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Future of Consumption in Fast-Growth Consumer Markets: ASEAN

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Future of Consumption in Fast-Growth Consumer Markets: ASEAN
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Date of Editorial Board meeting: 
Publication date: 
Friday, June 5, 2020
Abstract in English: 
As this report is being published, the world is going through unprecedented times. COVID-19, a term that did not exist when this study was being undertaken over 2019, is now ubiquitous, even though the scale and nature of its global impact will not be known for months to come. As of the second quarter of 2020, a third of the global population has been under a lockdown, with over 200 countries affected by health and economic burdens in diverse ways. Businesses, governments and citizens across the world want to leave the humanitarian and economic crisis behind as soon as possible. To successfully navigate through the COVID crisis and a post-COVID world, a premium will be placed on innovation, the willingness of organizations to disrupt themselves, and active collaboration. In the context of this seismic change, the World Economic Forum Platform for Shaping the Future of Consumption aims to accelerate the responsible transformation of the consumption landscape by enabling consumer well-being, environmental sustainability, inclusive growth models, and trust and transparency among all stakeholders. The mission and transformation goals of the Future of Consumption platform developed three years ago are now more relevant than ever to ensure positive benefits for business and society, across developed and emerging markets. It is an imperative that we advance progress with speed to build a prosperous future for all. In a post-COVID era over the next decade, accelerated shifts in global forces, more than 1 billion first-time consumers and the Fourth Industrial Revolution will continue to change the landscape of consumption in the fast-growth consumer markets of China, India and the ASEAN region. Both business and political leaders will be required to adapt their strategies to the changing needs and demands of connected and empowered consumers. The Future of Consumption in Fast-Growth Consumer Markets, a multi-year project, has focused on the evolution of consumption in emerging markets that comprise more than 40% of the world’s population. Critical foresights on drivers of growth and levers of inclusivity can benefit global leaders as they grapple with similar issues.
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32
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Diversity, Equity and Inclusion 4.0: A toolkit for leaders to accelerate social progress in the future of work

Title Original Language: 
Diversity, Equity and Inclusion 4.0: A toolkit for leaders to accelerate social progress in the future of work
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Date of Editorial Board meeting: 
Publication date: 
Tuesday, June 23, 2020
Abstract in English: 
The start of the decade has seen a convergence of three major trends: the accelerated use of Fourth Industrial Revolution technologies in the midst of the pandemic, job market disruptions to both remote work and work requiring physical presence, and a wide-ranging call for greater inclusivity, equity and social justice. Now more than ever, in the midst of such sweeping change, organizations have an opportunity to embed greater diversity, equity and inclusion. Societal change and the need for future creativity and innovation demand that business consider the best use of new technologies in enabling this journey. Successful organizations are powered by the diverse opinions, skill sets and life experiences of their employees. To tap into the full potential of human diversity, organizations need to hire diverse talent and create an inclusive working culture underpinned by a fundamental sense of belonging, fairness and equity, enabling people to bring their “full self” to work. In the Fourth Industrial Revolution, most companies are set to implement new technologies and practices to manage their workforces. However, implementing these tools without due consideration risks a range of unintended consequences which can ultimately undermine a company’s reputation and competitive position. Today, more than ever before, new workplace technologies and practices are no longer simply “neutral” with regard to diversity, equity and inclusion outcomes. Leading companies are increasingly recognizing this and proactively leveraging technology as part of organization-wide strategies for achieving “Diversity, Equity and Inclusion 4.0”. Conversely, companies without such an integrated approach are increasingly facing unintended consequences and risks when implementing new technology tools. Recent events are a reminder of the persistent inequities that continue to pervade our societies and economies. As companies seek to take on more responsibility for addressing social justice ensuring that diversity and equality becomes the norm in the very near future, a key pathway is to adopt an integrated approach to diversity, equity and inclusion in the workplace, and a renewed commitment to tangible change. Ensuring racial justice, gender parity, disability inclusion, LGBTI equality and inclusion of all forms of human diversity needs to be the “new normal” in the workplace set to emerge from the COVID-19 crisis.This toolkit is designed to highlight the opportunities and outline the challenges specific to greater use of technology in the service of diversity, equity and inclusion efforts. It is designed for organizational leaders, Chief Diversity and Inclusion Officers (CDIOs), and others actively working to promote diverse, equitable and inclusive workplaces globally. It is intended to complement a range of related publications produced by the World Economic Forum’s Platform for Shaping the Future of the New Economy and Society: “HR4.0: Shaping People Strategies in the Fourth Industrial Revolution”, developed in collaboration with the Forum’s community of Chief Human Resources Officers (CHROs) and a guide to sound decision-making in the context of the coronavirus pandemic, “Workforce Principles for the COVID-19 Pandemic: Stakeholder Capitalism in a Time of Crisis”.
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20
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Global Future Council on New Network Technologies 5G: Society’s Essential Innovation Technology

