World Economic Forum to host ‘twin summit’ in January 2021

The World Economic Forum will be hosting a unique "Twin Summit" in January 2021 with the theme "The Great Reset". 

Created On: Jun 4, 2020 18:32 IST
WEF summit
WEF summit

The World Economic Forum will be hosting a unique "Twin Summit" in January 2021. The world body made the announcement on June 3, 2020. 

The unique 'twin summit' will be held in Davos, Switzerland with the theme "The Great Reset". The 51st WEF summit is expected to see wider participation with virtual link-ups in 400 cities across the world during the main event. 

The World Economic Forum said in a statement that the COVID-19 crisis and the economic, social and political disruptions caused by the pandemic have exposed inadequacies in the health care system and the financial and energy systems across the world. 

WEF Chief Executive Klaus Schwab stated that the COVID-19 crisis has shown us that the old systems are not fit for the 21st century any more. The WEF Chief Executive made the statement while hosting a virtual meeting at the WEF headquarters in Geneva. 

The WEF Chief Executive stated that the COVID-19 crisis has accelerated the world's transition, paving way for the fourth industrial revolution. He said that countries have to make sure new technologies remain human-centered and serve society as a whole, giving everyone fair access.

Schwab further stated that he intends to host a twin summit with some delegates joining in Davos and others connecting virtually from around 400 cities across the world. 

The announcement comes at a time when most major summits and conferences have been cancelled in the wake of the global coronavirus outbreak. 

Background

The 50th WEF summit was held in January 2020 with the theme 'Stakeholders for a Cohesive and Sustainable World'. The theme focused on the idea that managers of the companies have a duty towards customers and the whole economy, besides the company's shareholders.  The four-day WEF event, which began on January 21, 2020 saw participation of over 50 heads of State from 117 participating countries including US President Donald Trump and Russian President Vladimir Putin.

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