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{{Short description|Swiss nonprofit foundation}}
{{Redirect|WEF}}
{{
▲{{Use dmy dates|date=February 2024}}
{{Infobox organization
| name = World Economic Forum
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| headquarters = [[Cologny]], Switzerland
| region_served = Worldwide
| leader_title = [[Chairman|Executive
| leader_name = Klaus Schwab
| leader_title2 = President
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The '''World Economic Forum''' ('''WEF''') is an [[international non-governmental organization]], [[think tank]], and [[Lobbying organization|lobbying organisation]]<ref>{{cite web|title=World Economic Forum |website=LobbyFacts |url=https://lobbyfacts.eu/representative/709324f9eac74a5da8aa63c8a9ded331/world-economic-forum |access-date= |language=en}}</ref><ref>{{cite web|title=World Economic Forum |website=LobbyFacts |url=https://www.lobbyfacts.eu/datacard/world-economic-forum?rid=567538843366-43&sid=142243|access-date= |language=en}}</ref> based in [[Cologny]], Canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer [[Klaus Schwab]].
The foundation, which is mostly funded by its 1,000 member companies,<ref>{{Cite web |date=
The Forum claims that a globalized world is best managed by a self-selected coalition of [[multinational corporation]]s, [[government]]s and [[civil society organization]]s (CSOs),<ref>{{cite web |last=Buxton |first=Nick |date= 18 January 2016 |website= Transnational Institute |title=Davos and its danger to Democracy |url=https://www.tni.org/en/article/davos-and-its-danger-to-democracy |language=en|pages=|quote=}}</ref> which it expresses through initiatives like the "[[Great Reset]]"<ref name="reset">{{Cite web|title=The Great Reset |url=https://www.weforum.org/focus/the-great-reset |access-date=20 August 2021|language=en}}</ref> and the "Global Redesign".<ref>{{cite web|title=Are the days of Davos man and woman really over?|periodical=UN Today
The WEF is mostly known for its annual meeting at the end of January in [[Davos]], a mountain resort in the eastern [[Alps]] region of [[Switzerland]]. The meeting brings together some 3,000 paying members and selected participants – among whom are investors, business leaders, political leaders, [[economist]]s, celebrities and journalists – for up to five days to discuss [[list of global issues|global issues]] across 500 sessions.<ref>{{cite web |last1=Marshall |first1=Andrew |title=World Economic Forum: A History and Analysis |url=https://www.tni.org/en/article/world-economic-forum-a-history-and-analysis |website=The Transnational Institute |date=20 January 2015 |access-date=9 August 2021 |archive-date=9 August 2021 |archive-url=https://web.archive.org/web/20210809055744/https://www.tni.org/en/article/world-economic-forum-a-history-and-analysis |url-status=live
Aside from Davos, the organization convenes regional conferences. It produces a series of reports, engages its members in sector-specific initiatives<ref name=pigman1>{{cite book |title=The World Economic Forum – A Multi-Stakeholder Approach to Global Governance |last=Pigman |first=Geoffrey Allen |pages=41–42 |year=2007 |isbn=978-0-415-70204-1 |publisher=Routledge |location=London}}</ref> and provides a platform for leaders from selected stakeholder groups to collaborate on projects and initiatives.<ref>{{Cite web|url=https://www.weforum.org/platforms/|title=Platforms|website=World Economic Forum|access-date=21 July 2021|archive-date=21 July 2021|archive-url=https://web.archive.org/web/20210721025256/https://www.weforum.org/platforms|url-status=live}}</ref>
The World Economic Forum and its annual meeting in Davos have received criticism over the years, including allegations of the organization's corporate capture of global and democratic institutions, employer misconduct and harassment, institutional whitewashing initiatives, the public cost of security, the organization's tax-exempt status, unclear decision processes and membership criteria, a lack of financial transparency, and the [[environmental footprint]] of its annual meetings.<ref>{{Cite web|url=https://www.theguardian.com/commentisfree/2020/jan/24/billionaires-davos-climate-crisis-world-economic-forum|title=We can't trust the billionaires of Davos to solve a climate crisis they created | Payal Parekh|website=[[TheGuardian.com]]|date=24 January 2020|access-date=25 July 2021|archive-date=25 July 2021|archive-url=https://web.archive.org/web/20210725105938/https://www.theguardian.com/commentisfree/2020/jan/24/billionaires-davos-climate-crisis-world-economic-forum|url-status=live}}</ref><ref>{{cite news |title=Bundesrat streicht dem WEF Geld |trans-title=Federal Council cancels WEF funding |url=https://www.suedostschweiz.ch/politik/2021-02-24/bundesrat-streicht-dem-wef-geld |work=[[Die Südostschweiz]] |agency=[[Swiss Telegraphic Agency|sda]] |date=24 February 2021 |language=de |access-date=12 July 2021 |archive-date=12 July 2021 |archive-url=https://web.archive.org/web/20210712121842/https://www.suedostschweiz.ch/politik/2021-02-24/bundesrat-streicht-dem-wef-geld |url-status=live
[[File:20th Anniversary Schwab Foundation Gala Dinner (43075411050).jpg|thumb|right|[[Klaus Schwab]], founder and executive chairman, World Economic Forum]]▼
==History==
[[File:1971 Opening.jpg|thumb
[[File:Frederik de Klerk with Nelson Mandela - World Economic Forum Annual Meeting Davos 1992.jpg|thumb|[[F. W. de Klerk]] and [[Nelson Mandela]] shake hands at the annual meeting of the World Economic Forum held in Davos in January 1992.]]
[[File:Henry Kissinger with former USSR leaders - WEF Annual Meeting 1992.jpg|thumb
[[
The WEF was founded in 1971 by [[Klaus Schwab]], a business professor at the [[University of Geneva]].<ref name=pigman2>{{cite book |title=The World Economic Forum – A Multi-Stakeholder Approach to Global Governance |last=Pigman |first=Geoffrey Allen |pages=6–22 |year=2007 |isbn=978-0-415-70204-1 |publisher=Routledge |location=London}}</ref> First named the '''European Management Forum''', it changed its name to the World Economic Forum in 1987 and sought to broaden its vision to include providing a platform for resolving international conflicts.<ref name="wef40">{{cite news |title=The World Economic Forum – A Partner in Shaping History The First 40 Years 1971 – 2010 |url=https://www3.weforum.org/docs/WEF_First40Years_Book_2010.pdf |publisher=World Economic Forum |date=2009 |access-date=14 April 2022 |archive-date=21 April 2022 |archive-url=https://web.archive.org/web/20220421063137/https://www3.weforum.org/docs/WEF_First40Years_Book_2010.pdf |url-status=live
In February 1971, Schwab invited 450 executives from [[Western European]] firms to the first European Management Symposium held in the [[Davos Congress Centre]] under the patronage of the [[European Commission]] and European industrial associations, where Schwab sought to introduce European firms to American management practices.<ref>{{Cite web|title=Davos at 50: a timeline of highlights|url=https://www.weforum.org/agenda/2019/12/world-economic-forum-davos-at-50-history-a-timeline-of-highlights/|access-date=9 February 2021|website=World Economic Forum|language=en|archive-date=10 February 2021|archive-url=https://web.archive.org/web/20210210093935/https://www.weforum.org/agenda/2019/12/world-economic-forum-davos-at-50-history-a-timeline-of-highlights/|url-status=live}}</ref> He then founded the WEF as a nonprofit organization based in [[Geneva]] and drew European business leaders to [[Davos]] for the annual meetings each January.<ref>Kellerman. p. 229.</ref>
The second European Management Forum in 1972 was the first meeting where a [[head of government]] featured as a speaker, Prime Minister [[Pierre Werner]] of [[Luxembourg]].<ref>{{Cite web|title=1972s – The Triumph of an Idea – Building an International Organization for Public-Private Cooperation|url=http://widgets.weforum.org/history/1972.html|access-date=9 February 2021 |website=
Events in 1973, including the collapse of the [[Bretton Woods system|Bretton Woods]] fixed-exchange rate mechanism and the [[Yom Kippur War]], saw the annual meeting expand its focus from management to economic and social issues, and, for the first time, political leaders were invited to the annual meeting in January 1974.<ref>{{Registration required|date=January 2011}} [http://www.ft.com/cms/s/0/0304411c-c5e8-11dc-8378-0000779fd2ac,dwp_uuid=01b19234-b4b2-11dc-990a-0000779fd2ac.html?nclick_check=1 "Interview: Klaus Schwab"] {{webarchive|url=https://web.archive.org/web/20090604034329/http://www.ft.com/cms/s/0/0304411c-c5e8-11dc-8378-0000779fd2ac%2Cdwp_uuid%3D01b19234-b4b2-11dc-990a-0000779fd2ac.html?nclick_check=1 |date=4 June 2009}}.''[[Financial Times]]''. 22 January 2008. Retrieved 29 August 2008.</ref>
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Political leaders soon began to use the annual meeting as venue for promoting their interests. The ''Davos Declaration'' was signed in 1988 by [[Greece]] and [[Turkey]], helping them turn back from the brink of war. In 1992, South African President [[F. W. de Klerk]] met with [[Nelson Mandela]] and [[Mangosuthu Buthelezi|Chief Mangosuthu Buthelezi]] at the annual meeting, their first joint appearance outside South Africa. At the 1994 annual meeting, Israeli Foreign Minister [[Shimon Peres]] and [[Chairman of the Palestine Liberation Organization|PLO chairman]] [[Yasser Arafat]] reached a draft agreement on [[Gaza City|Gaza]] and [[Jericho]].<ref>Lowe, Felix (14 January 2008). [https://www.telegraph.co.uk/money/main.jhtml?xml=/money/exclusions/hubpages/davos2008/davoshistory.xml "WEF and Davos: A Brief History"] {{webarchive|url=https://web.archive.org/web/20080403191551/http://www.telegraph.co.uk/money/main.jhtml?xml=%2Fmoney%2Fexclusions%2Fhubpages%2Fdavos2008%2Fdavoshistory.xml |date=3 April 2008}}. ''[[The Daily Telegraph|The Telegraph]]''. Retrieved 25 January 2011.</ref>
After 9/11, the WEF was held in the
In October 2004, the World Economic Forum gained attention through the resignation of its CEO<ref>{{Cite web|url=https://www.weforum.org/agenda/2004/10/ceo_resigns/|title=CEO resigns|website=World Economic Forum|access-date=14 June 2020|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806194259/https://www.weforum.org/agenda/2004/10/ceo_resigns/|url-status=live}}</ref> and executive director [[José María Figueres]] over the undeclared receipt of more than US$900,000 in consultancy fees from the French telecommunications firm [[Alcatel-Lucent|Alcatel]].<ref>{{Cite web|url=https://www.swissinfo.ch/eng/wef-director-resigns-over-undeclared-fees/4171240|title=WEF director resigns over undeclared fees|website=SWI swissinfo.ch|date=29 October 2004 |access-date=14 June 2020|archive-date=15 August 2020|archive-url=https://web.archive.org/web/20200815180653/https://www.swissinfo.ch/eng/wef-director-resigns-over-undeclared-fees/4171240|url-status=live}}</ref> [[Transparency International]] highlighted this incident in their [[Global Corruption Report]] two years later in 2006.<ref>{{Cite web|title=Global Corruption Report 2006 – Transparency International, Page 147|url=https://images.transparencycdn.org/images/2006_GCR_HealthSector_EN.pdf|website=Global Corruption Report 2006 – Transparency International|access-date=30 May 2021|archive-date=19 July 2021|archive-url=https://web.archive.org/web/20210719090720/https://images.transparencycdn.org/images/2006_GCR_HealthSector_EN.pdf|url-status=live}}</ref>
