WORLD ECONOMIC FORUM: DAVOS 2020
Davos 2020 took on the global challenge that is the Fourth Industrial Revolution
The World Economic Forum celebrated its 50th Annual Meeting from 21 to 24 January. Under the theme Stakeholders for a Cohesive and Sustainable World, the gathering brought together top leaders from business, governments and society to address the challenges and opportunities presented by the 4th Industrial Revolution. Iberdrola group, a member of the Forum, took part in the event, which defined the global agenda for 2020.
IBERDROLA AT DAVOS SUMMIT 2020
- sub GALÁN IN 'EL ECONOMISTA'
In an interview in El Economista, Iberdrola group chairman Ignacio Galán confirmed it will step up the pace of growth in networks, renewables and storage to keep its position among the world's top five companies and to meet the European Union's decarbonisation objectives. “Reaching climate neutrality is possible if we all do our bit and move in the same direction”, he affirmed, and insisted those who contaminate should be the ones to pay.Download
- sub GALÁN SPEAKS TO EFE
Speaking to EFE news agency during the Davos meeting of the World Economic Forum, Ignacio Galán said that he considers the constitution of the Spanish government to be highly positive, particularly due to the "reinforcement" represented by the elevation of the minister of Economic Affairs, Nadia Calviño, and the minister for the Ecological Transition, Teresa Ribera, to vice presidents. The group chairman particularly values Ribera's important role in the Government, since Iberdrola has been highly involved in the ecological transition, a process — he said — "in which we have been working for over 20 years". (Spanish version).Download
- sub GALÁN ON CNBC
Ignacio Galán offered an interview to the CNBC network, where he highlighted that action is needed now and that Iberdrola's energy transition started 20 years ago. Galán also said that Spain and the European Union are showing leadership and ambition with their clean energy plans.Download
- sub GALÁN ON BLOOMBERG
Iberdrola's chairman discussed the company's clean energy investments with Bloomberg's Haslinda Amin at the World Economic Forum's annual meeting in Davos. He explained that renewables are now the most competitive form of energy that also help to stimulate the economy and support jobs. Furthermore, Galán highlighted new investments in wind and solar projects in Australia.Download
- sub GALÁN AT 'LA VANGUARDIA'
The chairman of Iberdrola, who has been attending the annual Davos meeting of the World Economic Forum for 15 years, agreed in La Vanguardia there is a climate emergency and expressed his satisfaction in seeing that it is at the centre of the debate. Galán said that "the fight against global warming is an opportunity and will generate significant benefits for society, not only environmental, but also for the reduction of energy dependence, security of supply, electricity prices and the improvement of health."Download
- sub BLOOMBERG GREEN
In an event by Bloomberg Green environmental channel within the activities of the Davos Forum, Ignacio Galán said he was "confident there will be a boom in electric vehicles", since "it is cheaper to use and more comfortable." The site has included Galán in a selection of 30 people, organizations and trends that are offering possible solutions to the climate emergency.Download
- sub GALÁN AT DAVOS 2020
Ignacio Galán took part at the annual meeting of the World Economic Forum, where he stated that European energy companies could double their investments in electrification over the next decades. During his speech at the Shaping the energy of the future panel, Galan pointed out that this agreement will hopefully serve to "streamline permitting procedures for new infrastructure and reward those companies genuinely transforming their business model to deliver a green economy".Download
- sub SHAPING THE ENERGY FUTURE
The chairman of the group took part at the conference titled Shaping the Future of Energy and Materials, within the activities being held at the World Economic Forum Annual Meeting at Davos. Participants discussed about how the competitive landscape has changed in this year, what the key business challenges and opportunities are in 2020 and what should be strategic priorities in the decade ahead.Download
- sub IBERDROLA AND DAVOS 2020
Iberdrola group is a longstanding member of the World Economic Forum and chairman Ignacio Galán is a key voice in promoting the energy and climate change agenda every year at the meeting in Davos. As he explained at the Shaping the future of energy and materials panel debate, "at Iberdrola, we started the transition 20 years ago, and after investing over €100 billion in clean technologies."Download
- sub GLOBAL 100 AND BLOOMBERG GENDER EQUALITY
Iberdrola has, once again, been included in the Global 100 Most Sustainable Corporations in the World, which is produced annually by Corporate Knights and presented at the Davos forum. The company has once again been found to be one of the 100 most sustainable companies in the world, it is the only Spanish company in its category and occupies 17th position in the overall ranking. Iberdrola has also been included, for the third consecutive year, in the Bloomberg Gender Equality Index (GEI), which recognises companies committed to transparency and reporting information related to gender issues and to increasing equality between women and men.Download
DAVOS 2020 MANIFESTO: TOWARDS THE FOURTH INDUSTRIAL REVOLUTION
In the 21st century, the use of electronics and information technology has enabled production to be automated and brought about a digital transformation which has spread to all sectors, making way for the so-called Third Industrial Revolution. Today, digitalisation is evolving towards a fusion of technologies — in fields like energy storage, artificial intelligence, robotics, the internet of things, autonomous vehicles, 4D printing, nanotechnology, biotechnology and quantum computation — which blur the lines between the physical, digital and biological spheres. We are advancing toward the Fourth Industrial Revolution, a phenomenon that affects all sectors and countries of the world and is set to substantially transform the way we live, work and interact with each other.
