Development at Davos: Here’s what to watch

The world’s elite has once again touched down in Davos — and from a ski town in the Alps, the World Economic Forum has officially begun. For over 50 years, the weeklong event has attracted billionaires, business execs, kings, and queens — along with some of the most influential leaders in the global development space. This year, the forum will be no different: Over 130 countries will be represented, with 60 heads of state, 40 foreign ministers, and more than 900 chief executives in attendance. Its 3,000 attendees include everyone from soccer star David Beckham to Shou Zi Chew, the chief executive officer of TikTok; from Mohammad Mustafa, the prime minister of the Palestinian Authority, to António Guterres, secretary-general of the United Nations. “I think the perception might be that Davos is only about business. But it also carries a very significant development agenda,” said Sanda Ojiambo, the executive director of the United Nations Global Compact. “There are a significant number of world leaders coming together with large businesses, and when those two forces come together — when well applied — they can make significant shifts.” The attendees are gathered for a week of speeches, sessions, and relentless networking. Though there have been a few notable headlines at Davos over the years — Gavi, the Vaccine Alliance, for example, was launched at WEF 25 years ago this month — the forum is most well-known for connecting the world’s most prominent and a sort of high-altitude mingling that often has come under fire from WEF critics. Still, many others say Davos is an opportunity to dig into what public-private partnerships really look like. “We do need to meet to be able to solve global problems,” Ojiambo added. “I think the key issue is, when we come together, what are the outcomes?” So, what can we expect from our sector’s glitziest gathering, and what does Davos mean for the global development world? The return of Donald Trump WEF begins the same day that Donald Trump — some 2,000 miles away — returns to the White House. But even before Trump was sworn in, the reverberations of his return had already made their way to the Alps. “Former president Trump’s election is obviously going to be on everybody’s mind,” said Creon Butler, the director of the global economy and finance program at the policy institute Chatham House. “How will the whole range of Trump’s policies — whether they be tariffs, fiscal stimulus, deporting migrants, deregulation, government efficiency — … affect not just the United States economy, but the global economy?” One of the very first WEF sessions is centered on a world with Trump at the forefront, digging into the returning president’s proposals to raise tariffs, reform immigration, and roll back regulations throughout the world. Another is focused on the foreign policy shifts within Trump’s new administration. And toward the end of the week, the returning president himself will make a virtual appearance at Davos himself, with WEF officials stating Trump will be engaging in a “dialogue with participants” about his priorities. “We have been told that the administration wants a broad footprint [at Davos] towards the end of our meeting,” said Børge Brende, the president and chief executive officer of WEF, at a press conference last week. “We are very pleased by that because we know that there is a lot of interest from our participants and also, the rest of the world, to decipher and understand the policies of the new administration.” Brende told reporters that he didn’t know whether Elon Musk — the billionaire that’s cozied up to Trump throughout the past year — would be attending the forum, though he mentioned Musk was “welcome” to join Trump physically at WEF next year. “Davos is starting the same day that a billionaire, backed by the world’s very richest man, comes to power in what’s often referred to as the world’s most powerful country,” said Rebecca Riddell, Oxfam’s senior policy lead for economic and racial justice. “The specter of global oligarchy is what will be hanging over the dialogue at Davos.” Throughout the week, Davos attendees will also be watching for a slew of expected executive orders, with the incoming president recently stating he has nearly 100 in the pipeline. From taxes and tariffs to energy and trade, Trump’s first week is expected to have ripple effects on business, global development, foreign policy, and every sector in between — and we’ll be watching for how that shapes conversations across the Alps. The rise of artificial intelligence This year, attendees will be gathered under the theme “collaboration for the intelligent age” — essentially, how we should deal with the rise of artificial intelligence across the world. An essential piece of that discussion, WEF’s Chido Munyati explained, is ensuring the African continent isn’t left behind. “There is great potential for AI to drive economic growth, particularly in the African context,” said Munyati, who heads WEF’s Africa program. “But of course, that needs to be thought of carefully against some of the challenges that the continent still faces as it relates to digital infrastructure.” Today, 43% of Africa’s population — some 600 million people — lack access to electricity. At the same time, Munyati said, a query on ChatGPT requires 33% more energy than a basic Google search. “We already have this incredible deficit of energy just to power basic industry, and when you overlay on top of that, this demand of integrating these AI systems that require great amounts of energy,” Munyati said. “How and where is that energy going to come from?” We’re expecting a lot of talk on how AI is transforming labor markets, reshaping industries, and streamlining jobs, along with discussions on ensuring no nation — or no continent — is left behind. The drive toward green, clean energy Regardless of Davos’ headlining theme, no topic will be taking up more airtime than climate change. Presidents and prime ministers from Belgium, the Democratic Republic of Congo, and Peru will be making the case for more focus on the climate, while the world’s loftiest C-suites will be discussing electric vehicles, decarbonization, and the economics of a green energy transition. It’s nothing new for WEF, which has consistently brought climate change to the top of the agenda. That’s despite the fact that thousands of attendees will be flying to the Alps for the occasion — three years ago, more than 1,000 private jets flew in and out of Davos for WEF, environmental organization Greenpeace International found, resulting in carbon emissions four times greater than those of an average week. But with former President Donald Trump returning to the White House the same day Davos begins, attendees will be bracing for the raft of climate-related changes to come. Project 2025 — a collection of right-wing policy proposals compiled by Trump’s allies — blasted the Biden administration for “climate extremism,” while repeatedly rejecting the environmental, social, and governance frameworks many businesses use to evaluate their sustainability practices. “How is the private sector going to respond to the pressure