In January 2006, the WEF published an article in its ''Global Agenda'' magazine titled "Boycott Israel", which was distributed to all 2,340 participants of the annual meeting.<ref>{{Cite web |url=https://www.fastcompany.com/673871/scandal-davos |title=Scandal At Davos |date=26 January 2006 |website=Fast Company |access-date=17 June 2020 |archive-date=17 June 2020 |archive-url=https://web.archive.org/web/20200617101259/https://www.fastcompany.com/673871/scandal-davos |url-status=live
In late 2015, the invitation was extended to include a North Korean delegation for the 2016 WEF, "in view of positive signs coming out of the country", the WEF organizers noted. North Korea has not been attending the WEF since 1998. The invitation was accepted.<ref>{{Cite web|last=Atkinson|first=Claire|date=6 January 2016|title=North Korea accepts invite to World Economic Forum|url=https://nypost.com/2016/01/05/north-korea-accepts-invite-to-world-economic-forum/|access-date=13 February 2021|website=New York Post|language=en-US|archive-date=1 July 2022|archive-url=https://web.archive.org/web/20220701123137/https://nypost.com/2016/01/05/north-korea-accepts-invite-to-world-economic-forum/|url-status=live}}</ref> However, WEF revoked the invitation on 13 January 2016, after the [[January 2016 North Korean nuclear test|6 January 2016 North Korean nuclear test]], and the country's attendance was made subject to "existing and possible forthcoming sanctions".<ref>Keaten Jamey, ''AP'' (13 January 2016). [https://www.usnews.com/news/business/articles/2016-01-13/world-economic-forum-revokes-invite-to-north-korea-for-davos "World Economic Forum revokes invitation to North Korea to attend the annual meeting in Davos"] {{webarchive |url=https://web.archive.org/web/20161011152918/http://www.usnews.com/news/business/articles/2016-01-13/world-economic-forum-revokes-invite-to-north-korea-for-davos |date=11 October 2016}}. ''U.S. News & World Report''. Retrieved 14 January 2016.</ref><ref>{{Cite web|title=World Economic Forum revokes invite to North Korea for Davos|url=https://apnews.com/article/2b64b1e124c3455dbafaf3c47189cb4c|access-date=13 February 2021|website=AP NEWS|date=13 January 2016 |archive-date=13 September 2022|archive-url=https://web.archive.org/web/20220913215956/https://apnews.com/article/2b64b1e124c3455dbafaf3c47189cb4c|url-status=live}}</ref> Despite protests by [[North Korea]] calling the decision by the WEF managing board a "sudden and irresponsible" move, the WEF committee maintained the exclusion because "under these circumstances there would be no opportunity for international dialogue".<ref>''AFP'' (15 January 2016). [http://www.chinapost.com.tw/asia/korea/2016/01/15/456143/N-Korean.htm N. Korean fury over 'sinister' WEF Davos forum exclusion] {{webarchive |url=https://web.archive.org/web/20161007202014/http://www.chinapost.com.tw/asia/korea/2016/01/15/456143/N-Korean.htm |date=7 October 2016}}. ''The China Post''. Retrieved 15 January 2016.</ref>
In 2017, the WEF in Davos attracted considerable attention when, for the first time, a head of state from the [[China|People's Republic of China]] was present at the alpine resort. With the backdrop of [[Brexit]], an incoming [[protectionist]] US administration and significant pressures on [[free trade zone]]s and [[trade agreement]]s, [[Paramount leader]] [[Xi Jinping]] defended the global economic scheme, and portrayed China as a responsible nation and a leader for environmental causes. He sharply rebuked the current populist movements that would introduce tariffs and hinder global commerce, warning that such protectionism could foster isolation and reduced economic opportunity.<ref>P. S. Goodman (2017). [https://www.nytimes.com/2017/01/17/business/dealbook/world-economic-forum-davos-china-xi-globalization.html "In Era of Trump, China's President Champions Economic Globalization"] {{Webarchive|url=https://web.archive.org/web/20170117215637/https://www.nytimes.com/2017/01/17/business/dealbook/world-economic-forum-davos-china-xi-globalization.html |date=17 January 2017
In 2018, Indian Prime Minister [[Narendra Modi]] gave the keynote speech, becoming the first head of government from India to deliver the inaugural keynote for the annual plenary at Davos. Modi highlighted [[global warming]] (climate change), terrorism and protectionism as the three major global challenges, and expressed confidence that they can be tackled with collective effort.<ref>{{Cite news|url=http://www.livemint.com/Politics/zoGD1tD80dF755GW9xZkyJ/Narendra-Modi-in-Davos-LIVE-PM-to-address-World-Economic-Fo.html|title=WEF Davos 2018 highlights: Narendra Modi warns of three global threats|date=23 January 2018|website=livemint.com|access-date=8 February 2018|archive-date=9 February 2018|archive-url=https://web.archive.org/web/20180209064111/http://www.livemint.com/Politics/zoGD1tD80dF755GW9xZkyJ/Narendra-Modi-in-Davos-LIVE-PM-to-address-World-Economic-Fo.html|url-status=live}}</ref>
In 2019, Brazilian President [[Jair Bolsonaro]] gave the keynote address at the plenary session of the conference. On his first international trip to Davos, he emphasized liberal economic policies despite his populist agenda, and attempted to reassure the world that [[Brazil]] is a protector of the [[rain forest]] while utilizing its resources for food production and export. He stated that "his government will seek to better integrate Brazil into the world by mainstreaming international best practices, such as those adopted and promoted by the [[OECD]]".<ref>[https://www.gov.br/mre/en/content-centers/speeches-articles-and-interviews/president-of-the-federative-republic-of-brazil/speeches/discurso-del-presidente-de-la-republica-jair-bolsonaro-durante-la-sesion-plenaria-del-foro-economico-mundial-davos-suiza-22-de-enero-de-2020 Speech by the President of the Republic, Jair Bolsonaro, at the Plenary Session of the World Economic Forum – Davos, Switzerland, January 22, 2019] {{Webarchive|url=https://web.archive.org/web/20221110123623/https://www.gov.br/mre/en/content-centers/speeches-articles-and-interviews/president-of-the-federative-republic-of-brazil/speeches/discurso-del-presidente-de-la-republica-jair-bolsonaro-durante-la-sesion-plenaria-del-foro-economico-mundial-davos-suiza-22-de-enero-de-2020 |date=10 November 2022
The 2021 World Economic Forum was due to be held from 17 to 20 August in [[Singapore]].<ref>{{Cite web |last=Allassan |first=Fadel |title=2021 World Economic Forum to be held in Singapore instead of Davos |url=https://www.axios.com/world-economic-forum-singapore-davos-f3fb535f-4edb-4273-ae30-6a4155c360ce.html |access-date=11 December 2020 |website=Axios |date=7 December 2020 |language=en |archive-date=2 January 2021 |archive-url=https://web.archive.org/web/20210102202619/https://www.axios.com/world-economic-forum-singapore-davos-f3fb535f-4edb-4273-ae30-6a4155c360ce.html |url-status=live
In late December 2021, the World Economic Forum said in a release that pandemic conditions had made it extremely difficult to stage a global in-person meeting the following month; transmissibility of the [[SARS-CoV-2 Omicron variant]] and its impact on travel and mobility had made deferral necessary, with the meeting in Davos eventually rescheduled for 22 to 26 May 2022.<ref>{{Cite web |last=Meredith |first=Sam |date=20 December 2021 |url=https://www.cnbc.com/2021/12/20/davos-world-economic-forum-postpones-meeting-due-to-covid.html |title=World Economic Forum postpones Davos meeting on Covid uncertainty |website=CNBC |access-date=20 December 2021 |archive-date=20 December 2021 |archive-url=https://web.archive.org/web/20211220133051/https://www.cnbc.com/2021/12/20/davos-world-economic-forum-postpones-meeting-due-to-covid.html |url-status=live
Topics in the 2022 annual meeting included the [[Russian invasion of Ukraine]], climate change, energy insecurity and [[inflation]]. Ukraine's president [[Volodymyr Zelenskyy]] gave a special address at the meeting,<ref>[https://nypost.com/2022/05/23/zelensky-urges-maximum-sanctions-on-russia-in-davos-talk/ Zelensky urges 'maximum' sanctions on Russia in Davos talk] {{Webarchive|url=https://web.archive.org/web/20220525045404/https://nypost.com/2022/05/23/zelensky-urges-maximum-sanctions-on-russia-in-davos-talk/ |date=25 May 2022
The 2023 annual meeting of the World Economic Forum took place in [[Davos|Davos, Switzerland]] from
In May 2024, WEF announced that Schwab will move from his role as Executive Chairman to Chairman of the Board of Trustees by January 2025. No successor has been named.<ref>{{Cite web |date=21 May 2024
==Organization==
Headquartered in Cologny, the WEF also has offices in New York, Beijing and Tokyo. In January 2015, it was designated an NGO with "other international body" status by the Swiss Federal Government under the Swiss Host-State Act.<ref>{{Cite web|url=https://www.weforum.org/press/2015/01/world-economic-forum-gains-formal-status-in-switzerland|title=Press Release: World Economic Forum Gains Formal Status in Switzerland |website=World Economic Forum |date=23 January 2015|access-date=11 October 2018|archive-date=11 October 2018|archive-url=https://web.archive.org/web/20181011053821/https://www.weforum.org/press/2015/01/world-economic-forum-gains-formal-status-in-switzerland|url-status=live}}</ref>
On 10 October 2016, the WEF announced the opening of its new [[Center for the Fourth Industrial Revolution]] in San Francisco. According to the WEF, the center will "serve as a platform for interaction, insight and impact on the scientific and technological changes that are changing the way we live, work and relate to one another".<ref>{{Cite web|url=https://www.weforum.org/press/2016/10/new-forum-center-to-advance-global-cooperation-on-fourth-industrial-revolution/|title=New Forum Center to Advance Global Cooperation on Fourth Industrial Revolution|website=World Economic Forum|access-date=20 November 2016|archive-date=20 November 2016|archive-url=https://web.archive.org/web/20161120152702/https://www.weforum.org/press/2016/10/new-forum-center-to-advance-global-cooperation-on-fourth-industrial-revolution/|url-status=live}}</ref>
The World Economic Forum claims to be [[impartial]] and that it is not tied to any political, [[partisan (political)|partisan]], or national interests. Until 2012, it had [[observer status]] with the [[United Nations Economic and Social Council]], when it was revoked; it is under the supervision of the [[Swiss Federal Council]]. The foundation's highest governance body is the foundation board.<ref>{{cite web |url=http://www.weforum.org/content/leadership-team |title=The Leadership Team
The managing board is chaired by the WEF's president, [[Børge Brende]], and acts as the executive body of the World Economic Forum. Managing board members are Børge Brende, Julien Gattoni, Jeremy Jurgens, [[Adrian Monck]], Sarita Nayyar, Olivier M. Schwab, [[Saadia Zahidi]], and Alois Zwinggi.<ref>{{Cite web|url=https://www.weforum.org/about/leadership-and-governance|title=World Economic Forum, Governance and Leadership |website=World Economic Forum |access-date=3 August 2021|archive-date=21 April 2018|archive-url=https://web.archive.org/web/20180421194559/https://www.weforum.org/about/leadership-and-governance|url-status=live}}</ref>
===Board of trustees===
▲[[File:20th Anniversary Schwab Foundation Gala Dinner (43075411050).jpg|thumb|right|[[Klaus Schwab]], founder and executive chairman, World Economic Forum]]
The WEF is chaired by founder and executive chairman Professor [[Klaus Schwab]] and is guided by a board of trustees that is made up of leaders from business, politics, academia and civil society.