This new reality is forcing companies to re-examine the way they do business. That's why the World Economic Forum has published the Davos 2020 Manifesto, which sets out what the universal purpose of companies must be in the Fourth Industrial Revolution: to collaborate with all their stakeholders in the creation of shared and sustained value. In this way, companies not only meet their shareholders' requirements, but also those of their employees, customers, suppliers, local communities and society as a whole. This is what the co-founder of the Forum, Klaus Schwab, calls stakeholder capitalism.
IBERDROLA, ALIGNED WITH THE DAVOS 2020 MANIFESTO
In line with the Davos 2020 Manifesto and the conference's theme, Stakeholders for a Cohesive and Sustainable World, Iberdrola group — pioneer of the energy transition through the decarbonization of the economy — has drawn up a distinctive, authentic and relevant corporate purpose, that contributes to bring the company closer to people, society as a whole and its Stakeholders. In order to achieve this purpose, we have evolved our corporate values towards three concepts that inspire our entire strategy:
The group is always seeking to be an inspirational model by creating economic, social and environmental value wherever we are and looking to the future.
The company has great strength and a great responsibility and therefore works by bringing talents together for a corporate purpose that is by all and for all.
Iberdrola makes small and large changes to make life easier for people, by being efficient and self-demanding, and always looking for continuing improvement.
IBERDROLA'S CONTRIBUTION TO SUBJECTS OF DAVOS 2020
We are the utility of the future
The company has made sweeping changes in the last 15 years, clearly staying one step ahead of the energy transition to face the challenges of climate change and the need for a clean, reliable and smart business model.
We are leading the energy transition
We are advancing towards a model that is replacing production with polluting sources with clean energies and intensifying the necessary decarbonisation and electrification of the world economy.
World leader in the fight against climate change
In Iberdrola group, we have set ourselves the target of achieving global carbon neutrality by 2050 and we expect our emissions intensity to be almost zero in Europe by 2030.
We are committed to renewable energies
Renewable energies are one of our strategic pillars: for this business area we will earmark 39% of the 34 billion euros of investment scheduled for the period 2018-2022.
At the forefront of the digital transformation
Iberdrola plans to invest €4,8 billion in the digital transformation between 2018 and 2022 to improve the operation and maintenance of its assets through data analytics and AI.
We promote sustainable mobility
As an efficient way of fighting climate change, Iberdrola is leading the energy transition towards sustainable mobility and the electrification of transport, rallying all the stakeholders involved.
Mitigating and adapting to climate change
Climate change is threatening the future of our planet, but we still have time to adapt ourselves to it and mitigate its effects.
The transformation towards a decarbonised economy is a driver of economic growth with the potential to create millions of green jobs.
Professions of the future
The Fourth Industrial Revolution will cause the disappearance of certain professions and the appearance of others.
Digitalisation of employment
The employment market demands workers with a good knowledge of the basic tools for carrying out tasks smoothly in the technological era.
