Changing Mindsets at Davos
Jackson Rowland at the main foyer entrance of the 2022 Annual Meeting at Davos.
In May this year, our Director of Ākina Invest, Jackson Rowland, travelled to Davos to attend the World Economic Forum’s Annual Meeting. Jackson met with world leaders, workshopped sustainable finance initiatives, and heard first hand reports of the most pressing challenges and opportunities facing our planet. It was the absence of one particular theme which got him thinking the most. Jackson took some time to share his reflections of the trip.
The World Economic Forum (WEF) needs little introduction although in New Zealand it’s lesser known. At its core, the WEF is an international organisation committed to improving the state of the world. It does this through a variety of activities, including insight generation through research and reports such as the Global Risks Report, developing leaders through communities like the Young Global Leaders and the Global Shapers Community (which I have been a part of for a number of years) as well as events, such as the Annual Meeting held in May this year.
The Annual Meeting is the WEF’s flagship event and takes place in Davos each year. Leaders from around the globe are brought together to convene, collaborate and ultimately improve the planet. This year’s meeting theme was ‘History at a Turning Point: Government Policies and Business Strategies’, recognising the multiple crises that our world is currently facing.
There were over 2,000 people at the meeting, including 50 Heads of State, 125 Global Shapers and Young Global Leaders, 200 NGO leaders, 300 Government representatives, 400 media representatives, and 1,250 private sector leaders.
Helen Clark moderating a panel titled 'The Lost Decade?', discussing the set backs the globe has faced in the past few years. Pictured: Helen Clark, Kiril Petkov, Hina Rabbani Khar, Caroline Anstey
The meeting was made up of special addresses from the likes of Volodymyr Zelensky, Ursula von der Leyen, and Olaf Scholz, hundreds of panel sessions across a myriad of different themes, and workshops to dive deeper into specific areas. While the insights across these sessions were pretty exceptional, it was actually what they didn’t say which left the biggest impression on me.
Now, before I dive into the weeds, I want to emphasise that I think the WEF’s activities at meetings like this absolutely deliver positive impact for the world. Initiatives like Gavi the Vaccine Alliance, started back in 2000 at Davos thanks to the influence, reach and will to do good that attendees have.
Most of the panels were focused on how the world could be improved one way or another, but the words ‘social enterprise’, ‘impact investing’, or even ‘impact’ were rare commodities. As was a CEO who was able to share anything more significant for our planet than how they were meeting, or even exceeding, their ESG or carbon offsetting requirements.
“While the insights across these sessions were pretty exceptional, it was actually what they didn’t say which left the biggest impression on me. ”
While these actions are important, they also come in response to deep consumer or legislative pressure. Which, by their reactive nature, will never be enough to change the world at the pace we need. What we needed to be hearing that was distinctly lacking at Davos, were ideas and initiatives that are more proactive, transformative, or even close to shifting the needle on the problems we’re facing.
Part of the reason I was so surprised by this is that I have no doubt that most of those CEOs would agree more work needs to be done. Whether it’s thanks to insights from Oxfam highlighting that one million people are expected to slide into extreme poverty every 30 hours this year. Or that we’re on track to reach a catastrophic 1.5 degree temperature rise by 2040. Or the growing global food crisis. Erosion of democracy. Slow economic recovery (/likely recession). War. Take your pick. But if it’s only legislation that will make businesses increase their role in improving our world, then we’re in trouble.
This is more than just semantics. The words I heard (and didn’t hear) reflect the prevailing mindset of big business. A mindset of compliance. Meeting legislation. Ticking a box.
What if this mindset shifted to a more positive, problem solving, world improving mindset? Where businesses used their capacity, resources and opportunities to identify how they can improve the world? And maybe even grow the value of their business in the process?
Central lounge at the Annual Meeting
Now, here’s the good news. This mindset shift is possible, and happening. Ākina has been changing ‘business as usual’ in Aotearoa New Zealand for over a decade now.
Working with our partners we’ve catalysed the impact investing market in NZ, proving that you can deliver meaningful financial returns while delivering significant social & environmental outcomes. Ākina has demonstrated again and again how much impact can be enabled through social procurement, and incorporating impactful enterprises into your supply chain. We’ve enabled countless large businesses to increase their positive impact on the world, while simultaneously strengthening their value proposition.
These changes that businesses make are really just the trojan horse. They are the tangible, appealing, achievable activities that demonstrate just how easy it is to create significant impact through your normal business practices. Making these changes starts businesses on the path to a far more significant mindset shift.
“The words I heard (and didn’t hear) reflect the prevailing mindset of big business. A mindset of compliance. Meeting legislation. Ticking a box. ”
We need more businesses start making the change from just ‘meeting compliance requirements’, and focus on valuing the broader Impact when the goal is ‘improving the world through business’.
What better way to catalyse this than through a platform like your organisations Annual Meeting? Maybe next year’s theme could be ‘Business rediscovering its' potential’, and showcase some of the world’s most regenerative businesses? Or even just ‘How we can do more.’ Whatever it is, I have no doubt that we will continue to see more and more businesses demonstrating just how valuable it can be when we do business differently, and improve our planet in the process.
Jackson attended the Annual Meeting thanks to his involvement in, and support from, the Global Shapers Community, an initiative of the World Economic Forum enabling young people to improve their local community.