As of 2024, the board of trustees is composed of: [[Queen Rania of Jordan]], [[Mukesh Ambani|Mukesh D. Ambani]], [[Ajay Banga|Ajay S. Banga]], [[Marc Benioff]], [[Peter Brabeck-Letmathe]], [[Thomas Buberl]], [[Larry Fink|Laurence D. Fink]], [[Chrystia Freeland]], [[Orit Gadiesh]], [[Kristalina Georgieva]], [[Fabiola Gianotti]], [[Al Gore]], [[André Hoffmann (businessman)|Andre Hoffmann]], [[Paula Ingabire]], [[Joe Kaeser]], [[Christine Lagarde]], [[Yo-Yo Ma]], [[Patrice Motsepe]], [[Ngozi Okonjo-Iweala]], [[Lubna Olayan|Lubna S. Olayan]], [[David Rubenstein|David M. Rubenstein]], [[Ulf Mark Schneider]], [[Klaus Schwab]], [[Tharman Shanmugaratnam]], [[Jim Hagemann Snabe]], [[Julie Sweet]], [[Feike Sijbesma]], [[Heizō Takenaka]] and [[Zhu Min (economist)|Zhu Min]].<ref>{{Cite web |title=Leadership and Governance
Members of the board of trustees (past or present) include: [[Al Gore]], [[Herman Gref]], [[André Hoffmann (businessman)|André Hoffmann]], [[Carlos Ghosn]], [[Christine Lagarde]], [[Chrystia Freeland]], [[David Rubenstein]], [[Ernesto Zedillo]], [[Fabiola Gianotti]], [[Feike Sijbesma]], [[Heizō Takenaka]], [[Indra Nooyi]], [[Jack Ma]], [[Jim Hagemann Snabe]], [[José Ángel Gurría]], [[Josef Ackermann]], [[Klaus Schwab]], [[Kofi Annan]], [[Larry Fink|Laurence Fink]], [[Leo Rafael Reif]], [[Luis Alberto Moreno]], [[Marc Benioff]], [[Mark Carney]], [[Maurice Lévy (Publicis)|Maurice Lévy]], [[Michael Dell]], [[Mukesh Ambani]], [[Muriel Pénicaud]], [[Niall FitzGerald]], [[Orit Gadiesh]], [[Peter Brabeck-Letmathe]], [[Peter Maurer]], [[Queen Rania of Jordan]], [[Rajat Gupta]], [[Susan Hockfield]], [[Tharman Shanmugaratnam]], [[Tony Blair]], [[Ulf Mark Schneider|Mark Schneider]], [[Ursula von der Leyen]], [[Yo-Yo Ma]], [[Zhu Min (economist)|Zhu Min]], Ivan Pictet, Joseph P. Schoendorf Peter D. Sutherland and Victor L. L. Chu
===Membership===
The foundation is funded by its 1,000 member companies, typically global enterprises with more than five billion dollars in turnover (varying by industry and region). These enterprises rank among the top companies within their industry and/or country and play a leading role in shaping the future of their industry and/or region. Membership is stratified by the level of engagement with forum activities, with the level of membership fees increasing as participation in meetings, projects, and initiatives rises.<ref>{{cite web |url=http://www.weforum.org/members |title=Members
==Activities==
===Annual meeting in Davos===
[[File:20240116 Davos equilibrio para la amazonia Wef-Juan Diego Cano00035 (53467994886).jpg|thumb|One of the sessions at the annual meeting, 2024]]
The flagship event of the World Economic Forum is the invitation-only annual meeting held at the end of January in Davos, Switzerland, bringing together chief executive officers from its 1,000 member companies, as well as selected politicians, representatives from [[academia]], [[NGOs]], religious leaders, and the media in an [[Swiss Alps|alpine]] environment. The winter discussions ostensibly focus around key issues of global concern (such as the [[globalization]], capital markets, wealth management, international conflicts, environmental problems and their possible solutions).<ref name=pigman1 /><ref>[http://news.bbc.co.uk/2/hi/business/7830834.stm "Q&A: World Economic Forum 2009"] {{webarchive |url=https://web.archive.org/web/20160923021241/http://news.bbc.co.uk/2/hi/business/7830834.stm |date=23 September 2016}} ''[[BBC News]]''. Retrieved 25 January 2011.</ref> The participants also take part in role playing events, such as the Investment Heat Map.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-21197174 |title=Davos Man eyes investment opportunities |access-date=23 February 2015 |url-status=live |archive-url=https://web.archive.org/web/20160104193156/http://www.bbc.co.uk/news/business-21197174 |archive-date=4 January 2016 |work=BBC News |date=26 January 2013 |last=Madslien |first=Jorn}}</ref> Informal winter meetings may have led to as many ideas and solutions as the official sessions.<ref>Weber, Tim (26 January 2010). [http://news.bbc.co.uk/2/hi/business/7201300.stm "A Beginners' Guide to Davos"] {{webarchive |url=https://web.archive.org/web/20160923022240/http://news.bbc.co.uk/2/hi/business/7201300.stm |date=23 September 2016}} ''[[BBC News]]''. Retrieved 25 January 2011.</ref>
At the 2018 annual meeting, more than 3,000 participants from nearly 110 countries participated in over 400 sessions. Participation included more than 340 public figures, including more than 70 heads of state and government and 45 heads of international organizations; 230 media representatives and almost 40 cultural leaders were represented.<ref>{{Cite web|url=https://www.weforum.org/press/2018/01/forum-closes-with-call-to-action-globalize-compassion-and-leave-no-one-behind|title=Forum Closes with Call to Action: Globalize Compassion and Leave No One Behind |website=World Economic Forum |date=26 January 2018|access-date=16 October 2018|archive-date=16 October 2018|archive-url=https://web.archive.org/web/20181016203258/https://www.weforum.org/press/2018/01/forum-closes-with-call-to-action-globalize-compassion-and-leave-no-one-behind|url-status=live}}</ref>
[[File:Flickr - World Economic Forum - Media Centre - World Economic Forum Annual Meeting Davos 2007.jpg|thumb|Inside the media centre, 2007]]
As many as 500 journalists from online, print, radio, and television take part, with access to all sessions in the official program, some of which are also [[webcast]].<ref>{{cite web |url=http://www.weforum.org/en/events/ArchivedEvents/AnnualMeeting2008/ |title=Forum's homepage |
{| class="wikitable mw-collapsible" id="plenaries"
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! scope="row" | 2022
| 22–26 May
| History at a Turning Point: Government Policies and Business Strategies<ref>{{cite web|url=https://www.weforum.org/agenda/2022/05/davos-2022-whos-coming-and-everything-else-you-need-to-know|title=Davos 2022: Who's coming and everything else you need to know |website=
|-
! scope="row" | 2023
| 16–20 January
| Cooperation in a Fragmented World<ref>{{cite web|url=https://www.weforum.org/events/world-economic-forum-annual-meeting-2023|title=World Economic Forum Annual Meeting 2023 |website=
|-
! Scope="row" | 2024
| 15–19 January
| Rebuilding Trust<ref>{{Cite web |last=Falk |first=Thomas O. |title=Is the World Economic Forum still relevant? |url=https://www.aljazeera.com/news/2024/1/14/is-the-world-economic-forum-still-relevant |access-date=
|}
====Individual participants====
[[File:Juan Manuel Santos Calderón - World Economic Forum on Latin America 2010.jpg|thumb|right|[[Juan Manuel Santos]], [[president of Colombia]], at the 2010 World Economic Forum]]
Some 3,000 individual participants joined the 2020 annual meeting in Davos. Countries with the most attendees include the [[United States]] (674 participants), the [[United Kingdom]] (270), [[Switzerland]] (159), [[Germany]] (137) and [[India]] (133).<ref>{{cite web |url=https://www.statista.com/chart/7609/most-attendees-at-davos/ |title=World Economic Forum – Who's Going to Davos? |date=20 January 2020 |access-date=28 June 2020 |archive-date=28 June 2020 |archive-url=https://web.archive.org/web/20200628141546/https://www.statista.com/chart/7609/most-attendees-at-davos/ |url-status=live
[[File:Isaac Herzog in Davos, January 2024 (GPOABG231).jpeg|thumb|right|Israeli President [[Isaac Herzog]] at the 2024 World Economic Forum]]
An analysis by ''[[The Economist]]'' from 2014 found that the vast majority of participants are male and more than 50 years old. Careers in business account for most of the participants' backgrounds (1,595 conference attendees), with the remaining seats shared between government (364), NGOs (246) and press (234). Academia, which had been the basis of the first annual conference in 1971, had been marginalised to the smallest participant group (183 attendees).<ref name="Econ-Magic">{{cite news |url=https://www.economist.com/international/2014/01/23/whos-on-the-magic-mountain |title=The data of Davos – Who's on the Magic Mountain? |newspaper=The Economist |access-date=28 June 2020 |date=23 January 2014 |archive-date=20 May 2020 |archive-url=https://web.archive.org/web/20200520093511/https://www.economist.com/international/2014/01/23/whos-on-the-magic-mountain |url-status=live
====Corporate participants====
Next to individual participants, the World Economic Forum maintains a dense network of corporate partners that can apply for different partnership ranks within the forum.<ref>{{Cite web|url=https://www.weforum.org/partners/|title=Partners|website=World Economic Forum|access-date=21 July 2021|archive-date=21 July 2021|archive-url=https://web.archive.org/web/20210721075341/https://www.weforum.org/partners|url-status=live}}</ref> For 2019, [[Bloomberg L.P.|Bloomberg]]
===Summer annual meeting===
In 2007, the foundation established the Annual Meeting of the New Champions (also called Summer Davos), held annually in China, alternating between [[Dalian]] and [[Tianjin]], bringing together 1,500 participants from what the foundation calls Global Growth Companies, primarily from rapidly growing emerging countries such as China, Russia, [[Mexico]], and [[Brazil]], but also including quickly growing companies from [[developed countries]]. The meeting also engages with the next generation of global leaders from fast-growing regions and competitive cities, as well as technology pioneers from around the globe.<ref>{{cite news |url=http://english.peopledaily.com.cn/90001/90778/6228850.html |title=Summer Davos To Put Dalian on Business Map |
===Regional meetings===
[[File:India in the New Global Reality Economic Summit 2011.jpg|thumb
Every year regional meetings take place, enabling close contact among corporate business leaders, local government leaders, and NGOs. Meetings are held in Africa, East Asia, Latin America, and the Middle East. The mix of hosting countries varies from year to year, but consistently China and India have hosted throughout the decade since 2000.<ref>{{cite web |url=http://www.weforum.org/en/events/ |title=World Economic Forum – Events |
