Colombia announces halt on fossil fuel exploration for a greener economy

Posted on January 20, 2023 by Admin

The minister for mines, Irene Vélez, told world leaders the country will shift away from fossil fuels to begin a sustainable chapter

Colombia’s leftwing government has announced that it will not approve any new oil and gas exploration projects as it seeks to shift away from fossil fuels and toward a new sustainable economy.

Irene Vélez, the minister for mines told world leaders at the World Economic Forum in Davos that the time had come for the Andean nation to move away from its reliance on oil and gas and begin a new, greener chapter in the country’s history.

Ukraine urges world leaders to intensify war efforts on first day at Davos

Posted on January 17, 2023 by Admin

Kyiv officials ask allies at World Economic Forum to step up military supplies to defeat Russia

Ukraine has urged world leaders to intensify efforts to remove Vladimir Putin’s troops from its soil as the country’s war with Russia dominated the first full day of the gathering of the global elite in Davos.

With the war clouding the outlook for the global economy in 2023, Ukraine’s deputy prime minister, Yuliia Svyrydenko, urged the country’s allies to step up supplies of military hardware so that Russia could be more quickly defeated.

Ramaphosa cancels Davos trip amid South Africa energy crisis

Posted on January 16, 2023 by Admin

Africa’s most industrialised economy being hit by daily power cuts as anger grows among opposition and public

Cyril Ramaphosa has cancelled his trip to the World Economic Forum in Switzerland as South Africa grapples with an unprecedented energy crisis that has resulted in daily power cuts of between eight and 11 hours across the country.

Anger is growing as offices, hospitals, factories and tens of thousands of small businesses are forced to close, with outages also causing increased crime, traffic disruption and massive wastage as food supply chains collapse.

Davos’s elite will need to do some soul-searching in a world falling apart

Posted on January 14, 2023 by Admin

The first proper World Economic Forum for three years will take place against a humbling backdrop of crisis and conflict

The war in Ukraine. A rapidly slowing economy, fragmentation and de-globalisation. The rising cost of living. Climate change. There is plenty for the global great and good to get their teeth into this week as Davos resumes after a three-year hiatus.

Strictly speaking, it not the first gathering of world leaders, businesspeople, academics and civil society since the start of the pandemic, but last May’s World Economic Forum event was a slimmed-down and not especially well-attended affair. As a dry run it was fine, but a real Davos traditionally happens in January, when the snow is thick on the ground in the Swiss village 1,500 metres up in the Alps. In the past, the mood at Davos has oscillated between extreme optimism and unbridled gloom, depending on the state of the world economy. This year it looks certain to be the latter. As Klaus Schwab, founder and executive chair of the WEF put it last week, “economic, environmental, social and geopolitical crises are converging and conflating”. The aim of this year’s Davos, he added, was to get rid of the “crisis mindset”.