Latest news with #WorldEconomicForumAnnualMeeting
The Mainichi
3 days ago
- Politics
- The Mainichi
Global Perspective: Overcoming 'crisis of trust' vital as hostility, division deepen
By Izumi Nakamitsu, U.N. Under-Secretary-General Amid growing concerns worldwide about democracy in crisis, the findings of the 2025 Edelman Trust Barometer survey were released in January during the World Economic Forum Annual Meeting in Davos, Switzerland. Celebrating its 25th anniversary this year, the survey -- conducted annually by public relations firm Edelman Inc. in the United States -- measures public trust in governments, corporations, media, and nongovernmental organizations across the world. The survey's inception dates back to 1999, when large-scale demonstrations against globalization erupted in Seattle during the third World Trade Organization (WTO) ministerial meeting. The protests marked a historic watershed for civil society organizations and NGOs, amplifying their international decision-making. Initially designed to assess trust levels between governments, corporations and NGOs, the first results showed that NGOs were the most trusted globally. Since then, the world has experienced tectonic shifts: the financial crisis of 2008, the rise of populism from around 2016, the COVID-19 pandemic and the Russian invasion of Ukraine. Each of these crises has further shaken global stability. The deep anger of have-nots This year's Barometer, subtitled "Trust and the Crisis of Grievance," paints a stark picture: Trust in organizations in general, including governments and media outlets, continues to decline, with grievances especially high among low-income groups. Economic uncertainty, job insecurity and inequality -- exacerbated by globalization, recession, and accelerating rapid technological change -- are fanning resentment and grievances. And the gap between high- and low-income groups is widening regarding their trust in government and other organizations. One of the report's most shocking findings: An average of 40% of people in the world and 35% in Japan view "hostile activism" as a valid means to drive change. Among adults aged 18-34, support for hostile activism accounts for 53% globally and 43% in Japan. Hostile activism includes online attacks, intentionally spreading disinformation, threats or manifestations of violence, and damaging public or private property. In fact, with rising online hostility in Japan, and events such as the Capitol riots in the U.S. in January 2021, the report warns that hostile activism is not rare anymore. It is becoming a phenomenon that can happen at any time. Widespread pessimism about the future The survey reveals that less than 1 in 5 people in many developed countries believe that "the next generation will be better off compared to today." In Japan, only 14% hold this view. The 2023-2024 United Nations Development Programme Human Development Report finds that 7 out of 10 people feel they have little influence on their government's decisions. The sense of hopelessness for the future, paired with distrust in democratic political processes, is fueling vicious cycles of further disengagement in the political system. A "zero-sum" mindset -- where people assume that gains for the opposing group means losses for themselves -- coupled with misinformation and disinformation abounding on social networking sites further intensifies hostility and division among people. Populist resentment against the perceived economic elites stems from a reality where changes in the economic and industrial structures due to economic globalization benefit only a limited number of rich people, while their negative consequences remain largely unaddressed. Growing inequality and disparity erode social structures such as the family and community, which are key sources of people's sense of belonging. The current crisis of trust can no longer be framed by the traditional political axis of the right and the left. Instead, solutions must consider the state of the society, the role of politics and policies regarding international cooperation -- especially amid geopolitical paradigm shifts -- and technological innovation that is advancing at a tremendous pace. Domestic divisions and political polarization are directly interlinked with international cooperation and trust. "International cooperation" isn't limited to humanitarian and developmental assistance from developed to developing countries. It now extends to tackling a wide range of challenges vital to the stability and prosperity of the developed countries: responding to climate change, regulating artificial intelligence, and enhancing cooperation and norm promotion in security. Failing to address the sources of instability in developing countries could trigger further confusion and large-scale population movements, exacerbating international instability. As such, disengaging from international cooperation is ultimately not beneficial to the national interests of any country in the world today. The U.N. Sustainable Development Goals motto, "Leave no one behind," was adopted by the General Assembly in 2015, rooted in ethical and moral considerations based on international solidarity. The idea for humanity to prosper together is still an important principle, but now has taken a strategic dimension, as the survey reveals: Responding to popular grievances and restoring trust in political organizations has become critical to preventing large-scale destabilization of our global society. The UN's unconventional call to action In his September 2021 report titled "Our Common Agenda," United Nations Secretary-General Antonio Guterres emphasized the need to rebuild trust by renewing the "social contract" -- the agreement between governments and their citizens that underpins legitimacy in governance and is binding for the stakeholders. He urged global leaders to listen to the voices of citizens and work together to envision the future. The secretary-general's stance was unusual, as the world body normally avoids commenting on the internal affairs of member states in its reports, with the exception of major human rights violations. However, rebuilding trust can be perceived as an issue directly affecting world peace, given the big picture of global destabilization related to a crisis rooted in trust deficits in domestic political institutions fueled by people's grievances. Unfortunately, there is no quick fix. Governments, businesses, the media, NGOs, and international organizations from all sectors -- including the U.N. itself -- need to commit to and collaborate on concrete efforts to rebuild trust. We must be held accountable when we fail to perform the functions the people expect, and work hard to reform ourselves. Domestic organizations must listen to the voices of citizens, engage in sincere dialogue, and work together to find a breakthrough. Responses such as, "We would like to withhold an answer to your question," as is often heard in political arenas in Japan and elsewhere, should be confined to the past. In an era of great change, rebuilding trust at all levels is the key to a better future.
