Link to WEF Resources, Documents, and Criticism

 

The World Economic Forum (WEF) is an international non-governmental organization founded in 1971 by German economist Klaus Schwab[2][5].

Headquartered in Geneva, Switzerland, the WEF is a not-for-profit foundation that aims to improve the world by engaging leaders from various sectors to shape global, regional, and industry agendas[1][2].

Mission and Purpose

The WEF's primary mission is to serve as a platform for public-private cooperation, bringing together political, business, academic, and civil society leaders to address pressing global issues[1].

The organization believes in the power of human ingenuity, entrepreneurship, innovation, and cooperation to drive positive change in the world[1].

Annual Meeting in Davos

The WEF is best known for its annual meeting held in Davos, Switzerland, typically in late January[2][4]. This event attracts approximately 2,500 participants from over 100 countries, including business executives, political leaders, economists, celebrities, and journalists[2][5].

The Davos meeting provides a unique opportunity for global decision-makers to discuss and address critical world issues, ranging from economic and political concerns to environmental and social challenges[4].

Key Activities and Initiatives

1. Global Agenda Setting

The WEF works to identify and analyze global, regional, and industry challenges, aiming to stimulate dialogue and action on these issues[1].

2. Research and Reports

The organization produces research and insights on various topics of global importance[2].

3. Project Initiatives

The WEF runs several ongoing projects addressing specific global concerns, such as climate change, the Fourth Industrial Revolution, and global security[2].

4. Stakeholder Capitalism

In 2020, the WEF issued a new Davos Manifesto promoting the concept of stakeholder capitalism, which emphasizes corporate responsibility to all stakeholders, including employees, society, and the environment[4].

Structure and Funding

The WEF is funded primarily by its 1,000 member companies, which are typically global enterprises with annual turnovers exceeding $5 billion[5]. It also receives public subsidies[5].

The organization is governed by a Board of Trustees and has offices in several major cities worldwide, including New York and Beijing[5].

Influence and Criticism

While the WEF has no direct decision-making power, it is believed to have considerable influence on political and business policy decisions[2].

The organization's approach to global issues and its promotion of concepts like the "Great Reset" and "Global Redesign" have sometimes been met with controversy and criticism[5].

In conclusion, the World Economic Forum serves as a unique global platform for multi-stakeholder dialogue and cooperation, aiming to address the world's most pressing challenges through collaboration from various leaders, sectors and backgrounds.

Citations:

[1] https://www.weforum.org/about/world-economic-forum/

[2] https://www.investopedia.com/terms/w/world-economic-forum.asp

[3] https://president.georgetown.edu/wef/

[4] https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-davos

[5] https://en.wikipedia.org/wiki/World_economic_forum