10 proposals for the 10 challenges of Davos

At a time when global civic society is looking towards Davos, NESI Global Forum offers 10 answers that the new economy and social innovation can give to the challenges of Globalization 4.0. These respond to the 10 main risks included in the Global Risk Report 2019 of the World Economic Forum, which this year focuses on climate change and the environment, cybersecurity, migration, water crisis and economic crisis.

1. New Economy

The economy cannot have a short-term focus, but should have a long-term one, to contribute to the common good, reduce inequalities and pursue human development and welfare.

2. Geopolitics

Democracy and respect for human rights must prevail in all relations between countries, promoting equality and integrity of people against purely economic interests.

3. Human capital

In the face of digitalization and robotization of employment, the labour market must provide decent work, which respects human rights and promotes personal development. A new economy is needed, one that guarantees the pre-distribution and redistribution of existing resources, considering the needs of future generations, as well as adaptation and training to new needs.

4.Industry 4.0 and digitalization

Globalization 4.0 focuses on the humanization of the Fourth Industrial Revolution, in which people are the centre of any transformation.

5. Change climate and environment

The future of the economy involves adaptation of all activity to respect the environmental, decarbonization of the economy to curb global warming (as promoted by the Paris Agreement) the promotion of a circular economy, and regeneration of ecosystems.

6. Inequality

Since the crisis of 2008, inequality has increased throughout the world, and economic growth is not enough to reduce poverty if the social and environmental dimensions of the economy for the redistribution of wealth are not taken into account. Therefore, sustainable development must be the axis on which to build the new economy.

7. Fight against hunger

According to FAO, hunger continues to grow in the world, with 821 million people experiencing hunger. In addition, 892 million people do not have access to water. To address this problem, included in the SDGs, profound changes are needed in international trade agreements, agricultural subsidies policies and water management.

8.Refugees and migration

The number of refugees in the world continues to grow. In 2017, according to the annual report ‘Global Trends of UNHCR’, 68.7 million people had been forced to flee, which means an average of one every two seconds. The right to asylum is one of the 30 articles of the Declaration of Human Rights that all countries and companies have to comply with.

9. Social innovation

The challenges of globalization need innovative solutions to face social and environmental challenges. The collaborative economy or the culture of “do it yourself” is transforming the role of citizens and consumers, who, for example, have become producers of solar energy and demand greater commitment from companies.

10.Sustainable Development Goals (SDGs)

The 17 SDGs, approved by the UN in September 2015, have to be incorporated by companies, governments and NGOs and integrated into activities. They are the road map of sustainable development until 2030 to fight against poverty and hunger, promote equality, extend education and take care of the planet, and require the combined efforts of all civil society actors.
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