New Initiatives launched at WEF
The World Economic Forum met at Davos, Switzerland. During their meeting, the world leaders launched more than fifty initiatives focusing to build a resilient and sustainable world. Most of the initiatives addressed the food crisis issues and economic energy issues. The event is of great significance as economists are expecting an economic crisis due to geopolitical tensions. Also, recessionary risks have been forecasted. Pressure on food, inflation, and energy is expected to increase in 2023. The Ukraine war and US–China relations are to cause income-related crises and global economic runoff. The initiatives were launched considering the impacts of these issues.
Giving to Amplify Earth Action
The initiative will raise 3 trillion USD for climate and nature. That is, it will ensure that 3 trillion USD is available for the climate and nature-related actions of WEF. HCL Technologies of India is supporting the initiative along with 45 other stakeholders. What will they do? They will help WEF raise 3 trillion USD in funds.
The main objective of GAEA
- To achieve net – zero
- Restore biodiversity by 2050
- Stop deforestation and reduce environmental destruction
- Make sure the 1.5 degrees target is in tight track
Maharashtra signed agreement
The Maharashtra State Government signed an agreement with World Economic Forum to get technical advice and strategies for Urban transformation.
Telangana signed agreement
Telangana Government signed an agreement to get a life science center and a health care center
It aims to manage wildfires using Artificial Intelligence. Under the initiative, scientists will use data and maps to determine the intensity of wildfires in different parts of the world. Based on the determined levels, the scientists will plan the logistics essential to manage the wildfire. WEF has already tested the initiative in Turkey and succeeded.
Global Collaboration Village Mission
The main objective of this initiative is to create a space for discussion. The mission will bring in all stakeholders together to discuss on the economic development of the world. It aims to bring global development.
Cyber Resilience in Oil and Gas Initiative
The oil and gas industry is becoming more prone to cyber-attacks. This initiative will work to find cyber solutions to protect oil and gas pipelines. In 2021, the US faced a major pipeline attack called the “Colonial Pipeline Attack”.