![]() ![]() īy mid-April 2020, against the backdrop of the COVID-19 pandemic, the COVID-19 recession, the 2020 Russia–Saudi Arabia oil price war and the resulting "collapse in oil prices", the former Governor of the Bank of England, Mark Carney, described possible fundamental changes in an article in The Economist. President Joe Biden, New Zealand Prime Minister Jacinda Ardern and Canadian Prime Minister Justin Trudeau incorporated ideas based on a "reset" in their speeches. It sees periods of global instability – such as the financial crisis and the COVID-19 pandemic – as windows of opportunity to intensify its programmatic efforts.Īccording to The New York Times, BBC News, The Guardian, Le Devoir and the Canadian Broadcasting Corporation, conspiracy theories spread by the American far-right and conservatives surged at the onset of the Great Reset forum and increased in fervor as leaders such as U.S. The World Economic Forum generally suggests that a globalized world would be best-managed by a self-selected coalition of multinational corporations, governments and civil society organizations (CSOs). The Great Reset was also to be the main theme of the WEF's summit in Lucerne in May 2021, which was postponed to 2022. In June 2020, the theme of the January 2021 50th World Economic Forum Annual Meeting was announced as "The Great Reset", connecting global leaders both online and in person in Davos, Switzerland, with a network of stakeholders in 400 cities around the world. These included the re-invigoration of science, technology and innovation, a move towards net zero emissions globally, the introduction of carbon pricing, re-inventing longstanding incentive structures, rebalancing investments to include more (though not all) green investments, and encouraging green public infrastructure projects. Īt the launch event for the Great Reset, Prince Charles listed key areas for action, similar to those listed in his Sustainable Markets Initiative, introduced in January 2020. In her keynote speech opening the dialogues, International Monetary Fund director Kristalina Georgieva listed three key aspects of the sustainable response: green growth, smarter growth, and fairer growth. WEF chief executive officer Klaus Schwab described three core components of the Great Reset: the first involves creating conditions for a "stakeholder economy" the second component includes building in a more "resilient, equitable, and sustainable" way-based on environmental, social, and governance (ESG) metrics which would incorporate more green public infrastructure projects the third component is to "harness the innovations of the Fourth Industrial Revolution" for public good. The meeting brought together high-profile business and political leaders, convened by Charles, Prince of Wales and the WEF, with the theme of seizing upon the global crisis to rebuild society and the economy following the COVID-19 pandemic. The Great Reset is the name of the 50th annual meeting of the World Economic Forum (WEF), held in June 2020. For the 2020 book, see Great Reset § Book. For the 2010 book, see The Great Reset (book).
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