The meeting of global elites – with one heck of a view

The World Economic Forum takes place this week in Davos, Switzerland, where government leaders, multinational CEOs, and global financiers are gathered to discuss potential solutions to the world’s most pressing problems.

☝️ First things first: The WEF is a not-for-profit foundation started in 1971, with a stated goal of bringing together the world’s most influential people to “shape global, regional, and industry agendas.”

• The organization’s activities center around a concept known as stakeholder capitalism, or the idea that companies should be structured to serve the long-term interests of all its stakeholders – including customers, suppliers, employees, shareholders, and local communities.

🤝 So, what’s this year’s meeting about?... In a report published before this week’s gathering in Davos, the WEF identified nearly two dozen issues its members think currently represent the biggest threats to the world:

✋ Yes, but… While many of the world’s top decision-makers attend the WEF each year, the organization itself lacks any official power to enact global change. Instead, the WEF’s mission is to sway public opinion in favor of policies its members believe will benefit humanity as a whole.

🌍 Zoom out: On Sunday night, the Edelman Trust Institute published its annual Trust Barometer, a survey of 36,000 respondents across 28 countries whose release typically coincides with the start of the WEF. Per the report:

• The world’s most trusted institutions in 2022 were businesses (61%), with governments (52%) and media (50%) placing last.
• Scientists (75%) and a person’s coworkers (74%) were the most trusted individuals in society last year, while journalists (46%) and government leaders (42%) were the least trusted.