Home Agenda Day 2 at The Davos Agenda 2022: From trust to technology

Day 2 at The Davos Agenda 2022: From trust to technology

  • The second day of the Davos Agenda 2022 heard from the Prime Ministers of Israel and Japan.
  • It also offers sessions on the global social contract and COVID-19 vaccines.
  • Here are just three key talking points from today.

Today at The Davos Agenda we heard Naftali Bennett, Prime Minister of Israel and Kishida Fumio, Prime Minister of Japan, in two special addresses.

We also featured sessions on the global social contract and vaccine equity.

If you missed it, here are three of the main takeaways.

A new economic and social future?

The COVID-19 pandemic has left significant scars in all areas of our lives – from health to work to the economy. So what happens next as we recover?

“We are in a tremendous moment of change” Nicholas Schmit, Commissioner for Employment and Social Rights, the European Commission told The Davos Agenda.

The pandemic has not diminished the need to address other challenges, including climate change, he said.

But, it is important that we have a good economic and social recovery, especially in the most vulnerable countries, said Nadia Calvino, Deputy Prime Minister and Minister of Economy and Digitization of Spain.

So what should recovery look like? Well, as Calviño said, it has to be fair.

For example, as Jonah Award, explained the Chairman and CEO of ManpowerGroup, we must tackle deep-rooted inequalities in the labor market.

We need to move from shareholder capitalism to stakeholder capitalism, said Svein ripped Holsether, President and CEO, Yara International ASA. It’s not just necessary, it’s expected, he added.

Prime Minister Kishida Fumio also looked to the future of capitalism, calling for a new form of liberal democratic capitalism, balancing economic growth and distribution, in his special address.

The public and private sectors will need to work together to achieve this, he explained.

Restore trust

But those changes won’t happen without trust – a topic that emerged during the Davos Agenda sessions today.

Whether in response to the pandemic – “one of the rarest commodities”, Dr mike ryan, explained the executive director of the WHO health emergencies program – or, as Sharan Burrow, General Secretary of the International Trade Union Confederation, said that in putting in place a new social contract, today’s speakers were clear – work must be done to rebuild trust.

The private sector has a key role to play here, explained Sam McCracken of Nike N7 at the announcement of the Schwab Foundation’s 2022 Social Innovator of the Year Award for Social Entrepreneurship.

And, at the same session, Hahrie Han, director of the SNF Agora Institute at Johns Hopkins University, said we can restore trust if people are given the opportunity to become the architects of their own future.

The role of technology

From COVID-19 to climate change, technology is set to play a role in various sectors.

Prime Minister Naftali Bennett explained that innovation will be key if we are to avoid climate catastrophe.

Technology, especially data and information, has also played a key role in fighting the COVID-19 pandemic, he explained.

It’s not without its risks though – remote working highlighted cyber security threats.

But, the COVID-19 pandemic has also revealed the power of digitalization to solve challenges in Japan, for example, an aging population, the prime minister said Kishida Fumio noted.