Title Original Language: 
Global Future Council on New Network Technologies 5G: Society’s Essential Innovation Technology
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Date of Editorial Board meeting: 
Publication date: 
Tuesday, June 30, 2020
Abstract in English: 
Many challenges faced by society today will be addressed and supported by advanced technologies that are able to harness, analyse and connect massive datasets. One of these will be fifth-generation mobile networks, or 5G, which will provide a new foundational communications capability that brings humans and devices into a common orbit built around distributed, near instantaneous interactions. By bringing the power of computing closer to data sources through 5G networks, previously unsolvable problems can now become a reality. The World Economic Forum’s Global Future Council on New Network Technologies, during its 2018-2020 term, focused on the benefits to society and the role of partnerships between government and the private sector when it comes to network technologies. It also explored the incentives for network development and the distribution of value throughout the 5G environment, as well as the role of new systems in driving value and innovation. This document reflects the various discussions among Council Members and its extended community.
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Building Back Better: An Action Plan for the Media, Entertainment and Culture Industry

Title Original Language: 
Building Back Better:An Action Plan for the Media, Entertainment and Culture Industry
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Date of Editorial Board meeting: 
Publication date: 
Tuesday, July 14, 2020
Abstract in English: 
While media consumption has accelerated during the pandemic, the main currency used for media monetization – advertising spend – has been pulled back across many channels, due to both economic and social concerns. Recently, many brands have halted their spending on platforms such as Facebook and Twitter. While the advertising revenue of such platforms is driven largely by small and medium enterprises, events of late may signal a larger shift in focus to the role that one’s business decisions play in driving societal change. For media companies with significant reach and influence over consumers, this responsibility is even more crucial. We assessed how media organizations responded to COVID-19 and addressed their societal responsibility. In this second paper, we focus on the near-term and medium-term actions that can be taken to improve the financial viability, resilience and sustainability of the industry. We focus on four key areas: Creating a stronger media ecosystem across content creation, distribution and consumption innovation. We identified five key areas to drive a stronger media ecosystem: enhanced trust and transparency, better alignment of value with investments, media pluralism, a global community of creators and viewers, and renewed consumer focus. We examined the demonetization of harmful content through initiatives such as the Global Alliance for Responsible Media, in partnership with the Forum’s “Shaping the Future of Media, Entertainment and Culture” platform. Accelerating digital transformation to drive innovation. Digital distribution is no longer a choice – companies must decide whether to build, buy or partner to increase their digital capabilities.–New digital production methods have created lower-cost and more authentic content – companies should consider how they adopt end-to-end cloud production tools to capture, edit, finalize and distribute content in a single workflow from start to finish. Notable innovation in the use of data-driven tools for revenue projections, content curation and moderation, and user experience will present new decisions for businesses. With a significant increase in cyber threats during the COVID era, businesses need to take practical steps to increase their cyber resilience. Adapting the workforce and ways of working to support the next phase of industry growth. Work has transitioned to home-office settings with varying degrees of effectiveness – businesses should consider what capabilities are needed to operate in a hybrid work model in the future. Worker profiles in demand will be in big data, analytics and revenue-related functions, as well as in security and data privacy, but the industry is unlikely to go back to pre-COVID employment levels. With heavy reliance on freelance and contract work, there is an opportunity to revisit the industry’s duty of care to its workers and reset on its representation of minorities. In addition, employers will need to find new ways to protect employees’ safety and mental health. Supporting responsible business through global sustainable development goals (SDGs) –The urgency to act as responsible media businesses has never been higher, with three-quarters of media chief executive officers recognizing the critical role1 of businesses in society and three out of five consumers claiming to avoid brands that do not demonstrate progress against the goals affecting our society and planet. Businesses should evaluate their impact in terms of environmental and social considerations and reset their activities in line with the SDGs. Responsible leadership is a critical enabler of sustainable governance. Top leaders exhibit five elements of responsible leadership: 1) stakeholder inclusion; 2) emotion and intuition; 3) mission and purpose; 4) technology and innovation; and 5) intellect and insight. At the end of this paper, we identify actions that companies can take immediately, such as reviewing their media investment strategies, employing new brand safety tools, implementing new ways to create an engaged workforce and many others. A number of the companies engaged for this report have already committed to such actions, and we encourage other companies for which these steps are relevant to carry them out within their own businesses. In the final paper of this series, we will highlight the lasting industry shifts that will result from the current crisis and the long-term plans that various parts of the media ecosystem should consider when developing their strategies.
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26
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Mobilizing the Private Sector in Peace and Reconciliation