===Young Global Leaders===
{{Main|Young Global Leaders}}
The group of Young Global Leaders consists of 800 people chosen by the WEF organizers as being representative of contemporary leadership. After five years of participation they are considered alumni.<ref>{{cite web |url=http://www.weforum.org/community/forum-young-global-leaders |title=Forum of Young global Leaders |
===Social entrepreneurs===
Since 2000, the WEF has been promoting models developed by those in close collaboration with the [[Schwab Foundation for Social Entrepreneurship]],<ref>{{cite web |url=http://www.schwabfound.org/ |title=Schwab Foundation for Social Entrepreneurship – Home |
===Research reports===
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The foundation also acts as a [[think tank]], publishing a wide range of reports. In particular, "Strategic Insight Teams" focus on producing reports of relevance in the fields of competitiveness, global risks, and [[scenario planning|scenario thinking]].{{Citation needed|date=June 2024}}
The "Competitiveness Team"<ref>{{cite web |url=http://www.weforum.org/en/initiatives/gcp/index.htm |title=Issues
The "Risk Response Network"<ref>{{cite web |url=http://www.weforum.org/en/initiatives/globalrisk/index.htm |title=Global Risks
In 2020, the forum published a report entitled ''Nature Risk Rising: Why the Crisis Engulfing Nature Matters for Business and the Economy''.<ref name="weforum.org">{{cite web |
===Initiatives===
==== Health ====
On 19 January 2017 the [[Coalition for Epidemic Preparedness Innovations]] (CEPI), a global initiative to fight epidemics, was launched at WEF in Davos. The internationally funded initiative aims at securing vaccine supplies for global emergencies and pandemics, and to research new vaccines for tropical diseases, that are now more menacing. The project is funded by private and governmental donors, with an initial investment of US$460m from the governments of Germany, Japan and Norway, plus the Bill & Melinda Gates Foundation and the Wellcome Trust.<ref>D. G. McNeil Jr (2017). [https://www.nytimes.com/2017/01/18/health/partnership-epidemic-preparedness.html?hpw&rref=health&action=click&pgtype=Homepage&module=well-region®ion=bottom-well&WT.nav=bottom-well Donors and Drug Makers Offer $500 Million to Control Global Epidemics] {{Webarchive|url=https://web.archive.org/web/20171201045140/https://www.nytimes.com/2017/01/18/health/partnership-epidemic-preparedness.html?hpw&rref=health&action=click&pgtype=Homepage&module=well-region®ion=bottom-well&WT.nav=bottom-well |date=1 December 2017
Between 21 and 24 January 2020, at the early stages of the [[COVID-19 pandemic|COVID-19 outbreak]], [[Coalition for Epidemic Preparedness Innovations|CEPI]] met with leaders from [[Moderna]] to establish plans for a [[COVID-19 vaccine]] at the [[Davos, Switzerland|Davos]] gathering,<ref>{{cite web |title=What we know about the Wuhan coronavirus and urgent plans to develop a vaccine for it |url=https://www.weforum.org/agenda/2020/01/wuhan-coronavirus-china-cepi-vaccine-davos/ |website=World Economic Forum |access-date=9 September 2020 |language=en |archive-date=26 August 2020 |archive-url=https://web.archive.org/web/20200826142434/https://www.weforum.org/agenda/2020/01/wuhan-coronavirus-china-cepi-vaccine-davos/ |url-status=live
==== Society ====
The Global Water Initiative brings together diverse stakeholders such as [[Alcan Inc.]], the [[Swiss Agency for Development and Cooperation]], [[USAID]] India, [[UNDP]] India, [[Confederation of Indian Industry]] (CII), Government of [[Rajasthan]], and the [[NEPAD]] Business Foundation to develop public-private partnerships on water management in South Africa and India.{{Citation needed|date=June 2024}}
In an effort to combat corruption, the
==== Environment ====
{{Further|Business action on climate change}}
In the beginning of the 21st century, the forum began to increasingly deal with environmental issues.<ref name="World Economic Forum">{{cite web |title=Environment and Natural Resource Security |url=https://www.weforum.org/agenda/archive/environment-and-natural-resource-security |website=World Economic Forum |access-date=3 May 2020 |archive-date=1 May 2020 |archive-url=https://web.archive.org/web/20200501030906/https://www.weforum.org/agenda/archive/environment-and-natural-resource-security |url-status=live
* "acts as a steward of the environmental and material universe for future generations. It consciously protects our biosphere and champions a circular, shared and regenerative economy."
* "responsibly manages near-term, medium-term and long-term value creation in pursuit of sustainable shareholder returns that do not sacrifice the future for the present."
* "is more than an economic unit generating wealth. It fulfils human and societal aspirations as part of the broader social system. Performance must be measured not only on the return to shareholders, but also on how it achieves its environmental, social and good governance objectives."<ref>{{cite web |last=Schwab |first=Klaus |title=Davos Manifesto 2020: The Universal Purpose of a Company in the Fourth Industrial Revolution |url=https://www.weforum.org/agenda/2019/12/davos-manifesto-2020-the-universal-purpose-of-a-company-in-the-fourth-industrial-revolution/ |website=World Economic Forum |access-date=3 May 2020 |archive-date=10 May 2020 |archive-url=https://web.archive.org/web/20200510170243/https://www.weforum.org/agenda/2019/12/davos-manifesto-2020-the-universal-purpose-of-a-company-in-the-fourth-industrial-revolution/ |url-status=live
The Environmental Initiative covers climate change and water issues. Under the [[2005 G8 Summit|Gleneagles Dialogue on Climate Change]], the [[government of the United Kingdom|U.K. government]] asked the World Economic Forum at the [[31st G8 summit|G8 Summit in Gleneagles in 2005]] to facilitate a dialogue with the business community to develop recommendations for reducing [[greenhouse gas emissions]]. This set of recommendations, endorsed by a global group of CEOs, was presented to leaders ahead of the G8 Summit in [[Toyako]], Hokkaido, Japan held in July 2008.<ref>Black, Richard (20 June 2008). [http://news.bbc.co.uk/2/hi/science/nature/7464517.stm "Business Chiefs Urge Carbon Curbs"] {{webarchive |url=https://web.archive.org/web/20160923021238/http://news.bbc.co.uk/2/hi/science/nature/7464517.stm |date=23 September 2016}} ''[[BBC News]]''. Retrieved 25 January 2011.</ref><ref>Szabo, Michael (19 June 2008). [https://www.reuters.com/article/environmentNews/idUSL1944804220080620?feedType=RSS&feedName=environmentNews "Business Chiefs Call for G8 Climate Leadership"] {{webarchive |url=https://web.archive.org/web/20090131122901/https://www.reuters.com/article/environmentNews/idUSL1944804220080620?feedType=RSS&feedName=environmentNews |date=31 January 2009}} ''[[Reuters]]''. Retrieved 25 January 2011.</ref>
In 2016 WEF published an article in which it is said, that in some cases reducing consumption can increase well-being. In the article is mentioned that in [[Costa Rica]] the GDP is 4 times smaller than in many countries in Western Europe and North America, but people live longer and better. An American study shows that those whose income is higher than $75,000, do not necessarily have an increase in well-being. To better measure well-being, the New Economics Foundation's launched the [[Happy Planet Index]].<ref>{{cite web |last1=Belton |first1=Teresa |title=Why becoming a 'happily modest consumer' could help save the planet |url=https://www.weforum.org/agenda/2016/12/want-to-protect-the-planet-pursue-personal-happiness |website=World Economic Forum |access-date=24 May 2020 |archive-date=18 May 2020 |archive-url=https://web.archive.org/web/20200518094158/https://www.weforum.org/agenda/2016/12/want-to-protect-the-planet-pursue-personal-happiness |url-status=live
In January 2017, WEF launched the
The Forum emphasized its 'Environment and Natural Resource Security Initiative' for the 2017 meeting to achieve inclusive economic growth and sustainable practices for global industries. With increasing limitations on [[International trade|world trade]] through national interests and trade barriers, the WEF has moved towards a more sensitive and socially-minded approach for global businesses with a focus on the reduction of [[carbon emission]]s in China and other large industrial nations.<ref>[https://www.weforum.org/system-initiatives/environment-and-natural-resource-security ''Shaping the Future of Environment and Natural Resource Security''] {{Webarchive|url=https://web.archive.org/web/20170711144259/https://www.weforum.org/system-initiatives/environment-and-natural-resource-security |date=11 July 2017
[[File:Jitendra Singh speaking at “Luncheon Round-table” meet on the topic “Sustainable Production through Fourth Industrial Revolution Innovations”, at the World Economic Forum, at Davos, Switzerland.jpg|thumb|[[Jitendra Singh (politician, born 1956)|Jitendra Singh]] speaking at a luncheon roundtable on the topic "Sustainable Production through Fourth Industrial Revolution Innovations", 2018]]
