Like every year in January, the World Economic Forum 2023 took place in Davos, Switzerland.
The theme for this 53rd edition was "Cooperation in a fragmented world."
The global landscape in recent years has undergone significant changes, bringing us face to face with a new challenge: energy security.
Decarbonization is no longer solely a climate-related issue; it is now intricately linked with the economy and politics.
The need for solutions and cooperation to address global fragmentation has become evident.
To achieve an effective environmental transition, sustainable globalization processes must be set in motion, guided by principles that enable real environmental transformation.
Government support for businesses will play a pivotal role.
This year's edition saw the participation of over 2,700 global leaders from 130 different countries.
Over the past year, following the outbreak of the war in Ukraine, a serious energy issue has emerged: about 80% of the world's countries rely on fossil fuels that do not ensure energy security. It is imperative to expedite the energy transition processes.
The top priority established by the 53rd World Economic Forum is to limit global warming to 1.5 degrees Celsius. This entails accelerating the transition to emission-free energy sources, while incentivizing the market with appropriate funding.
At the World Economic Forum 2023, the "Inflation Reduction Act" was discussed, through which President Biden will finance the green transition of American businesses.
Additionally, a new industrial plan for Europe, the Green Deal Industrial Plan, was announced. The plan aims to enhance the competitiveness of industries that operate with low environmental impact technologies.
The Green Deal aspires to make Europe the homeland of green industry and zero emissions.
The Commission proposes to temporarily adapt existing state aid rules to expedite and simplify approvals for new clean technology production sites.
This plan will support investments in industries adopting low environmental impact technologies, furthering the goals set by WEF 2022 for industrial decarbonization and energy transition to address global challenges.