Title Original Language: 
Mobilizing the Private Sector in Peace and Reconciliation
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Date of Editorial Board meeting: 
Publication date: 
Friday, March 27, 2020
Abstract in English: 
The annual cost of conflict is a trillion dollars, according to calculations by the Institute of Economics and Peace 2017. Clearly wars pose various challenges to business operations and profitability, whilst elusive political stability makes investors hesitant. It is therefore not surprising that private sector actors are increasingly intentional in trying to make a contribution to immediate and long-term peace. Private sector activity in support of peace has met with mixed success, which yields lessons about the potential for business to play a role in peace processes. As international organizations and governments test and improve models for collaboration with the private sector, these lessons are useful in deciding what we can do better together. The following report, authored by a team of researchers from the Graduate Institute Geneva tackles this question: Based on previous involvements of the private sector in peacebuilding, which of its activities can contribute positively to peacebuilding and what lessons can be applied to future interventions?
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87
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Guidelines for City MobilitySteering towards collaboration

Title Original Language: 
Guidelines for City MobilitySteering towards collaboration
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Date of Editorial Board meeting: 
Publication date: 
Tuesday, March 17, 2020
Abstract in English: 
How people and goods get around our cities is undergoing considerable change. As new mobility options are introduced, cities and communities are trying to lower emissions, improve safety and increase affordability and accessibility of transport networks. Cities, mobility partners, and communities are taking a systems perspective to rethink the movement of people and goods. Developed by the World Economic Forum’s Global Future Council on Mobility, the Guidelines for City Mobility: Steering towards collaboration reflect shared goals for liveable and just transport networks and cities. This document provides eight practical guidelines – from data-sharing to multimodal integration – that help establish, develop and strengthen partnerships between cities and mobility partners. These guidelines are intended to serve as a blueprint for collaborations, including existing, new and future partnerships. Each guideline is intended to complement the operating authority of cities with the creativity and innovation of the private sector. It is our hope that cities and mobility partners around the world will deploy these guidelines in their work. We invite cities and mobility partners to confirm the guidelines that resonate for their context, adapt them as necessary and apply them consistently with all stakeholders.
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16
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Outbreak Readiness and Business Impact. Protecting Lives and Livelihoods across the Global Economy

Title Original Language: 
Outbreak Readiness and Business ImpactProtecting Lives and Livelihoods across the Global Economy
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Date of Editorial Board meeting: 
Publication date: 
Wednesday, March 11, 2020
Abstract in English: 
The fable of the boiling frog provides a salutary lesson for business leaders. In this apocryphal story, a frog placed in cold water remains in the water as the temperature is gradually increased to boiling. In failing to notice the gradual but real change in its circumstances, the frog dooms itself to a catastrophic ending. Although frogs do not behave this way in real life, humans often do. Neurobiologically conditioned, as we are, to pay attention to stark contrasts and sudden changes, we often overlook slow moving changes in our environments that may herald disastrous consequences.The evolution of infectious disease risk is one such change. As this report explains, the number and diversity of infectious disease outbreaks are gradually but inexorably increasing, as is their capacity to send shocks through our global economic systems. As we travel, trade and communicate across an increasingly hyperconnected global economy, more and more companies will find themselves exposed to the effects of outbreaks that begin thousands of miles away.
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22
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Implementing the ILO Indigenous and Tribal Peoples Convention No. 169: Towards an inclusive, sustainable and just future