from a Trump administration, and from Republicans, on aligning finance with climate goals — and all the things generally they may do in the development world — which is now regarded in some parts of U.S. politics as wokeism?” asked Chatham House’s Butler. “I would imagine that question will be really deeply discussed at Davos.” Some have already decided. Just weeks after the U.S. presidential election, Goldman Sachs pulled out of its commitment to reach net-zero emissions by 2050, while other financial giants moved away from their environment, social, and governance goals, more often referred to as ESG, before Trump was even reelected. Despite that, Butler said such changes may just mean the European Union has a stronger role to play — something that was echoed by Marianne Kleiberg, The Nature Conservancy’s managing director of Europe. “With the EU recently increasing its renewable energy target to 42.5% by 2030, a collaborative approach to accelerate a green and equitable energy transition will be paramount,” wrote Kleiberg in a statement to Devex. “From our experience working with corporations in Europe, many have proven their commitment to act.” We’ve got our eyes on a few sessions in particular. Kenyan President William Ruto will be announcing a new $5 billion initiative focused on climate adaptation across Africa, while the African Union’s commissioner for infrastructure, energy, and digitalization, Amani Abou-Zeid, will be speaking on clean technology hardware — and how the world can close a $130 trillion gap to fund it by 2050. Alexander De Croo, the prime minister of Belgium, will also be speaking about Europe’s climate ambitions “in a more competitive world,” alongside France’s minister of industry and energy and several chief business executives. “With companies increasingly exposed to financial risk due to climate change and biodiversity loss, there is no choice but for the private sector to invest in climate mitigation and nature strategies,” Kleiberg added. Conflict, crisis, and geopolitics WEF comes just after the organization released its latest Global Cooperation Barometer, which assessed how the world collaborated across trade, technology, and beyond in 2023. While researchers found improvement across nearly every sector, one area caused the barometer’s overall measure to stagnate: peace and security. “It is the key reason the barometer shows that for the last three years, overall global cooperation has levelled off despite relatively stronger levels of cooperation in the areas of climate and nature, innovation and technology, and health and wellness,” the report states. That pillar — which measures the number of conflict-related fatalities, forcibly displaced people, and progress toward peacekeeping — tracked a record level of crises in 2023. And while the world has been steeped in conflict, the report says the institutions created to resolve such issues have failed to respond. There were over 305 million people in need of humanitarian assistance in 2023, and according to the latest data from the U.N. Office for the Coordination of Humanitarian Affairs, there were 59 state-based armed conflicts across the world — the highest number ever recorded since tracking began in 1946. In another report released by WEF last week, armed conflict was ranked as the most pressing risk in 2025. “From the impunity we are witnessing in Gaza, we’ve seen a total disregard of the normative framework that regulates the way you respond to crises and treat civilians,” said Sara Pantuliano, the chief executive of global think tank ODI Global. “We have very clear frameworks that are meaningless, and a paralysis of the global institutions that are supposed to help navigate this space right now.” That might be why conflict, crises, and geopolitical tensions appear throughout Davos’ 2025 agenda. Prince Faisal bin Farhan Al Saud, who serves as Saudi Arabia’s minister of foreign affairs, will be speaking at a session titled Diplomacy amid Disorder with the prime minister of Qatar, along with the foreign ministers of Nigeria, Finland, and Spain. Hassan Sheikh Mohamud — the president of Somalia — will talk about private sector engagement in humanitarian response. And development heavyweights Comfort Ero, the head of the International Crisis Group, and Catherine Russell, the executive director of UNICEF, will be speaking on unreported humanitarian crises worldwide. “The World Economic Forum is the international organization for public-private partnerships,” said Pantuliano. “And with today’s global challenges, we need cross-sectoral collaboration. We cannot do it alone.” Gaza will be first on the conflict agenda, with several official sessions — and likely many more private ones — dedicated to the Middle East alone. Asaad Hassan al-Shaybani, the new foreign minister of Syria, will speak about the country’s future; Isaac Herzog, the president of Israel, will have a solo slot on stage. Fifteen months after the Israel-Hamas war began, a three-stage ceasefire between Israel and Hamas finally went into effect on Sunday — and now, world leaders will have the chance to pick up the pieces at Davos. “The idea here is to bring different perspectives — from tech leaders to those working in logistics and supply chains — and enable people who don`t usually meet one another to explore innovations in the humanitarian sector,” the WEF’s Brende told Devex last week. “That is the essence of Davos.” Inequality and its impact Despite all those intentions, the crux of Davos is always the same: inequality. Every year, Oxfam produces a report on the world’s wealth gaps just in time for WEF — but with Trump’s presidential return, the organization’s senior policy lead for economic and racial justice, Rebecca Riddell, said there’s even more at stake. “All Davoses have this sort of dynamic, with these really elite conversations taking place amidst really challenging times,” said Riddell. “But I think that’s very true this year, where you have Davos kicking off the same day that Donald Trump is inaugurated.” In 2024, billionaire wealth grew by $2 trillion in one year alone, Oxfam’s latest report found — a rate three times faster than the year before. At the same time, the number of people living in poverty has barely changed since 1990. And across the world, 3.3 billion people now live in countries that spend more on servicing their debt than they do on education or health. But in spite of — or perhaps, because of — those divides, many civil society organizations see Davos as a place to highlight the world’s ever-widening gaps. One example is South Africa’s president, Cyril Ramaphosa, who will speak about his country’s priorities throughout its G20 presidency. As the first African nation to hold the seat, South Africa has already announced its focus on wealth disparities, debt, and last year’s Group of 20 major economies’ commitment to tax the superrich. “At its best, Davos can be a place for dialogue, and for business leaders, billionaires and politicians — who honestly bear a fair amount of responsibility for the situation we’re in — to come together and ideally, take some responsibility and work towards solutions,” Riddell told Devex.