Leaders
16-03-2025
- Business
- Leaders
Economic, Development Affairs Council Convenes Virtually to Discuss Key Reports, Initiatives
The Council of Economic and Development Affairs recently held a virtual meeting to deliberate on a range of reports and agenda items. Among the key topics discussed were the latest economic developments, budget performance, and strategic initiatives aligned with Saudi Vision 2030. The council examined the quarterly economic report prepared by the Ministry of Economy and Planning, which provided a comprehensive overview of global economic trends and growth projections. The report analyzed the factors driving and hindering economic growth across various sectors, offering actionable solutions to address challenges. It also highlighted the strong performance of the national economy during the third and fourth quarters of 2024, supported by optimistic forecasts from both domestic and international institutions. Economic, Development Affairs Additionally, the council reviewed the fourth-quarter report on the state budget performance for the 2024 fiscal year, presented by the Ministry of Finance. The report outlined key financial metrics, including revenue, expenditure, and public debt indicators. Notably, non-oil revenues surged by 21%, reaching SAR 132 billion compared to SAR 109 billion in 2023. This growth underscores the success of government efforts to diversify the economy and expand non-oil sectors, in line with the objectives of Saudi Vision 2030. The report also emphasized the Kingdom's ongoing commitment to funding development projects, improving social welfare systems, and enhancing public services. The council also discussed Saudi Arabia's participation in the 2025 World Economic Forum Annual Meeting in Davos, highlighting the Kingdom's prominent role on the global stage as one of the world's largest economies. The country's progress in achieving Saudi Vision 2030 goals was recognized as a key driver of its international influence. Supreme National Investment Committee Several policy and regulatory presentations were also reviewed during the meeting. These included the guiding principles for green investments, submitted by the Supreme National Investment Committee, and updates on the organizational structure and guidelines for the Ministry of Media. Furthermore, the General Authority for Statistics presented key indicators on import substitution levels, along with summaries of monthly reports on the Consumer Price Index (CPI) and Wholesale Price Index (WPI). The council also examined the executive summary of the 2024 Monthly Foreign Trade Report and the underlying data that informed these analyses. Following the discussions, the council issued necessary decisions and recommendations to advance the Kingdom's economic and developmental priorities. These outcomes reflect the government's ongoing commitment to fostering sustainable growth, diversifying the economy, and enhancing the quality of life for its citizens. Related Topics: Saudi Arabia, Ukraine Underscore Strength of Economic Relations Int'l Virtual Conf. in Kuwait: Advancing Economic Diversification through AI Saudi Arabia Confirms Flexibility of its Economic Policies in Face of Global Challenges Saudi Saudi Minister of State for Foreign Affairs Meets with German Parliamentary State Secretary Short link : Post Views: 101
Saudi Gazette
15-03-2025
- Business
- Saudi Gazette
CEDA reviews role of reforms in diversification of economy and surge in non-oil revenues
Saudi Gazette report JEDDAH — The Council of Economic and Development Affairs (CEDA), which met via a video conference on Saturday, reviewed the role of reforms in the diversification of the economy and surge in non-oil revenues. This was during the discussion of the fourth-quarter report on the state budget performance for the fiscal year 2024, submitted by the Ministry of Finance. The report sheds light on financial performance during the fourth quarter of last year, including revenues, expenditures, and public debt indicators. It highlighted a 21 percent increase in non-oil revenues, reaching SR132 billion, compared to SR109 billion in 2023. The outcomes of the report affirmed the effectiveness of government efforts and reforms in diversifying the national economy and boosting non-oil activities, in line with the Saudi Vision 2030 objectives. It also highlighted the Kingdom's continued support for development and service projects, as well as its commitment to enhancing the regulations for social care and protection. The Council reviewed the quarterly economic report submitted by the Ministry of Economy and Planning, which addressed the key developments in the global economy and growth outlook projections. The report also included an in-depth analysis of the drivers and challenges affecting national economic growth across various sectors, along with proposed solutions. It also highlighted the economy's positive performance during the third and fourth quarters of 2024 and future forecasts issued by both local and international institutions. The council reviewed the outcomes of Saudi Arabia's participation in the 2025 World Economic Forum Annual Meeting in Davos, highlighting the country's international leading role as one of the world's largest economies, driven by its continuous progress in achieving the Saudi Vision 2030 goals. The council reviewed several presentations related to policies, studies, and administrative regulations, including the guiding principles for green investments, submitted by the Supreme National Investment Committee, as well as the organizational structure and guide for the Ministry of Media. The CEDA also reviewed a presentation by the General Authority for Statistics on indicators measuring import substitution levels, along with summaries of the monthly reports on the Consumer Price Index (CPI) and Wholesale Price Index (WPI). It examined the executive summary of the 2024 Monthly Foreign Trade Report and the core reports that formed the basis of these summaries. The council issued the necessary decisions and recommendations regarding these matters.