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Publication date: 
Monday, February 3, 2020
Abstract in English: 
In 1989, the ILO adopted the Indigenous and Tribal Peoples Convention No. 169. Since then, the Convention has been ratified by 23 countries, and has guided and inspired governments, trade unions and employers’ organizations as well as indigenous peoples across the world in their work to promote and protect indigenous peoples’ rights.
Thirty years have passed since the adoption of Convention No. 169. This report presents the social and economic situation of indigenous women and men today by looking at key aspects such as population, employment and poverty, as well as the important strides made in public policies, particularly with regard to institutions, consultation and participation. It highlights the critical role of the Convention as a framework for social justice, peace, participatory democracy, and inclusive and sustainable development for all – which is necessary to achieve the Sustainable Development Goals and undertake meaningful climate action.
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160
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Shaping a Multiconceptual World - 2020

Title Original Language: 
Shaping a Multiconceptual World
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Date of Editorial Board meeting: 
Publication date: 
Wednesday, January 22, 2020
Abstract in English: 
In the report’s opening chapter, “The Expansion of Geopolitics”, World Economic Forum President Børge Brende argues the number of actors exerting geopolitical influence is growing and domains for geopolitical competition or cooperation are also expanding. Within this context, Brende calls for a cooperative order: “The more powers compete and pursue strategic advantage at the expense of addressing shared technological, environmental and economic challenges, the more likely it will be that a broader sense of friction will develop across the global system. A rivalrous global system will in turn make it more unlikely that shared priorities are fulfilled,” he writes. Brende notes that global coordination in the wake of the 11 September 2001 terror attacks and the 2008 global financial crisis offer a paradigm for a more collaborative response to geopolitical challenges. Cooperation, he argues, will ultimately prove more beneficial to individual states – and to the world at large. “As the world becomes even more interconnected in terms of flows of information, capital and people, states will be more reliant on one another to realize positive outcomes for themselves and the global community,” Brende writes. “At a time when power dynamics are in flux, there is an opportunity for stakeholders to make the decision to shape geopolitics in a cooperative, rather than competitive, manner.”
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78
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Jobs of Tomorrow: Mapping Opportunity in the New Economy

Title Original Language: 
Jobs of Tomorrow: Mapping Opportunity in the New Economy
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Date of Editorial Board meeting: 
Publication date: 
Wednesday, January 22, 2020
Abstract in English: 
The Fourth Industrial Revolution is creating demand for millions of new jobs, with vast new opportunities for fulfill-ing people’s potential and aspirations. However, in order to turn these opportunities into reality, new sources of data and innovative approaches to understand emerging jobs and skills, as well as to empower effective and coordinated large-scale action are urgently needed across the globe. This report, Jobs of Tomorrow: Mapping Opportunity in the New Economy, takes an in-depth look into the ‘black box’ of new job creation, reviewing the shifting focus of employment to emerging professions of the future, the reasons behind it and what skills will be required by these professions. The analysis presented in this report is based on inno-vative metrics authored in partnership between the World Economic Forum’s New Metrics CoLab in its Platform for the New Economy and Society, and data scientists at three part-ner companies: Burning Glass Technologies, Coursera and LinkedIn. Through these collaborations, the report provides insights into emerging opportunities for employment across the global economy as well as unique detail regarding the skill sets needed to leverage those opportunities.Key findings include:≥Demand for both “digital” and “human” factors is driving growth in the professions of the future. Seven key professional clusters are emerging in tandem. On the one hand, these reflect the adoption of new technologies—giving rise to greater demand for green economy jobs, roles at the forefront of the data and AI economy as well as new roles in engineering, cloud computing and product development. On the other hand, emerging professions also reflect the continuing importance of human interaction in the new economy, giving rise to greater demand for care economy jobs; roles in marketing, sales and content production; as well as roles at the forefront of people and culture. Indeed, the future of work shows demand for a broad variety of skills that match these professional opportunities, inclusive of both disruptive technical skills but also specialized industry skills and core business skills.≥There are seven emerging professional clusters and 96 jobs of tomorrow within them that vary in their individual rate of growth and in the scale of job opportunities they offer in the aggregate.
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