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World Economic Forum

World Economic Forum

Introduction

  • World Economic Forum (WEF) is a non-profit organization that was founded in January 1971.
  • WEF is based in Cologne-Geneva, Switzerland and was formed with an initiative to improve the states of the world.
  • This organization was formerly known as the European Management Forum.

Background

  • Based in Geneva, Switzerland, WEF is a not-for-profit International organization established in the year 1971.
  • The Forum provides a platform for the CEOs of the largest companies, heads of state of countries, to meet each other and discuss business through bilateral meetings.
  • It’s a meet to showcase countries’ potential in order to attract businesses.
  • The theme of WEF 2020 is Stakeholders for a Cohesive and Sustainable World.
  • It is basically a networking event where countries project themselves to garner investment.

WEF Goals and Challenges

  • Protectionism is the biggest problem that the world is facing and the 50th summit of WEF is being held in this backdrop.
  • In the recent past, US has advocated protectionism and has also been trying to decimate the WTO and other such organizations.
  • The US’ approach towards climate agenda and towards trade has been disruptive.
  • Because of the US-China trade war, there has been a distinct fall in investment flows and trade flows. World trade faced renewed headwinds in 2018 as trade tensions and economic policy uncertainty rose sharply.
  • All the major, fastest-growing economies including India and China have slowed down presently. Most of the European economies are showing a growth of less than 1%.
  • Many economists are projecting that by the end of 2020 there might be a mild global recession.

India at WEF 2020

  • India is the largest consumer of LED bulbs and this has helped the nation in reducing power consumption and carbon emissions.
  • This was stated by Union Minister for Commerce and Industry, Piyush Goyal who is leading the Indian delegation at the 50th World Economic Forum at Davos.
  • The Minister stated that India will rely on coal as a baseload for the grid, to enable it to start introducing renewables.

Green Peace India

  • Greenpeace is a non-profit organisation, with a presence in 40 countries across Europe, the Americas, Asia and the Pacific.
  • To maintain its independence, Greenpeace does not accept donations from governments or corporations but relies on contributions from individual supporters and foundation grants.
  • As a global organisation, Greenpeace focuses on the most crucial worldwide threats to our planet’s biodiversity and environment.
  • It campaigns to:
    • Save the oceans Stop whaling
    • Stop climate change Protect ancient forests
    • Eliminate toxic chemicals Encourage sustainable trade
    • Say no to genetic engineering Stop the nuclear threat

Mission And Objectives Of Greenpeace

  • Greenpeace is an independent, campaigning organisation that uses non-violent, creative confrontation to expose global environmental problems, and force solutions for a green and peaceful future.
  • Greenpeace’s goal is to ensure the ability of the Earth to nurture life in all its diversity. Greenpeace organises public campaigns for:
    • The protection of oceans and ancient forests.
    • The phase out of fossil fuels and the promotion of renewable energy to stop climate change.
    • The elimination of toxic chemicals .
    • The prevention of genetically modified organisms being released into nature.
    • An end to the nuclear threat and nuclear contamination.
    • Safe and sustainable trade.

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