Also in 2017, WEF launched the [[Fourth Industrial Revolution]] (4IR) for the Earth Initiative, a collaboration among WEF, [[Stanford University]] and [[Pwc|PwC]], and funded through the Mava Foundation<!-- also referred to as the MAVA Foundation -->.<ref>{{Cite news|url=https://www.waterbriefing.org/home/technology-focus/item/14404-new-global-initiative-to-help-harness-4ir-technologies-to-tackle-environmental-issues|title=New global initiative will help harness 4IR technologies tackle environmental issues|last=<!-- no byline -->|date=21 September 2017|work=Waterbriefing|access-date=26 January 2018|archive-date=9 March 2021|archive-url=https://web.archive.org/web/20210309013209/https://www.waterbriefing.org/home/technology-focus/item/14404-new-global-initiative-to-help-harness-4ir-technologies-to-tackle-environmental-issues|url-status=live}}</ref> In 2018, WEF announced that one project within this initiative was to be the [[Earth BioGenome Project]], the aim of which is to sequence the genomes of every organism on Earth.<ref>{{Cite news|url=http://www.drugdevelopment-technology.com/news/project-sequence-genomes-earth-begin-amazon-rainforest/|title=Project to sequence all genomes on Earth to begin in Amazon rainforest|last=Casey|first=JP|date=25 January 2018|work=Drug Development Technology|access-date=26 January 2018|archive-date=27 January 2018|archive-url=https://web.archive.org/web/20180127020517/http://www.drugdevelopment-technology.com/news/project-sequence-genomes-earth-begin-amazon-rainforest/|url-status=live}}</ref>
The World Economic Forum is working to eliminate [[plastic pollution]], stating that by 2050 it will consume 15% of the global [[Emissions budget|carbon budget]] and will pass by its weight fishes in the world's oceans. One of the methods is to achieve [[circular economy]].<ref>{{cite web |
The theme of the 2020 World Economic Forum annual meeting was
In this meeting the World Economic Forum:
* Launched the [[Trillion Tree Campaign]] an initiative aiming to "grow, restore and conserve 1 trillion trees over the next 10 years around the world – in a bid to restore [[biodiversity]] and help fight [[climate change]]". [[Donald Trump]] joined the initiative. The forum stated that: "Nature-based solutions – locking-up carbon in the world's forests, grasslands and wetlands – can provide up to one-third of the emissions reductions required by 2030 to meet the Paris Agreement targets," adding that the rest should come from the heavy industry, finance and transportation sectors. One of the targets is to unify existing [[reforestation]] projects<ref>{{cite web |last1=Pomeroy |first1=Robin |title=One trillion trees – World Economic Forum launches plan to help nature and the climate |url=https://www.weforum.org/agenda/2020/01/one-trillion-trees-world-economic-forum-launches-plan-to-help-nature-and-the-climate |website=World Economic Forum |access-date=12 March 2020 |archive-date=12 March 2020 |archive-url=https://web.archive.org/web/20200312004502/https://www.weforum.org/agenda/2020/01/one-trillion-trees-world-economic-forum-launches-plan-to-help-nature-and-the-climate/ |url-status=live
* Discussed the issue of climate change and called to expanding [[renewable energy]], [[efficient energy use|energy efficiency]] change the patterns of [[Resource consumption|consumption]] and remove carbon from the atmosphere. The forum claimed that the climate crisis will become a [[climate apocalypse]] if the temperature will rise by 2 degrees. The forum called to fulfill the commitments in [[Paris Agreement]]. [[Jennifer Morgan (activist)|Jennifer Morgan]], special representative for international climate policy of the Federal Foreign Office in Germany, said that as to the beginning of the forum, fossil fuels still get three times more money than climate solutions.<ref>{{cite web |last1=Pomeroy |first1=Robin |title=What you need to know about Davos 2020: How to save the planet |url=https://www.weforum.org/agenda/2020/01/how-to-save-the-planet-davos-climate-pollution-what-to-know/ |website=World Economic Forum |access-date=3 May 2020 |archive-date=9 May 2020 |archive-url=https://web.archive.org/web/20200509084225/https://www.weforum.org/agenda/2020/01/how-to-save-the-planet-davos-climate-pollution-what-to-know/ |url-status=live
At the 2021 annual meeting [[UNFCCC]] launched the
===== Coronavirus and green recovery =====
In April 2020, the forum published an article that postulates that the COVID-19 pandemic is linked to the destruction of nature. The number of emerging diseases is rising and this rise is linked to [[deforestation]] and [[species loss]]. In the article, there are multiple examples of the degradation of ecological systems caused by humans. It is also says that half of the global [[GDP]] is moderately or largely dependent on nature. The article concludes that the recovery from the pandemic should be linked to nature recovery.<ref name="weforum.org"/>
The forum proposed a plan for a [[green recovery]]. The plan includes advancing [[circular economy]]. Among the mentioned methods, there is [[green building]], [[sustainable transport]], [[organic farming]], [[urban open space]], [[renewable energy]] and [[electric vehicle]]s.<ref>{{cite web |last=Bleischwitz |first=Raimund |title=COVID-19: 5 ways to create a green recovery |url=https://www.weforum.org/agenda/2020/06/five-ways-to-kickstart-a-green-recovery/ |website=World Economic Forum |access-date=19 July 2020 |archive-date=4 August 2020 |archive-url=https://web.archive.org/web/20200804181309/https://www.weforum.org/agenda/2020/06/five-ways-to-kickstart-a-green-recovery |url-status=live
=== Global Shapers Community ===
The Global Shapers Community (GSC), an initiative of World Economic Forum, selects young leaders below 30 years old to be change agents in the world.<ref>{{Cite web|title=Global Shapers|url=https://www.globalshapers.org/|access-date=26 December 2020|website=Global Shapers|language=en|archive-date=26 December 2020|archive-url=https://web.archive.org/web/20201226062552/https://www.globalshapers.org/|url-status=live}}</ref> Global Shapers develop and lead their city-based hubs to implement social justice projects that advance the mission of World Economic Forum. The GSC has over 10,000 members in 500+ hubs in 154 countries. Some critics see the WEF's increasing focus on activist areas such as [[environmental protection]]<ref>{{cite web |title=Environment and Natural Resource Security |url=https://www.weforum.org/agenda/archive/environment-and-natural-resource-security |website=World Economic Forum |access-date=3 May 2020
=== The Great Reset ===
{{main|The Great Reset}}
In May 2020, the WEF and the [[Charles, Prince of Wales|Prince of Wales]]'s Sustainable Markets Initiative launched "The Great Reset" project, a five-point plan to enhance sustainable economic growth following the global recession caused by the [[COVID-19 pandemic lockdowns]].<ref>{{cite web |last=Pomeroy |first=Robin |title=Klaus Schwab and Prince Charles on why we need a Great Reset |url=https://www.weforum.org/agenda/2020/06/the-great-reset-this-weeks-world-vs-virus-podcast/ |website=World Economic Forum}}</ref><ref>{{cite web|url=https://www.theguardian.com/uk-news/2020/jun/03/pandemic-is-chance-to-reset-global-economy-says-prince-charles|title=Pandemic is chance to reset global economy, says Prince Charles|newspaper=The Guardian|first=Phillip|last=Inman|date=3 June 2020|access-date=3 June 2020|archive-date=17 November 2020|archive-url=https://web.archive.org/web/20201117152600/https://www.theguardian.com/uk-news/2020/jun/03/pandemic-is-chance-to-reset-global-economy-says-prince-charles|url-status=live}}</ref> "The Great Reset" was to be the theme of WEF's annual meeting in August 2021.<ref>{{Cite web |date=
According to forum founder Schwab, the intention of the project is to reconsider the meaning of [[capitalism]] and capital. While not abandoning capitalism, he proposes to change and possibly move on from some aspects of it, including [[neoliberalism]] and [[free-market fundamentalism]]. The role of corporations, taxation and more should be reconsidered. International cooperation and trade should be defended and the [[Fourth Industrial Revolution]] also.<ref>{{cite web |last=Schwab |first=Klaus |title=We must move on from neoliberalism in the post-COVID era |url=https://www.weforum.org/agenda/2020/10/coronavirus-covid19-recovery-capitalism-environment-economics-equality/ |website=World Economic Forum |access-date=29 June 2021 |archive-date=5 July 2021 |archive-url=https://web.archive.org/web/20210705195322/https://www.weforum.org/agenda/2020/10/coronavirus-covid19-recovery-capitalism-environment-economics-equality/ |url-status=live
The forum defines the system that it wants to create as "Stakeholder Capitalism". The forum supports [[trade union]]s.<ref>{{cite web |title=How trade unions lift workers wage |url=https://www.weforum.org/agenda/2021/12/stakeholder-capitalism-episode-2-an-economy-that-works-for-workers/ |website=World Economic Forum |access-date=11 April 2022 |archive-date=11 April 2022 |archive-url=https://web.archive.org/web/20220411070817/https://www.weforum.org/agenda/2021/12/stakeholder-capitalism-episode-2-an-economy-that-works-for-workers/ |url-status=live
==Criticism==
The World Economic Forum (WEF) has faced extensive criticism for fostering elitism, exacerbating inequality, and undermining democracy. Anti-globalisation activists [[#Physical protests|protested the WEF]] in the 1990s and 2000s, blaming capitalism for poverty and environmental harm. Klaus Schwab and senior officials [[#Allegations of employer misconduct and harassment|faced harassment and misconduct allegations]], while NGOs like Oxfam argue the WEF [[#Growing gaps in wealth|worsens inequality]] by concentrating wealth among the richest 1%. Critics also claim it fosters a [[#Formation of a detached elite|detached elite]], [[#Public cost of security|shifts security costs]] to Swiss taxpayers, and perpetuates [[#Gender debate|gender imbalances]]. Accusations include [[#Workplace discrimination|workplace discrimination]], undemocratic practices, and operating as a [[#Lack of financial transparency|"money machine"]]. The WEF is also criticized for its [[#Unclear selection criteria|opaque invitation criteria]], high-carbon [[#Environmental footprint of annual meetings|environmental footprint]], and [[#Corporate capture of global and democratic institutions|favoring corporate interests]] over democracy. Additionally, concerns include [[#Non-accreditation of critical media outlets|media favoritism]], [[#Institutional initiatives|superficial social initiatives]], and [[#Appropriation of global crises|exploiting global crises]] for its own benefit.