SUBJECTS ADDRESSED AT THE DAVOS 2020 SUMMIT
These matters are related to the Global Risks Report 2020, recently published by the World Economic Forum. This year, the main long-term global threats, in terms of both likelihood and impact, are environmental in nature: extreme weather, climate action failure, natural disasters, biodiversity loss and human-made environmental disasters.
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DAVOS AND THE WORLD ECONOMIC FORUM
What is Davos and the World Economic Forum?
The Davos conference is the annual meeting of the World Economic Forum, an independent, non-profit organisation dedicated to public-private sector cooperation. Headquartered in Geneva, Switzerland, the institution involves the most important political, business, cultural leaders, etc. from all over the world to shape the global agenda.
Where is Davos located?
Davos takes place at Davos-Klosters, a tourist resort situated in the high Alps in Switzerland. It is one of the biggest winter sports areas in Europe and the continent's highest-lying town.
What is the purpose of Davos?
The aim of the Davos summit is to bring together the top world leaders to debate the most pressing global problems and seek solutions to these challenges. And they do it in the Davos spirit, based on interdisciplinary, informal and direct interaction among peers.
When was Davos 2020 held?
Davos 2020 was held from 21 to 24 January 2020. The meeting is always held in January to deal with the issues that will mark the coming year.
Who attended Davos 2020?
The Davos 2020 conference agenda consisted of contributions from various internationally renowned political, business, journalistic, intellectual, academic and research leaders. Some of the main speakers were: Greta Thunberg, climate activist; Donald Trump, president of the United States; Angela Merkel, German Chancellor; Winnie Byanyima, United Nations Under-Secretary-General and Executive Director of UNAIDS; Deepika Padukone, founder of the Live Love Laugh Foundation; and Christine Lagarde, President of the European Central Bank.
What was Davos meeting all about?
Under the heading Stakeholders for a Cohesive and Sustainable World, the speeches and activities of Davos 2020 addressed the challenges and opportunities presented by the 4th Industrial Revolution, focusing on seven specific themes: how to save the planet, fairer economies, society and the future of work, better business, healthy futures, technology for good and beyond geopolitics.
How many Davos forums have been held?
The 2020 summit was the 50th edition of this annual meeting.
What are the goals of the World Economic Forum?
The mission of the World Economic Forum is to serve as a platform for dialogue and cooperation between public and private institutions from all over the world. This mission is based on the stakeholder theory, according to which organisations, of whatever kind, are answerable to all sectors of society. So, a company must not just let itself be guided by the interests of its shareholders, but also by those of its employees, customers, suppliers, local communities and society in general.
How did the World Economic Forum come about, and how has it developed?
In 1971, Swiss professor Klaus Schwab founded in Geneva what was originally called the European Management Forum, a non-profit foundation that brought together business leaders from the entire continent in its annual meeting in January. These first conferences aimed to help European corporations to keep up to date with the management practices of the United States, and to develop and promote the management approach based on the stakeholder theory.
In 1973, due to the collapse of the Bretton Woods exchange system and the Arab-Israeli war, the Forum widened its focus to social matters and, at Davos 1974, political representatives were invited for the first time. Two years later, a membership system was introduced which permitted the entry of 1,000 leading companies from all over the world. The forum started to work with China to stimulate economic reform policies and, in 1979, after the publishing of the Global Competitiveness Report, it also became a research centre.
All this led to the institution becoming the World Economic Forum in 1987. In 2006, it opened regional offices in Beijing and New York, and in 2015, it was recognised as an international organisation.
Which countries integrate the World Economic Forum?
The World Economic Forum includes the 1,000 leading companies in the world, which form part of the institution through a membership system. The members are regional or global companies that have the intention and potential to transform the future to a significant extent, stimulating economic growth through their groundbreaking technological and business proposals. Membership is by invitation only.
What activities does the World Economic Forum organise?
Apart from the Davos summit, the Forum's members take part in the Annual Meeting of the New Champions, which is held in China and is the leading world conference on innovation, technology and science. The Forum also holds regional meetings and high-level workshops in Africa, East Asia, Latin America and the Middle East. It also promotes the Young World Leaders community — comprised of persons under 40 years of age from different sectors and disciplines — and publishes various research reports.