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Davos Elite Looks to ‘Globalization 4.0’ to Stem Climate Change

Business leaders say the next wave of globalization must create social benefits as well as provide technical solutions to climate change.

The World Economic Forum's Annual Meeting of the Global Future Councils, in November 2018 (Photo Credit: World Economic Forum) Click to Enlarge.

For business leaders gathering in the Swiss Alps this week, ‘Globalisation 4.0’ holds the answers to one of the world’s biggest problems:  climate change.

The buzzword that will dominate the World Economic Forum (WEF) in Davos this week is a call to resist the urge to withdraw behind national barriers and create a world of public-private partnerships that guide the free market to create economic growth, sustainability, and social benefits, according to WEF’s founder and executive chairman Klaus Schwab.

However, green groups and academics counter that government regulation remains vital for protecting citizens and the environment from the failures of the market.  The same technological changes driving this new phase – automation and clean technology, among others – are destabilizing society and politics, raising serious challenges for the response to climate change. 

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