The emblem of the World Economic Forum is pictured on a window of the Congress Center in Davos, Switzerland, on Monday at the beginning of 53rd annual assembly of the WEF. Photo by Laurent Gillieron/EPA-EFE

“So much is at stake we really need to find solutions on the wars and conflicts. We also have to secure that we don’t go into recession and we have ten years of low growth as we had in the 1970s,” World Economic Forum President Børge Brende said during Monday’s opening ceremony.

More than 2,700 leaders from 130 international locations at the moment are within the resort city within the Swiss Alps for the most recent version of the week-long summit, where discussions targeted on local weather change are anticipated to dominate this system. The WEF was based in Geneva in 1971.

The program itself features 5 key pillars. They embody addressing the present vitality and meals crises and high-inflation, low-growth, high-debt financial system, in addition to a brand new system for harnessing frontier applied sciences, present social vulnerabilities and a dialogue on present geopolitical dangers.

“The richest 1% grabbed two-thirds of all new wealth since 2020. So that’s double, almost double, what 99% of humanity had in terms of new wealth during that time,” Oxfam International Executive Director Gabriela Bucher said in a statement.

More than 50 finance ministers, 19 central financial institution heads, 30 commerce ministers, and 35 international ministers are additionally attending the assembly.

Joining the politicians and bureaucrats are greater than 1,500 enterprise leaders and 90 innovators — the discussion board’s largest-ever such contingent.

The presence of business leaders on the occasion is stoking fears of “greenwashing” amongst local weather activists.

“Oil and gas CEOs are invited into the forum to greenwash their businesses,” Ugandan local weather activist Vanessa Nakate told reporters in the days leading up to the convention. “It’s not hard to be cynical about the prospects for climate justice after spending a week there.”

Those sentiments are anticipated to be front-and-center amongst environmentalists at Davos this week. Hundreds of such activists are anticipated to protest towards world firms attending the summit.

Swiss authorities tightened security however have cautioned that demonstrators might try to dam the principle freeway resulting in Davos. Thousands of further safety personnel are on the bottom within the city, organising checkpoints on routes into the resort city, and limiting site visitors on sure roads within the middle, officers stated.