

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From Davos to Dubai – Our 2023 Roadmaps Towards a Net-Zero, Nature-Positive & Healthy Future

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246262502-820x547.jpg" alt="" class="wp-image-422462" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246262502-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246262502-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246262502-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246262502-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246262502-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246262502-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">DAVOS, SWITZERLAND &#8211; JANUARY 15: The WEF annual meeting to be held from January 16 to 20 in Davos, Switzerland on January 15, 2023. Under the theme of &#8220;Cooperation in a Fragmented World,&#8221; top figures shaping global politics and the business world will attend this weekâs 53rd annual meeting of the World Economic Forum (WEF), in Davos-Klosters, Switzerland. The meeting, which starts Monday, will bring together more than 2,700 leaders from 130 countries including 50 heads of state or government, as multiple crises deepen divisions and fragment the geopolitical landscape. (Photo by Dursun Aydemir/Anadolu Agency via Getty Images)</figcaption></figure>



Davos-Klosters, Switzerland, 17 January 2023 – Adoption of connected devices during the pandemic <a href="https://www2.deloitte.com/ch/en/pages/risk/articles/impact-covid-cybersecurity.html">led to a dramatic increase in cyberattacks</a>. According to a new report launched today at the World Economic Forum Annual Meeting 2023, if left unchecked, the cost of cyberattacks will continue to rise, threatening a <a href="https://www.cnbc.com/2022/10/11/imf-cuts-global-growth-forecast-for-2023-warns-worst-is-yet-to-come.html">fragile global economy</a>.   The report, The State of the Connected World 2023 edition, a collaboration of the World Economic Forum with the <a href="https://weforum.org/connectedworld">Council on the Connected World</a>, says the immediate threats can be mitigated through robust security protocols and governance through public-private cooperation.   The State of the Connected World is the only global report that tracks and quantifies governance gaps for the universe of connected devices, known as the internet of things (IoT). The report surveyed 270 experts around the world to understand the state of play and establish clear priorities for technology governance.    “At a time when the global economy is fragile, we have the necessary tools to reduce at least one of the major threats to the global economy – cyberattacks,” said Jeff Merritt, Head of Urban Transformation, World Economic Forum. “The State of the Connected World report is a call to action for protecting against cybercrimes, which would also improve individual security and protect small and medium-sized business, transit systems, utilities – everything that relies on connected devices.”   “Our increasingly connected existence brings with it vulnerabilities that can be exploited by malicious actors,” said Akshay Joshi, Head of Industry and Partnerships, Centre for Cybersecurity, World Economic Forum. “Despite calls for embedding cybersecurity by design, the low level of confidence in the security of connected devices expressed by experts in this report is a testament to the fact that we still have a long way to go in terms of realizing trust in the technology we use.”   The report calls for increased consumer education through digital literacy campaigns, standardization practices of cybersecurity measures, prioritizing security by design and default (as opposed to reacting after the fact) and developing more agile policies to better address the quick-changing landscape of cybersecurity.   &#8220;We find ourselves at an inflection point this year with a number of global forces putting downward pressure on the economy,” said Madeline Carr, Professor of Global Politics and Cyber Security, Department of Computer Science, University College London. “It is essential that cybersecurity challenges are not left unchecked to further exacerbate this but are taken seriously as an integrated element of a thriving global economy.&#8221;   What other experts are saying:   “Open standards in technology have always led to greater innovation and greater consumer confidence. This year’s report from the Forum really emphasizes the importance of that direction. We’re very pleased to see the focus on privacy and security as a key priority. Solving for these ensures the greatest adoption of IoT, and the greatest likelihood of landing on valuable solutions for consumers in the ever-growing connected world.” Tobin Richardson, President and CEO, Connectivity Standards Alliance   “Planned spending on a security programme costs less than unplanned spending by 10 to 100 times, so it really makes sense now to evaluate and redouble your efforts to attain and maintain a mature programme. The year 2023 is predicted to deliver a perfect storm – from expected challenging economic conditions, ransomware up over 30% from last year, cyber insurance rates dramatically rising, coverage lowering, a severe skill and staff shortage, massive growth in vulnerable IoT connected devices and security products becoming the breach vector. Now is the time to redouble your focus on your security posture.” Peter Nicoletti, Field Chief Information Security Officer of the Americas, Check Point Software Technologies   “At Schneider Electric, we envision a fully connected, net-zero world which is more electrified, digitized and sustainable for future generations. To realize this future, businesses, organizations and governments must work together to address challenges such as cybersecurity, open standards and accessibility. I’m proud of our work with these stakeholders and the World Economic Forum and commit to continued vigilance to make the needed progress.”  Scott Harden, Chief Technology Officer, Innovation, Schneider Electric   “As the world gets more connected, complex and at times unpredictable, it is critical to drive and govern the change in a way that we not only address and mitigate risks but also emphasize the positive impact that connected technology brings.”  Anton Kotov, Chief Digital and Strategy Officer, ABB Electrification, ABB   “The ongoing advancement of emerging technologies highlights the importance of establishing strong governance to ensure safe and secure use of the technology. Security, privacy, trust and interoperability among IoT devices are serious issues that need to be addressed to accelerate IoT adoption and embrace a connected world. This can be achieved through collective action from the international community and by establishment of public-private partnerships. The 2023 report on the state of the connected world highlights the current gaps in governance and paves the path to address the associated risks for the benefit of humankind.”  Mariam Nouh, Vice-President of Economies of the Future Sector, King Abdulaziz City for Science and Technology (KACST)   “In order to ensure that connected devices and related technologies are accessible and beneficial for all members of society, adaptive and sustainable governance is needed for multistakeholders to expand the boundaries of their respective scope of works, to share risk and co-invest in the digital infrastructure together.” Fanyu Lin, CEO, Fluxus   About the World Economic Forum Annual Meeting 2023 The World Economic Forum <a href="https://www.weforum.org/events/world-economic-forum-annual-meeting-2023">Annual Meeting 2023</a> convenes the world’s foremost leaders under the theme Cooperation in a Fragmented World. It calls on world leaders to address immediate economic, energy and food crises while laying the groundwork for a more sustainable, resilient world. For further information, please click <a href="https://www.weforum.org/events/world-economic-forum-annual-meeting-2023">here</a>.

