The World Economic Forum (WEF) in Davos has concluded, prompting reflections on whether the discussions will have a real impact. But with numerous leaders in attendance, the conversations held at Davos are sure to have consequences. During the week, UNHCR ambassador and champion poet Emi Mahmoud posed the real question to consider: “It’s not a matter of changing the world; we all change the world every day. It’s just a question of whether we change it for the better.”
Here are 5 actionable ideas explored at the WEF that could yield significant impact if implemented effectively:
1.Africa’s Creative Industry Can Be A Driver of Jobs:
This year, African nations actively leveraged the WEF to enhance trade and investment, emphasizing the potential of their creative industries. In a roundtable led by the Nigerian Minister of Arts, Culture, and Creative Economy, Hannatu Musa Musawa, it was revealed that President Bola Tinubu had tasked her with ensuring that 10% of the Nigerian economy comes from the creative industries by 2030—equivalent to $100 billion. Musawa highlighted the potential to generate 7 million jobs if successful.
Representatives from TikTok, businesses, and foundations offered suggestions during the roundtable on how Musawa could achieve this goal. Some proposed partnerships, while others shared insights from successful strategies in emerging markets like Brazil, India, and China. The Minister committed to a follow-up within the next 6 months to track the implementation of ideas raised in the meeting.
The WEF also witnessed the announcement that Ghana is set to join Rwanda as a host for Move Afrika 2024, an international music tour curated by pgLang and led by Global Citizen (Disclaimer: I work for Global Citizen). This initiative aims to drive economic investment, create jobs, and support African entrepreneurship. The Ghanaian government’s post-event analysis of the previous event in Accra in 2022 reported a substantial impact, injecting over $15 million into the economy and drawing in over 5,000 international visitors.
Despite the dominance of AI discussions in the broader media narrative around WEF, there was an intriguing counterpoint with the heightened visibility of culture and creativity as job generators. A WEF attendee noted at the Nigerian roundtable, “We don’t yet know all the questions that AI will throw up, but culture and creativity will provide the answers.”
2. Businesses Make the Business Case for Fossil Fuel Transition:
In a recent article covering COP28 in Dubai, I highlighted how notable business leaders, including Andrew Forrest of Fortescue Metals in Australia, explicitly emphasized the imperative to phase out fossil fuels despite the presence of fossil fuel lobbyists. This perspective persisted at Davos, where groups like We Mean Business and the UN’s Global Compact actively engaged business leaders in emphasizing the need for transitioning away from fossil fuels.
While climate discussions may not have received as much prominence as previous high-profile corporate climate pledges, the focus at Davos seemed to shift towards practical considerations surrounding implementation. Topics included the impact of new regulations on corporate green claims, the integration of sustainability principles throughout corporate supply chains, and the role of climate philanthropy.
On the last point, ClimateWorks Foundation utilized the WEF platform to highlight a concerning fact: less than 2% of all philanthropy is directed toward addressing climate change. As they decarbonize their supply chains, shifting from fossil fuel use, businesses should also consider the role they can play in meeting the broader financing needs particularly in developing countries around the clean energy transition.
3.Australia Signals Potential Commitment to Food Security:
The hunger crisis, despite concerns about its potential escalation, garnered minimal attention at the WEF. Side events, often with small crowds, took the lead on this critical topic. Nonetheless, progress was evident within these discussions.
In a session hosted by Citi, Kevin Rudd, Australia’s Ambassador to the US and former Prime Minister, expressed willingness to follow up with his government on the prospect of Australia rejoining the International Fund for Agricultural Development (IFAD). IFAD plays a crucial role in supporting smallholder farmers in developing countries and boosting food production. Australia had left IFAD two decades ago, and ongoing efforts aim to encourage the current government to rejoin.
Despite the potential positive development, Rudd reflected on the challenge of insufficient visibility given to food issues, as observed at the WEF. Similarly, a minister overseeing a significant development aid ministry in a wealthy Scandinavian country emphasized the need for greater efforts to enhance issue visibility, particularly when facing opposing voices calling for further cuts to aid budgets back home.
The absence or lack of visibility on issues like hunger underscores the significance of investing in advocacy and communication efforts to elevate them at the WEF and on other agendas. It also emphasizes the importance of advocates being present at these discussions to challenge governments on their approaches to these issues. Several attendees commented that this year’s G20 hosted by Brazil represents at least one opportunity to accelerate progress, as it is one of the few political forums that has firmly placed hunger on the agenda.
4.Philanthropic Voices Embrace Systemic Policy Change:
I have previously stressed the importance of philanthropy being more open to investing in and embracing efforts supporting policy change. This narrative is gaining significant traction within the philanthropic community.
At the onset of the WEF, Mark Malloch Brown of the Open Society Foundation reflected on the potential of philanthropy, stating: “As the 2024 World Economic Forum gathers in Davos, it does so against the backdrop of dauntingly complex and interlocking crises. This tumultuous global moment is also an inflection point for philanthropy.… But in a time of such intense rupture and flux, philanthropy must adopt a more disruptive role, moving out from under the tumbling pillars and walls of the old order and helping lay the foundations of a new, better one… Program officers working in the philanthropic sector must seek out the leaders, campaigners, and thinkers pioneering that change, then help them get on with it on their own terms.“
Foundations and philanthropies are responding to this call in various ways. Some are enhancing their own advocacy capacity, while others are strengthening this capacity within civil society organizations. Efforts are also focused on fostering greater integration between advocacy groups in the global north and south to overcome divisions at the government and geopolitical levels. All these endeavors are welcomed, and the heightened recognition of the importance of policy advocacy should lead to increased funding in the sector. The earlier point on the lack of visibility regarding the hunger crisis underscores this critical need more than ever.
5. Potential to Dramatically Reduce Child Deaths by 2030:
Last year, reports indicated that the UN’s Sustainable Development Goals were off track. Amidst this gloomy narrative, lost was the potential for significant achievements by 2030 with the right level of investment and focus.
In discussions on the sidelines of WEF, potential solutions were discussed, particularly concerning the health-related SDGs. Notably, there is a possibility for substantial gains in reducing child mortality worldwide, thanks to advancements in vaccines and treatments. These advancements encompass improvements in both production and distribution capabilities. Recently approved malaria vaccines are set for introduction in countries as early as the first quarter of this year. By directing increased investment into organizations like Gavi, the vaccine alliance, there is potential to reach many millions more zero-dose children—those who have not received a single vaccine against infectious diseases. Achieving such a milestone by 2030 could save millions of lives. The next 12 months will be critical for ensuring governments pledge funds towards these efforts.