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24 January 2020

Davos 2020: Climate Change at the Centre of Talks

James Rowbury, Investment Research Coordinator

Despite the Prime Minister’s hard line against Cabinet members jetting off to Davos, a quarter of them flew out to the Swiss mountain town to rub shoulders with the world’s economic leaders. A Downing Street spokesperson described the event as “Champagne with billionaires”, while the Leader of the Opposition, Jeremy Corbyn, paints a more cutting image, calling it the “billionaires’ jamboree”. Nevertheless, the UK Chancellor Sajid Javid was granted an exception to represent the UK at the event.

TIME’s Person of the Year 2019 and climate activist, Greta Thunberg, claimed a central spotlight with her attendance, highlighting the need for a global sustainable economic model. Getting the World Economic Forum’s 3,000 delegates to agree is another matter. President Trump launched an unsurprisingly bitter attack at climate change activists, describing them as “perennial prophets of doom”, a comment presumably aimed at Greta herself. The toing and froing between the 17-year-old and a man nearly five times her age is a symbol of the heated divisions in global politics.

Social unrest was cited by the director of the International Monetary Fund, Kristina Georgieva, painting a gloomy picture of sluggish growth – perhaps the most indicative comment that we are entering an uneasy decade of change, requiring a radical reconsideration of political and economic institutions.

Davos 2020: Climate Change at the Centre of Talks
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