Unchecked Cyberattacks ‘Are Growing Threat to Fragile Global Economy’

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246271238-820x547.jpg" alt="" class="wp-image-422455" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246271238-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246271238-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246271238-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246271238-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246271238-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1246271238-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The logo the World Economic Forum (WEF) inside the Congress Centre in Davos, Switzerland, on Monday, Jan. 16, 2023. The annual Davos gathering of political leaders, top executives and celebrities runs from January 16 to 20. Photographer: Stefan Wermuth/Bloomberg via Getty Images</figcaption></figure>



Davos-Klosters, Switzerland, 17 January 2023&nbsp;– The World Economic Forum, supported by more than 45 partners today launched the Giving to Amplify Earth Action (GAEA), a global initiative to fund and grow new and existing public, private and philanthropic partnerships (PPPPs) to help unlock the $3 trillion of financing needed each year to reach net zero, reverse nature loss and restore biodiversity by 2050. With the energy and cost of living crises, the ambition of steering the planet towards a 1.5-degree Celsius warming pathway hangs in the balance. Meanwhile, the recent agreement at the UN Biodiversity Conference (CBD COP15) in Montreal to conserve 30% of all earth and sea looks bold but fragile in the face of a rising biodiversity crisis. Current funding is slow and inadequate, and a new approach is needed to get capital flowing. Philanthropic giving can address this, with unique qualities not found in other financing: it is nimble, more tolerant of risks and is driven by values and long-term outcomes rather than quarterly returns. “We are at a tipping point in our efforts to put the planet back on track to meet our climate ambitions. To reach the speed and scale required to heal the Earth’s systems, we need to unlock not only private capital and government funds, but also the philanthropy sector as a truly catalytic force to achieve the necessary acceleration,”&nbsp;said Klaus Schwab, Founder and Executive Chairman, World Economic Forum. GAEA’s growing body of philanthropic partners includes: Active Philanthropy, the African Climate Foundation, André Hoffmann Family Office, the Arab Foundations Forum, Bezos Earth Fund, BMW Foundation, Children’s Investment Fund Foundation, the Clean Air Fund, Climate Leadership Initiative, ClimateWorks Foundation, Eleven Eleven Foundation, the Gordon and Betty Moore Foundation, Growald Climate Fund, IKEA Foundation, Laudes Foundation, Noa’s Ark Foundation, Open Society Foundations, the Patrick J. McGovern Foundation, Pearl Initiative, Philanthropy Asia Alliance (by Temasek Trust), Philea, The Rockefeller Foundation, Trottier Family Foundation, United Nations Foundation, the Wellcome Trust, WINGS, Workday Foundation. Individuals, academic institutions, companies and public sector organizations supporting the initiative include: Cambridge Institute for Sustainability Leadership, Capital for Climate, Carbon Direct, Center on Global Energy Policy at Columbia University, Centre for Strategic Philanthropy at the University of Cambridge, Climate-KIC, Crescent Enterprises, Government of Egypt, HCLTech through their chairperson Roshni Nadar Malhotra, McKinsey Sustainability, Ocean14, Prince Maximilian von und zu Liechtenstein &#8211; Chairman of the Board LGT Group, Salesforce, Singapore University for Social Sciences, Stanford University Center for Ocean Solutions, Strategic Philanthropy Initiative at NYU Abu Dhabi, UN Environment Programme World Conservation Monitoring Centre, We Mean Business Coalition, World Association of PPP Units &amp; PPP Professionals.&nbsp; Philanthropic financing for climate mitigation has risen in recent years, but still represents less than 2% of total philanthropic giving, estimated at $810 billion in 2021. Greater philanthropic funding for climate and nature will support, not detract from, existing social priorities. As recently noted by Rajiv Shah, President, The Rockefeller Foundation: “Climate change poses a singular threat to humanity … we must directly confront climate change, even as we redouble efforts in our traditional program areas: health, power, food, and equity.” Over the next 12 months, supported by McKinsey Sustainability as a knowledge partner, GAEA will work with founding members to build momentum around three clear objectives:



