The 54th Annual Meeting of the World Economic Forum (WEF) will take place this week in Davos, Switzerland, and according to the organisation, this event “will provide a space to focus on the fundamental principles driving trust, including transparency, consistency, and accountability”.
South Africa will be represented by the Minister of Finance, Enoch Godongwana, who said at a breakfast pre-meeting on January 11 that SA’s message to the world at Davos is that the country “remains open for business and is committed to creating a conducive environment”.
“We remain steadfast in carrying out structural reforms to support and accelerate economic recovery. As government, we remain resolved to deal with the energy and logistics challenges that are adversely impacting our economy,” Godongwana said.
PRIVATE MONEY NEEDS TO GO TO GREEN INVESTMENTS
Nigel Green, CEO of the deVere Group, said on Monday that he believes that leaders should push for the mobilisation of trillions of dollars from private money into sustainable investments to combat climate change.
“The threat of climate change looms large, impacting ecosystems, economies, and communities worldwide. The trillions of dollars required to transition to a sustainable future can only be sourced from the vast financial sector, making it imperative for Davos 2024 leaders to rally for the urgent unlocking and mobilisation of private finance,” he said in a statement.
He urged the leaders at Davos to advocate for more money for sustainable investments, which will help drive innovation and accelerate the transition to a low-carbon economy.
“By moving their funds into sustainable investments, companies will also be able to demonstrate their commitment to environmental stewardship. This not only enhances their reputation, but also encourages a culture of responsible business that aligns with the expectations of increasingly environmentally conscious consumers and investors,” he concluded.
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