===Physical protests===
[[File:Demo-gegen-wef.jpg|thumb|Protest march against the WEF in [[Basel]], 2006]]
During the late 1990s, the WEF, as well as the [[G7]], [[World Bank]], [[World Trade Organization]], and [[International Monetary Fund]], came under heavy criticism by [[anti-globalization]] activists who claimed that capitalism and globalization were increasing poverty and destroying the environment. In 2000, about 10,000 demonstrators [[S11 (protest)|disrupted a regional WEF meeting]] in [[Melbourne]], by obstructing the path of 200 delegates.<ref>Barret, Bernard (15 November 2000). [http://www.australianpolitics.com/pg/groups/barrett-s11-report-2000.shtml "Beating Up – A Report on Police Batons and the News Media at the World Economic Forum, Melbourne, September 2000"] {{webarchive |url=https://web.archive.org/web/20110926220221/http://www.australianpolitics.com/pg/groups/barrett-s11-report-2000.shtml |date=26 September 2011}}. ''[Australian Politics]''. Retrieved 24 August 2011.</ref> Small demonstrations are held in Davos on most but not all years, organised by the local Green Party (see [[Anti-WEF protests in Switzerland, January 2003]]) to protest against what have been called the meetings of "fat cats in the snow", a [[tongue-in-cheek]] term used by rock singer [[Bono]].<ref>Noon, Chris (21 January 2006). [https://www.forbes.com/facesinthenews/2006/01/26/bono-davos-red-cx_cn_0126autofacescan02.html "Bono Teams Up With Amex, Gap For Product Red"] {{webarchive |url=https://web.archive.org/web/20080908033533/http://www.forbes.com/facesinthenews/2006/01/26/bono-davos-red-cx_cn_0126autofacescan02.html |date=8 September 2008}}. ''[[Forbes]]''. Retrieved 25 January 2011.</ref>
After 2014, the physical protest movement against the World Economic Forum largely died down, and [[Swiss police]] noted a significant decline in attending protesters, 20 at most during the meeting in 2016. While protesters are still more numerous in large Swiss cities, the protest movement itself has undergone significant change.<ref>C. Thumshirn (2017). [http://www.nzz.ch/wirtschaft/wef-2017/protest-im-wandel-das-wef-ohne-gegner-ld.139155 Warum das WEF keine Demonstranten mehr anlockt] {{Webarchive|url=https://web.archive.org/web/20170117152100/http://www.nzz.ch/wirtschaft/wef-2017/protest-im-wandel-das-wef-ohne-gegner-ld.139155 |date=17 January 2017
=== Allegations of employer misconduct and harassment ===
On 29 June
In the aftermath of these revelations, some commentators pondered the future of the WEF.<ref>{{Cite web |title=MSN |url=https://www.msn.com/en-us/money/markets/can-the-wef-survive-after-the-new-klaus-schwab-allegations/ar-BB1pbHXS |access-date=5 July 2024
===Growing gaps in wealth===
A number of NGOs have used the World Economic Forum to highlight growing inequalities and [[wealth gap]]s, which they consider to have been neglected, or even to be exacerbated, through institutions like the WEF. [[Winnie Byanyima]], the former executive director of the anti-poverty confederation [[Oxfam International]] co-chaired the 2015 meeting, where she presented a critical report of global wealth distribution based on statistical research by the [[Credit Suisse|Credit Suisse Research Institute]]. In this study, the richest 1% of people in the world own 48% of the world's wealth.<ref>Vara, Vauhini (January 2015). [https://www.newyorker.com/business/currency/critics-oxfams-poverty-statistics-missing-point Critics of Oxfam's Poverty Statistics Are Missing the Point] {{Webarchive|url=https://web.archive.org/web/20190202164133/https://www.newyorker.com/business/currency/critics-oxfams-poverty-statistics-missing-point |date=2 February 2019
"[[You'll own nothing and be happy]]" is a phrase adapted from an essay written by [[Ida Auken]] in 2016 for the WEF, pondering a future in which urban residents would rely on shared services for many expensive items such as appliances and vehicles. Shortly after its publication, a commentator for [[European Digital Rights]] criticized Auken's vision of centralized property ownership as a "[[benevolent dictatorship]]".<ref name="edri-2017">{{cite web |
[[Rutger Bregman]], a Dutch historian invited to a 2018 WEF panel on inequality, went viral when he suggested that the best way for the attendees to attack inequality was to stop avoiding taxes.<ref>{{Cite news |date=30 January 2019
===Formation of a detached elite===
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The formation of a detached elite, sometimes labeled with the [[neologism]] "Davos Man", refers to a global group whose members view themselves as completely "international". The term refers to people who "have little need for national loyalty, view national boundaries as obstacles, and see national governments as residues from the past whose only useful function is to facilitate the elite's global operations" according to political scientist [[Samuel P. Huntington]], who is credited with inventing the neologism.<ref>Timothy Garton Ash. [https://www.theguardian.com/comment/story/0,,1404411,00.html Davos man's death wish] {{webarchive|url=https://web.archive.org/web/20080821094256/http://www.guardian.co.uk/comment/story/0%2C%2C1404411%2C00.html |date=21 August 2008}}, ''[[The Guardian]]'', 3 February 2005</ref> In his 2004 article "Dead Souls: The Denationalization of the American Elite", Huntington argues that this international perspective is a minority elitist position not shared by the nationalist majority of the people.<ref>Samuel Huntington. [http://nationalinterest.org/article/dead-souls-the-denationalization-of-the-american-elite-620 "Dead Souls: The Denationalization of the American Elite"] {{webarchive |url=https://web.archive.org/web/20160914184047/http://nationalinterest.org/article/dead-souls-the-denationalization-of-the-american-elite-620 |date=14 September 2016}}, ''[[The National Interest]]'', Spring 2004</ref>
The [[Transnational Institute]] describes the World Economic Forum's main purpose as being "to function as a socializing institution for the emerging global elite, globalization's "Mafiocracy" of bankers, industrialists, oligarchs, technocrats and politicians. They promote common ideas, and serve common interests: their own."<ref>{{cite web |last1=Marshall |first1=Andrew |title=World Economic Forum: A History and Analysis |url=https://www.tni.org/en/article/world-economic-forum-a-history-and-analysis |website=The Transnational Institute |date=20 January 2015 |access-date=9 August 2021 |archive-date=9 August 2021 |archive-url=https://web.archive.org/web/20210809055744/https://www.tni.org/en/article/world-economic-forum-a-history-and-analysis |url-status=live
In 2019, the ''[[Manager Magazin]]'' journalist Henrik Müller argued that the "Davos Man" had already decayed into different groups and camps. He sees three central drivers for this development:<ref>{{Cite web|url=https://translate.google.com/translate?hl=en&sl=de&u=https://www.manager-magazin.de/politik/weltwirtschaft/wef-in-davos-weltwirtschaftsforum-und-seine-probleme-a-1248970.html&prev=search|title="Davos Man" and his successors|first=Henrik|last=Müller|date=21 January 2019 |access-date=14 June 2020|archive-date=14 June 2020|archive-url=https://web.archive.org/web/20200614163618/https://translate.google.com/translate?hl=en&sl=de&u=https://www.manager-magazin.de/politik/weltwirtschaft/wef-in-davos-weltwirtschaftsforum-und-seine-probleme-a-1248970.html&prev=search|url-status=live}}</ref>
* Ideologically: the liberal western model is no longer considered a universal role model that other countries strive for (with China's digital totalitarianism or the traditional absolutism in the Persian Gulf as counter-proposals, all of which are represented by government members in Davos).
* Socially: societies increasingly disintegrate into different groups, each of which evokes its own identity (e.g. embodied through the Brexit vote or congressional blockades in the
* Economically: the measured economic reality largely contradicts the established ideas of how the economy should actually work (despite economic upswings, wages and prices e.g. barely rise).
===Public cost of security===
[[File:
Critics argue that the WEF, despite having reserves of several hundred million Swiss francs and paying its executives salaries of around 1 million Swiss francs per year, would not pay any federal tax and moreover allocate a part of its costs to the public.<ref>{{Cite web|url=https://www.srf.ch/news/schweiz/geld-fuer-sicherheit-am-wef-knurrende-zustimmung-vom-staenderat-zu-wef-geldern|title=Geld für Sicherheit am WEF – Knurrende Zustimmung vom Ständerat zu WEF-Geldern|date=11 June 2021|website=Schweizer Radio und Fernsehen (SRF)|access-date=13 July 2021|archive-date=13 July 2021|archive-url=https://web.archive.org/web/20210713084558/https://www.srf.ch/news/schweiz/geld-fuer-sicherheit-am-wef-knurrende-zustimmung-vom-staenderat-zu-wef-geldern|url-status=live |language=de}}</ref> Following massive criticism from politicians and the Swiss civil society, the Swiss federal government decided in February 2021 to reduce its annual contributions to the WEF.<ref>{{cite news |title=Bundesrat streicht dem WEF Geld |trans-title=Federal Council cancels WEF funding |url=https://www.suedostschweiz.ch/politik/2021-02-24/bundesrat-streicht-dem-wef-geld |work=[[Die Südostschweiz]] |agency=[[Swiss Telegraphic Agency|sda]] |date=24 February 2021 |language=de |access-date=12 July 2021 |archive-date=12 July 2021 |archive-url=https://web.archive.org/web/20210712121842/https://www.suedostschweiz.ch/politik/2021-02-24/bundesrat-streicht-dem-wef-geld |url-status=live
As of 2018, the police and military expenditures carried by the federal government stood at 39 million Swiss francs.<ref>[https://www.srf.ch/news/schweiz/abstimmungen/abstimmungen/abstimmungen-davos/davos-stimmt-ab-mehr-geld-fuer-das-wef Davos stimmt ab – Mehr Geld für das WEF] {{Webarchive|url=https://web.archive.org/web/20190123223146/https://www.srf.ch/news/schweiz/abstimmungen/abstimmungen/abstimmungen-davos/davos-stimmt-ab-mehr-geld-fuer-das-wef |date=23 January 2019
The Swiss Green Party summarised their criticism within the Swiss National Council that the holding of the World Economic Forum has cost Swiss taxpayers hundreds of millions of Swiss francs over the past decades. In their view, it was however questionable to what extent the Swiss population or global community benefit from these expenditures.<ref name="Geschäft Ansehen">{{Cite web|url=https://www.parlament.ch/de/ratsbetrieb/suche-curia-vista/geschaeft?AffairId=20203289|title=20.3289 {{!}} Was nützt das WEF der Schweizer Bevölkerung?|website=Das Schweizer Parlament|language=de|access-date=25 July 2021|archive-date=25 July 2021|archive-url=https://web.archive.org/web/20210725104724/https://www.parlament.ch/de/ratsbetrieb/suche-curia-vista/geschaeft?AffairId=20203289|url-status=live}}</ref>
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===Gender debate===
{{further|Gender bias}}
Women have been broadly underrepresented at the WEF, according to some critics. The female participation rate at the WEF increased from 9% to 15% between 2001 and 2005. In 2016, 18% of the WEF attendees were female; this number increased to 21% in 2017, and 24% in 2020.<ref>A. Gibbs (2017). [https://www.cnbc.com/2017/01/16/as-world-leaders-descend-upon-wef-2017-in-davos-the-gender-debate-rumbles-on.html As world leaders descend upon Davos, the gender debate rumbles on] {{Webarchive|url=https://web.archive.org/web/20171020170507/https://www.cnbc.com/2017/01/16/as-world-leaders-descend-upon-wef-2017-in-davos-the-gender-debate-rumbles-on.html |date=20 October 2017