<ul>
<li>Convene leaders from the public, private and philanthropic sectors to identify and target climate and nature solutions where they are best positioned to play a catalytic role&nbsp;</li>



<li>Pilot and refine funding models that can support PPPP interventions&nbsp;</li>



<li>Scale up and replicate successful approaches to new sectors, regions and actors</li>
</ul>



GAEA will build on existing examples of success. For example, the Clean Cooling Collaborative, founded with the help of an initial $10 million of philanthropic funding in 2016, has mobilized more than $600 million in public and private finance to improve equitable access to low-carbon cooling and support 4.2 gigatons of avoided CO2&nbsp;emissions by 2050. Similarly, the Government of the Seychelles has leveraged philanthropic funding, public loan guarantees and private investment to raise $15 million through a blue bond and convert $22 million of government debt into conservation funding to protect 13 marine areas, covering an area larger than Germany. Wendy Abrams, Chief Executive Officer, Eleven Eleven Foundation, said: “We need more companies, family offices, individuals and the new generation of philanthropists to get involved in the climate and nature conversation. If we do not solve this together, there will be nothing to pass on to the next generation. GAEA can be a good platform to get all the right stakeholders and amplify action at scale.” Rania Al-Mashat, Minister for International Cooperation, Government of Egypt, said: “This call to action is extremely timely, as it builds on the directions set during COP 27 in Sharm El-Sheikh, ‘the COP of implementation’ under the Egyptian presidency. We need more philanthropies to join us at the table and help scale up multilateral development bank finance to unlock private investments to accelerate the green transition. Egypt will work closely with the World Economic Forum to build effective and impactful philanthropic public private partnerships, and promote the role of the prominent ‘P’ – Philanthropy.” Per Heggenes, Chief Executive Officer, IKEA Foundation, said: “We are proud to support the launch of the GAEA initiative. The global figure of philanthropic capital for climate mitigation currently stands under 2% – and that is just not acceptable. But this is also a massive opportunity to leverage philanthropic giving for climate action. Philanthropies can play a unique role in encouraging urgent, radical and unprecedented collaboration between the public and private sectors. It’s only by working together at scale that we can unlock the investment required to achieve our ambitious climate goals and protect the planet.” Badr Jafar, Chief Executive Officer, Crescent Enterprises, said: “There is a historic opportunity to harness the full potential of philanthropic organizations, family offices and other innovative capital players, in unity with government and business to address our climate and nature goals. COP28 in the UAE will raise the bar in terms of ambition and the creation of a global architecture for all capital actors to act together at speed and at scale. The World Economic Forum and GAEA is a powerful platform and amplifier to enhance these efforts.” Helen Mountford, Chief Executive Officer, ClimateWorks, said: “By unleashing the small but mighty ‘P’ of philanthropy, we can create truly catalytic partnerships that unlock ambitious and collaborative public, private and philanthropic action to improve people’s lives.” Lim Seok Hui, Chief Executive Officer, Philanthropy Asia Alliance (by Temasek Trust), said: “Philanthropy Asia Alliance will continue to amplify its impact by supporting initiatives such as GAEA to pool our collective resources and expertise, and translate ideas into action. GAEA’s first Asia-focused key deliverable that will be launched later this year by PAA in partnership with the World Economic Forum, is a climate philanthropy report on multi-stakeholder partnerships as a force to combat complex climate challenges.” Bob Sternfels, Chief Executive Officer, McKinsey &amp; Company, said: “We are very excited to support GAEA’s aim to better connect philanthropic capital with public and private sector efforts to strengthen climate and nature solutions. Our collective hope is to accelerate thinking and action towards tipping points in these arenas, and to assure economic growth is increasingly sustainable and inclusive.”



