The World Economic Forum has been a nongovernmental platform for public-private cooperation since 1971. The forum engages the foremost political, business and other leaders from society to reshape the global, regional and industry agendas. Over the last fifty years, it has held annual meetings in Davos with the aim of gathering all stakeholders to address the key events.

This year, the 54th annual meeting of the World Economic Forum was held with the theme of ‘rebuilding trust,’ a very appropriate theme in a world where no one seems willing to trust others.

The meeting was attended by nearly 3,000 delegates representing governments, businesses, civil society and international organisations. They included more than 60 heads of state and government.

Under the broad theme, key sub-themes included achieving security and cooperation in a fractured world, facilitating growth and creating jobs for a new era, artificial intelligence as a driving force for the economy and society, and a long-term strategy for climate, nature and energy.

Several key themes and initiatives related to gender parity and women’s empowerment were prominent during the event. Two main topics under discussion were gender norms and ways to think about women’s health and wealth. Additionally, India launched an Alliance for Global Good-Gender Equity and Equality.

I would have liked to see the gendered impact of all recommendations brought forward by Davos discussions. However, the discussion time allocated to gender was better than the 30 minutes which were allocated to discuss the humanitarian crisis in Gaza.

According to the Forum’s 2023 Global Gender Gap Report, another 131 years will be needed at the current rate to close the global gender gap. As per the WEF, 28 percent of the 3,000 participants were women. One hopes that he WEF organisers will try to improve this ratio by implementing the recommendation of strengthening gender equity and equality.

WEF’s Global Risks Report 2024 revealed that half of the top 10 risks anticipated in the next 10 years are environmental risks. Extreme weather events, critical changes to Earth’s systems, biodiversity loss and ecosystem collapse were identified as the three foremost risks.

Deliberating on those risks, the delegates focused on how a long-term systemic approach can achieve the objectives of a carbon-neutral and nature-positive world by 2050.

The discussions emphasised the importance of ensuring affordable, secure and inclusive access to essential resources such as energy, food and water. Countries were urged to fulfil their emission reduction commitments and acknowledge the reality of the climate crisis. In a way, the discussion took the COP28 output as an entry point and proposed a systemic approach to overcome some of the challenges confronting the COP members.

Energy was one of the key themes at COP28. Here too, businesses were encouraged to prioritise energy efficiency to enhance their competitiveness. It was emphasised that collaborative efforts were crucial in implementing changes that effectively address the challenges of the energy transition. The importance of fostering a collective commitment to sustainable practices and innovation for a smoother and more environmentally responsible transition was highlighted.

A practical measure to restore the trust was the launch of a new Network to Mobilise Clean Energy Investment for the Global South. The initiative will serve as a platform for developing economies to raise awareness about their clean energy needs, share best practices and sustainably accelerate their energy transitions. It aims to unlock an estimated $2.2-2.8 trillion essential for the global energy transition.

I am not a climate finance expert but do know that such impressive numbers don’t get mobilised and that is why many say that these forums are merely ‘gatherings of elites,’ high on talk but low on action.

Pakistan is one of the countries most vulnerable to climate change. It has the fifth largest population globally and was ranked as the 18th largest emitter of greenhouse gases in 2018.

The Government of Pakistan is actively pursuing investments in renewable energy as a key component of its clean energy objectives. With a target to reduce greenhouse gas emissions by 50 percent by 2030, the expansive development of clean energy will be pivotal in attaining this goal. I hope that Pakistan’s entourage under the leadership of the caretaker prime minister explored these opportunities in Davos.

The prime minister delivered a keynote address that focused on the theme of Trade Tech’s Trillion-Dollar Promise. He also participated in thematic events including Preventing an Era of Global Conflicts, Restoring Faith in the Global System and Preventing Economic Fractures.

The Pakistan Breakfast event was held in the Pakistan Pavilion and showcased Pakistan’s progress in fostering prosperity, promoting sustainability and rebuilding trust on the global stage.

I have been involved in organising the meetings of the information and communication technology expert group at the SDPI and can vouch for the talent and expertise available here.

Davos had 30 sessions on artificial intelligence and how will it impact the world. Pakistani expertise was visibly absent from these sessions. I wish the government and related ministries could connect our ICT thought leaders to forums such as Davos.

Fostering trust between governments and nations; imperative for transparent communication; cooperative diplomacy; and shared commitments are some of the overarching takeaways from Davos this year. Simultaneously, within societies, the need to rebuild trust was highlighted as a fundamental pillar for cohesive and resilient communities.

Addressing social divisions and ensuring inclusivity are integral to restoring faith in institutions and promoting a sense of unity. However, it is easier said than done. One hopes that the delegates take this resolve back to their roles as decision-makers.

Moreover, as technology, particularly artificial intelligence, continues to shape our future, rebuilding trust in its application becomes a linchpin for economic and societal growth. Transparent policies, ethical frameworks and responsible deployment of AI technologies are essential to mitigate apprehensions and harness the transformative potential of AI as a key driver for progress and innovation in the global landscape.

As the world grapples with pressing issues and polarisation, collective efforts, even if they are mere talking shops like the Davos Forum, are important.

The writer heads SDPI’s Centre for Learning and Development. She can be reached at sadiasatti@sdpi.org