Several women have since shared their personal impressions of the Davos meetings in media articles, highlighting that issues were more profound than "a quota at Davos for female leaders or a session on diversity and inclusion".<ref>{{cite web |website=BuzzFeed News |access-date=19 May 2020 |title=What It's Like To Be A Woman At The Old Boys Economic Forum |url=https://www.buzzfeednews.com/article/mariahsummers/what-its-like-to-be-a-woman-at-the-old-boys-economic-forum |first1=Mariah |last1=Summers |first2=Miriam |last2=Elder |date=26 January 2014 |archive-date=9 August 2020 |archive-url=https://web.archive.org/web/20200809091340/https://www.buzzfeednews.com/article/mariahsummers/what-its-like-to-be-a-woman-at-the-old-boys-economic-forum |url-status=live
▲Several women have since shared their personal impressions of the Davos meetings in media articles, highlighting that issues were more profound than "a quota at Davos for female leaders or a session on diversity and inclusion".<ref>{{cite web |website=BuzzFeed News |access-date=19 May 2020 |title=What It's Like To Be A Woman At The Old Boys Economic Forum |url=https://www.buzzfeednews.com/article/mariahsummers/what-its-like-to-be-a-woman-at-the-old-boys-economic-forum |first1=Mariah |last1=Summers |first2=Miriam |last2=Elder |date=26 January 2014 |archive-date=9 August 2020 |archive-url=https://web.archive.org/web/20200809091340/https://www.buzzfeednews.com/article/mariahsummers/what-its-like-to-be-a-woman-at-the-old-boys-economic-forum |url-status=live }}</ref><ref>{{cite web |title='Horizontal trade' looks to upswing at Davos meet |last=Curtis |first=Malcom |website=The Local |access-date=19 May 2020 |url=https://www.thelocal.ch/20140121/horizontal-trade-looks-to-upswing-at-davos |date=21 January 2014 |archive-date=15 June 2020 |archive-url=https://web.archive.org/web/20200615144255/https://www.thelocal.ch/20140121/horizontal-trade-looks-to-upswing-at-davos |url-status=live }}</ref><ref>{{cite web | title = Davos: Impressions of a First-Time Attendee | website = The Journal Blog | access-date = 19 May 2020 | url = https://blog.usejournal.com/davos-283f7fe42c07 | first = Baillie | last = Aaron | date = 22 February 2019 | archive-date = 30 November 2023 | archive-url = https://web.archive.org/web/20231130124258/https://baillieaaron.medium.com/davos-283f7fe42c07 | url-status = live }}</ref> The World Economic Forum has in this context filed legal complaints against at least three investigative articles by reporters Katie Gibbons and Billy Kenber that were published by the British newspaper ''[[The Times]]'' in March 2020, with the articles still online as of January 2024.<ref>{{Cite news | url = https://www.thetimes.co.uk/article/dark-side-of-davos-den-of-prostitution-and-predators-c77qwzd0j | title = The dark side of Davos: A den of prostitution and predators | website = The Times | last1 = Kenber | first1 = Billy | last2 = Gibbons | first2 = Katie | date = 23 March 2020 | access-date = 6 May 2022 | archive-date = 26 May 2022 | archive-url = https://web.archive.org/web/20220526093309/https://www.thetimes.co.uk/article/dark-side-of-davos-den-of-prostitution-and-predators-c77qwzd0j | url-status = live }}</ref><ref>{{Cite news | url = https://www.thetimes.co.uk/article/davos-investigation-at-parties-and-events-men-tried-to-get-sex-m8w5fck89 | title = Davos investigation: At parties and events, men tried to get sex | last1 = Gibbons | first1 = Katie | last2 = Kenber | first2 = Billy | date = 23 March 2020 | access-date = 6 May 2022 | website = The Times | archive-date = 24 May 2022 | archive-url = https://web.archive.org/web/20220524095656/https://www.thetimes.co.uk/article/davos-investigation-at-parties-and-events-men-tried-to-get-sex-m8w5fck89 | url-status = live }}</ref><ref>{{Cite news | website = The Times | url = https://www.thetimes.co.uk/article/businessman-left-davos-party-deciding-no-good-could-come-of-this-083s9hsnv | title = Davos investigation: Champagne flowed and music played as women greeted guests | last1 = Kenber | first1 = Billy | last2 = Gibbons | first2 = Katie | date = 24 March 2020 | access-date = 6 May 2022 | archive-date = 30 December 2021 | archive-url = https://web.archive.org/web/20211230161613/https://www.thetimes.co.uk/article/businessman-left-davos-party-deciding-no-good-could-come-of-this-083s9hsnv | url-status = live }}</ref><ref>{{Cite news|url=https://www.thetimes.co.uk/article/client-offered-me-prostitutes-at-davos-party-says-consultant-8n8k269m5|title=Client offered me prostitutes at Davos party, says consultant|first1=Billy|last1=Kenber|first2=Katie|last2=Gibbons|work=[[The Times]]|date=23 March 2020|access-date=6 May 2022|archive-date=25 May 2022|archive-url=https://web.archive.org/web/20220525075651/https://www.thetimes.co.uk/article/client-offered-me-prostitutes-at-davos-party-says-consultant-8n8k269m5|url-status=live}}</ref>
===Workplace discrimination===
According to ''The Wall Street Journal'', the WEF has had numerous accusations of workplace discrimination against women and [[Black people]].<ref>{{Cite web|date=29 June
===Undemocratic decision making===
According to the [[European Parliamentary Research Service|European Parliament's think tank]], critics see the WEF as an instrument for political and business leaders to "take decisions without having to account to their electorate or shareholders".<ref>{{cite web | url = https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_BRI(2016)573928 | title = The World Economic Forum: Influential and controversial |
Since 2009, the WEF has been working on a project called the Global Redesign Initiative (GRI), which proposes a transition away from intergovernmental decision-making towards a system of [[multi-stakeholder governance]]. According to the [[Transnational Institute|Transnational Institute (TNI)]], the Forum is hence planning to replace a recognised democratic model with a model where a self-selected group of "stakeholders" make decisions on behalf of the people.<ref name="Davos and its danger to Democracy">{{cite web | url = https://www.tni.org/en/article/davos-and-its-danger-to-democracy | title = Davos and its danger to Democracy |
Some critics have seen the WEF's attention to goals like [[environmental protection]] and [[social entrepreneurship]] as mere window dressing to disguise its true [[plutocracy|plutocratic]] nature and goals.<ref name="Meyer">{{Cite web |last=Meyer |first=Frank A. |date=26 May 2021 |url=https://www.cicero.de/wirtschaft/meinungsherrschaft-ziemlich-verstiegen |title=Meinungsherrschaft – Ziemlich verstiegen |website=Cicero Online |language=de |access-date=12 August 2021 |archive-date=12 August 2021 |archive-url=https://web.archive.org/web/20210812143340/https://www.cicero.de/wirtschaft/meinungsherrschaft-ziemlich-verstiegen |url-status=live
=== Lack of financial transparency ===
{{further|Financial transparency}}
In 2017, the former ''[[Frankfurter Allgemeine Zeitung]]'' journalist Jürgen Dunsch criticized that financial reports of the WEF were not very transparent since neither income nor expenditures were broken down. In addition, he outlined that the foundation capital was not quantified while the apparently not insignificant profits would be reinvested.<ref name="SZ-money machine">{{cite news |last=Busse |first=Caspar |title=Das Weltwirtschaftsforum ist zu einer Geldmaschine geworden |trans-title=The World Economic Forum has become a money machine |url=https://www.sueddeutsche.de/wirtschaft/davos-das-weltwirtschaftsforum-ist-zu-einer-geldmaschine-geworden-1.3334817 |work=[[Süddeutsche Zeitung]] |date=17 January 2017 |language=de |access-date=20 May 2020 |archive-date=5 August 2020 |archive-url=https://web.archive.org/web/20200805111333/https://www.sueddeutsche.de/wirtschaft/davos-das-weltwirtschaftsforum-ist-zu-einer-geldmaschine-geworden-1.3334817 |url-status=live
Recent annual reports published by the WEF include a more detailed breakdown of its financials and indicate revenues of CHF 349 million for the year 2019 with reserves of CHF 310 million and a foundation capital of CHF 34 million. There are no further details provided to what asset classes or individual names the WEF allocates its financial assets of CHF 261 million.<ref>{{cite web |url=http://www3.weforum.org/docs/WEF_Annual_Report_18-19.pdf |title=Annual Report 2018–2019 |
The German newspaper ''[[Süddeutsche Zeitung]]'' criticised in this context that the WEF had turned into a "money printing machine", which is run like a family business and forms a comfortable way to make a living for its key personnel. The foundation's founder Klaus Schwab draws a salary of around one million Swiss francs per year.<ref name="SZ-money machine" />
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=== Corporate capture of global and democratic institutions ===
The World Economic Forum's "Global Redesign" report suggests to create "public-private" [[United Nations]] (UN) in which selected agencies operate and steer global agendas under shared governance systems.<ref name="Martens">{{cite book |last=Martens |first=Jens |chapter-url=https://link.springer.com/chapter/10.1007/978-3-030-30469-0_12 |title=Sustainable Development Goals and Human Rights. Interdisciplinary Studies in Human Rights |chapter=The Role of Public and Private Actors and Means in Implementing the SDGs: Reclaiming the Public Policy Space for Sustainable Development and Human Rights |editor-last1=Kaltenborn |editor-first1=M. |editor-last2=Krajewski |editor-first2=M. |editor-last3=Kuhn |editor-first3=H. |publisher=Springer |location=Cham |year=2020 |volume=5 |pages=207–220 |doi=10.1007/978-3-030-30469-0_12 |isbn=978-3-030-30468-3 |s2cid=213580432 |access-date=17 August 2021 |archive-date=17 August 2021 |archive-url=https://web.archive.org/web/20210817101705/https://link.springer.com/chapter/10.1007/978-3-030-30469-0_12 |url-status=live
In September 2019, more than 400 civil society organizations and 40 international networks heavily criticised a partnership agreement between WEF and the United Nations and called on the [[UN Secretary-General]] to end it.<ref>{{Cite web|url=https://www.cognitoforms.com/MultistakeholderismActionGroup/CorporateCaptureOfGlobalGovernanceTheWorldEconomicForumWEFUNPartnershipAgreementIsADangerousThreatToUN|title=Corporate capture of global governance: The World Economic Forum (WEF)-UN partnership agreement is a dangerous threat to UN System|website=www.cognitoforms.com|access-date=14 August 2021|archive-date=22 August 2021|archive-url=https://web.archive.org/web/20210822032237/https://www.cognitoforms.com/MultistakeholderismActionGroup/CorporateCaptureOfGlobalGovernanceTheWorldEconomicForumWEFUNPartnershipAgreementIsADangerousThreatToUN|url-status=live}}</ref> They see such an agreement as a "disturbing corporate capture of the UN, which moved the world dangerously towards a privatised global governance".<ref>{{Cite web|url=http://fian.org/en/press-release/article/wef-takeover-of-un-strongly-condemned-2273|title=WEF takeover of UN strongly condemned|website=fian.org|date=16 January 2020 |access-date=15 August 2021|archive-date=15 August 2021|archive-url=https://web.archive.org/web/20210815154607/https://fian.org/en/press-release/article/wef-takeover-of-un-strongly-condemned-2273|url-status=live}}</ref> The Dutch Transnational Institute think tank summarises that we are increasingly entering a world where gatherings such as Davos are "a silent global [[coup d'état]]" to capture governance.<ref name="Davos and its danger to Democracy"/>