About the World Economic Forum Annual Meeting 2023 The World Economic Forum&nbsp;<a href="https://www.weforum.org/events/world-economic-forum-annual-meeting-2023">Annual Meeting 2023</a>&nbsp;will convene the world’s foremost leaders under the theme Cooperation in a Fragmented World.

New Initiative to Help Unlock $3 Trillion Needed a Year for Climate and Nature

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179018-1673884197059-gettyimages-1246271143-DAVOS_WEF_2023-820x461.jpeg" alt="" class="wp-image-422451" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179018-1673884197059-gettyimages-1246271143-DAVOS_WEF_2023-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179018-1673884197059-gettyimages-1246271143-DAVOS_WEF_2023-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179018-1673884197059-gettyimages-1246271143-DAVOS_WEF_2023-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179018-1673884197059-gettyimages-1246271143-DAVOS_WEF_2023-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179018-1673884197059-gettyimages-1246271143-DAVOS_WEF_2023-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/107179018-1673884197059-gettyimages-1246271143-DAVOS_WEF_2023.jpeg 1920w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



European markets are heading for a flat to lower open Tuesday, with concerns about the global economy high on the agenda at the World Economic Forum in Davos this week.



CNBC will be speaking to a range of delegates at the forum on Tuesday, including the leaders of Spain, Latvia, Lithuania and Poland and the CEOs of Unilever, UBS, Allianz and Swiss Re, among many others. Follow our coverage here.



Concerns over the direction of the global economy, persistent inflation, fragmentation and sluggish growth are high on the agenda, as well as the war in Ukraine



Investors will also be digesting a slew of Chinese economic data that was released overnight, including figures showing the nation’s gross domestic product grew by 3% in 2022, marking one of the slowest growths in decades.

107179018-1673884197059-gettyimages-1246271143-DAVOS_WEF_2023

European markets head for lower open as economic concerns dominate Davos

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1439475516-820x547.jpg" alt="" class="wp-image-422438" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1439475516-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1439475516-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1439475516-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1439475516-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1439475516-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/GettyImages-1439475516-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">LOS ANGELES, CALIFORNIA &#8211; NOVEMBER 05: Idris Elba attends the 11th Annual LACMA Art + Film Gala at Los Angeles County Museum of Art on November 05, 2022 in Los Angeles, California. (Photo by Axelle/Bauer-Griffin/FilmMagic)</figcaption></figure>



DAVOS, Switzerland, Jan 16 (Reuters)&nbsp;&#8211;&nbsp;Actor Idris Elba and his wife Sabrina Dhowre Elba called on Monday for business and political leaders to provide more support to the world&#8217;s poorest countries in the form of investment rather than aid.



At the opening ceremony of the World Economic Forum (WEF) annual meeting in the Swiss mountain resort of Davos, the Elbas were both honoured for their work on environmental conservation, food security and climate change.



