Here’s what you need to know about Wednesday’s WEF meeting

Kathryn Lurie

DAVOS (Switzerland), January 18 (Reuters) – Climate change was a major topic at the World Economic Forum’s annual conference. U.N Secretary-General Antonio Guterres urged business leaders to adhere to guidelines outlined by an expert panel to make credible net zero pledges and avoid greenwashing.

The International Organization for Standardization, an international standard-setting organization, and the United Nations launched the guidelines in November. These guidelines are meant to serve as a reference text for organizations and assist them with their plans.

Climate change will remain at the center of attention with activist Greta Thunberg arriving in Davos to meet Fatih Birol, Executive Director of International Energy Agency (IEA).

On Wednesday, Ukraine was the other focal point. President Volodymyr Zilenskiy told WEF delegates via video link that Western supplies for tanks and air defense units should be more rapid and delivered quicker than Russia’s.

Zelenskiy spoke before Western allies met at the Ramstein airbase in Germany on Friday. The focus was on Berlin’s willingness to supply its Leopard battle tank to Kyiv for the Russian invasion.

China’s Vice President Liu He welcomed foreign investment Tuesday and declared his country open after three years of isolation from the pandemic. Gita Gopinath, the International Monetary Fund’s Deputy Manager, hailed this as a positive sign.

China could experience a significant recovery in economic growth starting the second quarter, Gopinath stated. This is based on the current infection trends following the removal of most COVID-19 limitations.

She said that if the current infection surge continues, there could be a rapid recovery, starting after the first quarter.

Stephane Bancel from Moderna was also focused on coronavirus. He stated that the U.S. company was actively in discussions to supply COVID-19 vaccid vaccines to China and added that talks with Beijing also included the topic of factories as well as other products, such as cancer treatments.

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