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=== Institutional initiatives ===
In addition to economic policy, the WEF's agenda is in recent years increasingly focusing on positively connoted activist topics such as [[environmental protection]]<ref name="World Economic Forum"/> and [[social entrepreneurship]],<ref>{{cite web|title=Schwab Foundation for Social Entrepreneurship – Home|website=Schwabfound.org|publisher=|url=http://www.schwabfound.org/|format=|access-date=|last=|date=|year=|language=|pages=|quote=|archive-date=4 May 2019|archive-url=https://web.archive.org/web/20190504005120/http://www.schwabfound.org/|url-status=live}}</ref> which critics see as a strategy to disguise the organisation's true [[plutocracy|plutocratic]] goals.<ref>{{cite web | url = https://www.theguardian.com/commentisfree/2020/jan/25/davos-world-economic-forum-capitalism-plutocracy | title = The high priests of plutocracy all meet in Davos. What good can come from that? | work = The Guardian | date = 25 January 2020 | access-date = 24 September 2021 | archive-date = 24 September 2021 | archive-url = https://web.archive.org/web/20210924150239/https://www.theguardian.com/commentisfree/2020/jan/25/davos-world-economic-forum-capitalism-plutocracy | url-status = live
In a December 2020 article by ''[[The Intercept]]'', author [[Naomi Klein]] described that the WEF's initiatives like the "Great Reset" were simply a "coronavirus-themed rebranding" of things that the WEF was already doing and that it was an attempt by the rich to make themselves look good. In her opinion, "the Great Reset is merely the latest edition of this gilded tradition, barely distinguishable from earlier Davos Big Ideas.<ref name="intercept120820">{{cite news |last1=Klein |first1=Naomi |title=The Great Reset Conspiracy Smoothie |url=https://theintercept.com/2020/12/08/great-reset-conspiracy/ |access-date=14 December 2020 |work=The Intercept |date=8 December 2020 |archive-date=13 December 2020 |archive-url=https://web.archive.org/web/20201213162038/https://theintercept.com/2020/12/08/great-reset-conspiracy/ |url-status=live|quote=Writing about 'The Great Reset' is not easy. It has turned into a viral conspiracy theory purporting to expose something no one ever attempted to hide, most of which is not really happening anyway, some of which actually should.}}</ref>
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Similarly, in his review of ''COVID-19: The Great Reset'', ethicist Steven Umbrello makes parallel critiques of the agenda. He says that the WEF "whitewash[es] a seemingly optimistic future post-Great Reset with buzz words like equity and sustainability" while it functionally jeopardizes those goals.<ref>{{Cite journal|last=Umbrello|first=Steven|date=17 February 2021|title=Should We Reset? A Review of Klaus Schwab and Thierry Malleret's 'COVID-19: The Great Reset'|url= |journal=The Journal of Value Inquiry|volume=56 |issue=4 |pages=693–700|language=en|doi=10.1007/s10790-021-09794-1|issn=1573-0492|pmc=7886645}}</ref>
A study published in the [[Journal of Consumer Research]] investigated the sociological impact of the WEF. It concluded that the WEF do not solve issues such as poverty, global warming, chronic illness, or debt. The Forum has, according to the study, simply shifted the burden for the solution of these problems from governments and business to "responsible consumers subjects: the green consumer, the health-conscious consumer, and the financially literate consumer."<ref>{{Cite news |url=https://www.jstor.org/stable/10.1086/677842 |title=Creating the Responsible Consumer: Moralistic Governance Regimes and Consumer Subjectivity |date=28 August 2021 |work=Blick |doi=10.1086/677842 |jstor=10.1086/677842 |language=en |last1=Giesler |first1=Markus |last2=Veresiu |first2=Ela |volume=41 |issue=3 |pages=840–857 |access-date=28 August 2021 |archive-date=28 August 2021 |archive-url=https://web.archive.org/web/20210828083124/https://www.jstor.org/stable/10.1086/677842 |url-status=live
=== Appropriation of global crises ===
In December 2021, the Catholic Cardinal and former [[Prefect]] of the [[Congregation for the Doctrine of the Faith]] (CDF) [[Gerhard Ludwig Müller]] criticised in a controversial interview that people like WEF founder Schwab were sitting "on the throne of their wealth" and were not touched by the everyday difficulties and sufferings people face e.g. due to the COVID-19 pandemic. On the contrary, such elites would see crises as an opportunity to push through their agendas. He particularly criticised the control such people would exercise on people and their embracement of areas such as [[transhumanism]].<ref>{{cite web|title=Vatican Court judge criticizes Bill Gates, George Soros and Klaus Schwab for using Covid to impose 'total control' on population|periodical=The Rio Times|publisher=|url=https://www.riotimesonline.com/brazil-news/modern-day-censorship/vatican-court-judge-criticizes-bill-gates-george-soros-and-klaus-schwab-for-using-covid-to-impose-total-control-on-population/|format=|access-date=|last=The Rio Times|date=
On the other hand, the WEF has been criticized as "hypocritical" towards Palestinian human rights, when it rejected a petition from its own constituents to condemn Israel's aggression against Palestinians.<ref>{{cite news |last1=Jamal |first1=Hebh |date=19 January 2023 |title=Ukraine a 'special case': Is the WEF 'hypocritical' on Palestine? |
===Management of archaeological sites===
In 2016 project management of the [[Göbeklitepe]] site transferred to the Doğuş Group, a Turkish conglomerate, with WEF also having an unclarified management input. The announcement of Dogus Group taking over the Göbeklitepe site was made at the 2016 World Economic Forum in Davos. A presentation on Göbeklitepe formed a keynote address <ref>[https://www.archaeologynow.org/tiny-lectures/mysterious-gbekli-tepe]</ref> and ice statue replicas of parts of temple complex were installed outside the Davos Congress Centre. <ref>
==Controversies==
=== Davos municipality ===
In June 2021, WEF founder Klaus Schwab sharply criticised what he characterized as the "profiteering", "complacency" and "lack of commitment" by the municipality of Davos in relation to the annual meeting. He mentioned that the preparation of the COVID-related meeting in Singapore in 2021/2022<ref>{{cite news |title=WEF Cancels Singapore Meeting as Pandemic Haunts Global Event |first=Catherine |last=Bosley |date=17 May 2021 |work=Bloomberg |url=https://www.bloomberg.com/news/articles/2021-05-17/world-economic-forum-to-cancel-annual-meeting-in-singapore |access-date=30 July 2021 |archive-date=30 July 2021 |archive-url=https://web.archive.org/web/20210730163733/https://www.bloomberg.com/news/articles/2021-05-17/world-economic-forum-to-cancel-annual-meeting-in-singapore |url-status=live
=== Usage of "Davos" ===
As there are many other international conferences nicknamed with "Davos" such as the "Davos of the Desert" event organised by [[Saudi Arabia|Saudi Arabia's]] [[Future Investment Initiative Institute]],<ref name="Quartz-18-10-22" /> the World Economic Forum objected to the use of "Davos" in such contexts for any event not organised by them.<ref name="WEF-PR_18-10-22">{{cite press release |title=World Economic Forum Objects to Misuse of the 'Davos' Brand |url=https://www.weforum.org/press/2018/10/world-economic-forum-objects-to-misuse-of-the-davos-brand/ |
==Alternatives==
=== Open Forum Davos ===
Since the annual meeting in January 2003 in Davos, an ''Open Forum Davos'',<ref>{{cite web |url=http://www.openforumdavos.ch/ |title=Open Forum Davos, Schweizerischer Evangelischer Kirchenbund |website=Openforumdavos.ch |access-date=7 March 2010 |archive-url=https://web.archive.org/web/20100202022348/http://www.openforumdavos.ch/ |archive-date=2 February 2010 |url-status=dead}}</ref> which was co-organized by the [[Swiss Reformed Church|Federation of Swiss Protestant Churches]], is held concurrently with the Davos forum, opening up the debate about globalization to the general public. The Open Forum has been held in the local high school every year, featuring top politicians and business leaders. It is open to all members of the public free of charge.<ref name=pigman5>{{cite book |title=The World Economic Forum – A Multi-Stakeholder Approach to Global Governance |last=Pigman |first=Geoffrey Allen |page=130 |year=2007 |isbn=978-0-415-70204-1 |publisher=Routledge |location=London}}</ref><ref>{{cite web |url=https://www.youtube.com/view_play_list?p=78AB043A344C2C6A |title=Open Forum |publisher=YouTube |access-date=7 March 2010 |archive-date=25 January 2011 |archive-url=https://web.archive.org/web/20110125214215/http://www.youtube.com/view_play_list?p=78AB043A344C2C6A |url-status=live
=== Public Eye Awards ===
The [[Public Eye Awards]] have been held every year since 2000. It is a counter-event to the annual meeting of the World Economic Forum (WEF) in Davos. Public Eye Awards is a "public competition of the worst corporations in the world." In 2011, more than 50,000 people voted for companies that acted irresponsibly. At a ceremony at a Davos hotel, the "winners" in 2011 were named as Indonesian [[palm oil]] diesel maker, [[Neste Oil]] in Finland, and mining company [[AngloGold Ashanti]] in South Africa.<ref>{{cite news |last=Lang |first=Olivia |url=http://news.bbc.co.uk/1/hi/business/davos/9379067.stm |title=BBC Davos Day three |publisher=BBC News |date=28 January 2011 |
==See also==
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== General and cited references ==
* [http://99faces.tv/matthiasluefkens/ "How to Open the World Economic Forum"] – Matthias Lüfkens in interview with 99FACES.tv
* [[David Bornstein (author)|Bornstein, David]] (2007). ''How to Change the World: Social Entrepreneurs and the Power of New Ideas''. New York: [[Oxford University Press]]. {{ISBN|978-0-19-533476-0}}. {{OCLC|141483455}}. 358 pages.
* [https://archive.today/20121208190718/http://www.cbsnews.com/stories/2010/02/12/60minutes/main6202302.shtml?tag=currentVideoInfo;segmentUtilities "Behind the Scenes at Davos"] broadcast 14 February 2010 on ''[[60 Minutes]]'', [[CBS News]]
* [[Barbara Kellerman (academic)|Kellerman, Barbara]] (1999). ''Reinventing Leadership: Making the Connection Between Politics and Business''. Albany, New York: [[State University of New York Press]]. {{ISBN|978-0-7914-4071-1}}. {{OCLC|40052233}}. 268 pages.
* [[Mike Moore (New Zealand politician)|Moore, Mike]] (2003). ''A World Without Walls: Freedom, Development, Free Trade and Global Governance''. Cambridge; New York: [[Cambridge University Press]]. {{ISBN|978-0-521-82701-0}}. {{OCLC|59364028}}. 292 pages.
*
* [[David Rothkopf|Rothkopf, David J.]] (2008). ''Superclass: The Global Power Elite and the World They Are Making''. New York: [[Farrar, Straus and Giroux]]. {{ISBN|978-0-374-27210-4}}. {{OCLC|166378239}}. 376 pages.
* [[Klaus Schwab|Schwab, Klaus M.]];
* [https://web.archive.org/web/20130407100645/http://www.weforum.org/reports/everybody%E2%80%99s-business-strengthening-international-cooperation-more-interdependent-world "Everybody's Business: Strengthening International Cooperation in a More Interdependent World"]—World Economic Forum; launched May 2010, Doha, Qatar
*
==External links==
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{{Spoken Wikipedia|World_Economic_Forum_1.ogg|date=29 January 2016}}
* {{Official website}}
{{Belt and Road Initiative}}
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