The couple, who are Goodwill Ambassadors for the United Nations&#8217; International Fund for Agricultural Development, appealed to participants at the annual summit for fast financial support for people hit by food scarcity and climate change.



&#8220;The poor of this world are not just looking for aid and handouts, they’re looking for investment,&#8221; Idris Elba said.



&#8220;We understand the power and change that can come from this room &#8230; We can move with agility and speed and your speed is needed now,&#8221; the star of he star of &#8220;Mandela: Long Walk to Freedom&#8221; and &#8220;Beasts of No Nation&#8221; added.



Sabrina Dhowre Elba highlighted food crises in Somalia, Haiti, Sudan and other countries, focusing on the plight of small-scale farmers without access to the resources they need and yet produce a third of the planet&#8217;s food.



&#8220;We are here at Davos to highlight the people and countries who are not making the headlines as much as my husband,&#8221; she said, looking at her partner.



(Reporting by Kathryn Lurie in Davos; Editing by Alexander Smith)

11th Annual LACMA Art + Film Gala – Arrivals

Davos 2023: Idris Elba calls for investment to help world’s poor

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="506" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/CS62UR5JZNID5DL7DS427TWJ2E-820x506.jpg" alt="" class="wp-image-418621" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/CS62UR5JZNID5DL7DS427TWJ2E-820x506.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/CS62UR5JZNID5DL7DS427TWJ2E-300x185.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/CS62UR5JZNID5DL7DS427TWJ2E-146x90.jpg 146w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/CS62UR5JZNID5DL7DS427TWJ2E-768x474.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/CS62UR5JZNID5DL7DS427TWJ2E.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Locals walk past electricity pylons during frequent power outages from South African utility Eskom, caused by its aging coal-fired plants, in Soweto, South Africa, July 3, 2022. REUTERS/Siphiwe Sibeko//File Photo</figcaption></figure>



DAVOS, Switzerland, Jan 16 (Reuters)&nbsp;&#8211;&nbsp;South Africa has a plan to improve energy provision that will end the need for any power cuts within the next 12-18 months, ITS Finance Minister Enoch Godongwana said on Monday.



&#8220;Eventually in the next 12-18 months we will be able to say load-shedding is a thing of the past. That is the target,&#8221; Godongwana, told Reuters on the sidelines of the World Economic Forum (WEF) in the Swiss resort of Davos.



Godongwana said so-called &#8220;stage 6&#8221; power cuts &#8211; which mean at least six hours a day without power for most South Africans &#8211; would no longer be needed within about five months as facilities are revamped and measures such as demand management take effect.



However, asked whether state-owned power utility Eskom could expect to be allocated more cash for diesel to help reduce the level of power cuts, he said: &#8220;I don&#8217;t think Eskom has a diesel problem, I think Eskom has got a management problem.&#8221;



Referring to a&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AJ8N325021&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">move</a>&nbsp;last week by South Africa&#8217;s energy regulator to approve an 18.65% power price rise for the financial year starting on April 1, he said: &#8220;I suspect it is going to give them (Eskom) sufficient resources to be able to deal with all of that stuff.&#8221;



Godongwana insisted the rand, which earlier on Monday fell against the dollar as investors worried about the power supply situation, &#8220;has proven to be resilient&#8221;, but he said South Africa needed to better communicate that it was tackling the problem.



President Cyril Ramaphosa, who earlier cancelled plans to attend the annual WEF meeting over the crisis, would refer to those efforts in his Feb. 9 state of the nation address, said Godongwana.



He would not elaborate on proposals for the state to take on a share of Eskom&#8217;s 400 billion rand ($23.5 billion) debt, saying he was &#8220;sharpening his pencil&#8221; to provide the details on his Feb. 23 budget presentation.



($1 = 17.0312 rand)



(Reporting by Mark John; Editing by Alexander Smith)

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Greta Thunberg says Davos elite are prioritizing greed and short-term profits over people and the planet

European markets fall as investor mood sours

Global CEOs Back Plan to Unlock $3.4 Trillion Potential of Africa Free Trade Area

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Social Innovators of the Year 2023: Creating Opportunities for Youth in Rural Nigeria and Protecting the Amazon

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