Davos Agenda: What you need to know about the global economy
In May, the world’s top risk professionals identified “prolonged recession of the global economy” as the most feared risk of COVID-19.
This was followed by other economic risks: a surge in bankruptcies and wave of industry consolidation, failure of industries or sectors in certain economies to properly recover, high levels of structural unemployment, and weakening of fiscal positions in major economies, among other significant concerns.
With the COVID-19 fallout compounded by the trade tensions, inequality and geopolitical concerns that marked 2019, ensuring a swift and sustainable economic recovery is paramount.
Reliance Industries, Mahindra Group join global giants in committing to stakeholder capitalism metrics
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Last Updated: Jan 26, 2021, 08:02 PM IST
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The move signals that private sector leaders view environmental, social and governance factors as critical to the success and long-term viability of all businesses and a unified voice is gathering pace on a global solution for non-financial reporting, the WEF said.
Reuters
Announcing the details during its online Davos Agenda Summit, the WEF said a total of 61 business leaders have so far committed to the core Stakeholder Capitalism Metrics.
New Delhi/Davos:
Reliance Industries and Mahindra Group on Tuesday joined more than 50 global giants in committing to core stakeholder capitalism metrics a set of environmental, social and governance (ESG) parameters and disclosures prepared by the World Economic Forum.
"As a businessman, it benefits to create a business that promotes the economic prospects of as many people as possible. Businesses need to find a purpose that is transcending," the Mahindra Group chairman said.
Spanish Prime Minister Pedro Sanchez told the World Economic Forum s (WEF) first virtual Davos Forum that he intends to improve employment prospects in his country.On Monday, Sanchez participated via video conference in one of the forum s round .
All hands needed on deck to help world recover from COVID-19 pandemic: IMF chief
Speaking at the World Economic Forum s online Davos Agenda Summit, Kristalina Georgieva said the IMF is projecting 5.5 per cent global economic growth for 2021, which is higher than before.
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The IMF chief said the past experience shows that pandemic increases the inequality. (Express Illustrations | Amit Bandre) By PTI
NEW DELHI/DAVOS: Concerned over the COVID-19 pandemic having widened inequality, IMF Chief Kristalina Georgieva said on Tuesday all hands are needed on deck, be it businesses, governments or even central banks, for a sustainable and balanced recovery.