The National
31-01-2025
- Business
- The National
AI can help boost our clean energy ambitions
The impact of artificial intelligence (AI) was inescapable at this year's World Economic Forum Annual Meeting. Whether dialogues were focused on the global economic outlook, the future of the labour force, or the energy transition, the spectre of AI was ever present. And it's not hard to see why. With breakthrough technologies and innovations making their way from research labs to factories, supply and value chains, we are on the brink of a new era of social, economic and human possibility. Harnessing and integrating these technological breakthroughs into the global energy system will be crucial to unlocking this immense potential. This consensus from the Swiss mountains in Davos was also echoed at the International Day of Clean Energy. At a dedicated session hosted at the UAE pavilion at the annual meeting on January 22, global leaders who had gathered underscored the need for greater ambition and faster adoption of technologies to meet the UAE Consensus goals of tripling renewable energy capacity and doubling energy efficiency by 2030. With 2024 marking the first time that the 1.5 °C warming threshold has been breached for the year on average, long-term solutions are as desperately needed, as our time to deploy them is short. Right now, the research suggests that, if scaled at the right pace, digital technologies can reduce emissions by 20 per cent by 2050 in the three highest-emitting sectors: energy, materials and mobility. That represents a significant portion of the emissions reductions needed to keep a 1.5 °C future in our sights. There is, however, a dichotomy at the centre of the AI-energy revolution. The more AI technologies and tools that are developed, the higher the demand for the energy that supports them will grow. Thus, energy demand is only set to increase the more we depend on AI tools and networks. A World Economic Forum report from the start of 2024 pointed out that AI's energy use is currently estimated to be around 2-3 per cent of total global emissions. But that is likely to change rapidly as more companies, governments and organisations use AI to drive efficiency and productivity. And, when we realise that AI, and in particular generative AI systems might use up to 33 times more energy to complete a task than task-specific software would, it also comes with a renewed sense to make our energy supplies clean and renewable. For now, the early signs of AI's affect on the energy sector are encouraging. We are already seeing a wave of technological disruption reshaping the energy system – from transforming renewable energy generation and fundamentally altering how energy is consumed across end-use sectors. On the supply side, innovations such as advanced solar photovoltaic systems, offshore wind turbines, and next-generation grid-scale battery storage are enabling cleaner, more efficient energy production while improving grid reliability. When transmitted to end-use sectors like transport, buildings, and industry, technologies such as green hydrogen, smart grids, and electrification are driving significant reductions in carbon emissions. What's more, digital tools such as AI and blockchain are optimising energy efficiency and facilitating the integration of decentralised renewable energy systems. This tech-driven energy revolution is simultaneously transforming how we produce and consume energy, and creating a new development pathway that prioritises clean, affordable and accessible energy. The integration of AI with renewables is also helping enhance community resilience in vulnerable regions. For example, machine learning algorithms are being used to optimise microgrids, ensuring uninterrupted power supplies during extreme weather events. AI-powered predictive maintenance tools are reducing downtime in solar and wind facilities, while advanced forecasting models improve energy storage and grid balancing to accommodate variability in renewable energy sources. Such digital solutions are critical in scaling renewable energy systems globally and ensuring they are resilient to disruptions. The UAE, as a global leader in renewable energy, is already demonstrating how AI can be harnessed to achieve energy resilience and security. For instance, the Mohammed bin Rashid Al Maktoum Solar Park uses AI to optimise solar panel cleaning schedules and enhance energy output. The UAE has also integrated AI into its energy planning systems, enabling real-time monitoring of grid performance and predictive analytics to mitigate potential outages. Through initiatives such as Masdar City and partnerships with global technology leaders, the UAE is using AI to drive efficiencies, reduce emissions, and future-proof its energy systems. The convergence of AI and the energy transition presents an unprecedented opportunity to tackle the twin challenges of decarbonisation and growing energy demand. However, realising this potential requires co-ordinated global action. Policymakers must prioritise investments in clean energy technologies, while industry stakeholders adopt AI solutions responsibly to ensure they align with sustainability goals. The UAE is showing what is possible when innovation meets ambition, but it cannot do this alone. If we want to keep 1.5°C within reach and create a future powered by clean, reliable energy, the time to act is now. AI, when integrated thoughtfully and equitably into energy systems, can help us achieve a transformative and sustainable future. But only if we commit to scaling the technologies and policies that make it possible.
