#WEF

Surely there must be some mistake?!

Has the World Economic Forum (WEF) taken leave of its senses? Not even we think President Trump is a “world-class speaker” despite his capacity to draw huge crowds and make us all sit up and listen. There is a touch of irony to see Trump included by the WEF in this category. Poor old Al Gore will speak but presumably dud predictions has put him on the B-list.

A brief study of the upcoming live sessions published by the WEF reveals it isn’t hard to work out what an utter waste of aviation fuel the summit will be. Woke causes feature broadly. See the following list of live streams available;

The 26th Annual Crystal Award Ceremony

Join us in honouring exceptional Cultural Leaders who are improving the state of the world through their outstanding contributions to inclusive and sustainable change.

Redesigning Democracy in the Digital Age

From data dignity to quadratic voting, join economist and best-selling author Glen Weyl for an exploration of radical solutions to societal decision-making in the wake of unprecedented technological change.

The Fight for Artistic Freedom

Join Wanuri Kahiu on her journey from filmmaker to unintentional leader for freedom of expression in Kenya after her film.

On Music and the Human Spirit

On the 250th anniversary of Beethoven’s birth, conductor Marin Alsop shares lessons on how music can help cultivate joy in the darkest of times.

The Reality of Racial Bias

From politics to the public sector and from housing to education, racial bias perpetuates a crushing structural disadvantage for people around the globe. Join Phillip Atiba Goff as he illustrates how data and evidence-based approaches can be used to turn racial bias into a solvable problem.

The Role of Faith for a Cohesive and Sustainable World

Eighty-four per cent of the global population identifies with a religious group. With eroding social cohesion and near climate breakdown, how can the power of faith foster a cohesive and sustainable world?

Musical Moments: Yo-Yo Ma plays Bach’s Cello Suite No. 1

Cellist Yo-Yo Ma, 2008 Crystal Awardee and a member of the World Economic Forum’s Board of Trustees, performs Bach’s Suite for Solo Cello No. 1 to inspire a conversation about how culture helps us to seek truth, build trust and act in service of one another.

Free to Be (LGBTI)

Fifty years after the Stonewall riots in New York and the birth of the gay liberation movement, LGBTI youth still face rejection and discrimination, resulting in high mental illness and suicide rates among LGBTI youth. How can schools and families contribute to safe and inclusive environments for all?

Seeing the Other

Join photojournalist Rena Effendi to learn about her mission to give a voice to the voiceless through her collection of portraits and places celebrating the strength of the human spirit. Rena Effendi is a Fellow of the New Narratives Lab, a mentorship programme dedicated to fostering a new and diverse generation of cultural leaders.

An Insight, An Idea with Jin Xing

A conversation with choreographer and 2020 Crystal Awardee Jin Xing on her journey from male army colonel to one of China’s most influential female TV personalities.

The Power of Youth

From the 2018 March for Our Lives fighting for gun control in the US to the Global Climate Strike in 2019, young people are mobilizing and increasingly influencing today’s most pressing political and environmental issues. How can these movements transform their will for change into action?

The Beauty of Inclusion

Join Thando Hopa, the first woman with albinism to appear on the cover of Vogue, on her journey to unearth the missing stories needed to achieve equality for all persons. Thando Hopa is a Fellow of the New Narratives Lab, a mentorship programme dedicated to fostering a new and diverse generation of Cultural Leaders.

A Conversation with will.i.am

Join a conversation with musician will.i.am and young activist Naomi Wadler on the fight to end gun violence, and how they are influencing policy change and inspiring the next generation.

Augmented Voices

Join vocalist and researcher Harry Yeff, also known as Reeps100, who reveals our true range of communication and the hidden potential of the human voice.

How to Turn Protest into Progress

Anti-government protests fuelled by anger about inequality, corruption and political repression are paralysing cities and nations. How can movements transition from protest to political change more effectively? This session was developed in partnership with Tortoise Media.

Power of Narratives

Powerful narratives, consisting of shared causal and principled beliefs, are the prerequisite for human collaboration, yet also lead nations to war and move markets. How might societies co-create powerful narratives for a cohesive and sustainable world?

Being Out and Equal

While openness about being LGBTI at work increases well-being and productivity, more than half of the community avoids being open about their sexual orientation and gender identity in professional settings for fear of negative consequences. What are best practices to create open and inclusive workplaces for all? Access the Platform for Shaping the Future of the New Economy and Society on TopLink.

Although we shouldn’t be too critical of WEF. Economics does find its way into the subject matter.

Behind close doors, we note that Greta Thunberg will speak on a panel discussing “Averting a Climate Apocalypse“, Al Gore will speak on “What’s at stake: The Arctic” and Christina Figueres will speak on “Swapping subsidies for Green Incentives.” Precious little open-mindedness to be expected in those sessions.

Other topics will include the following;

After Brexit: Renewing Europe’s Growth

As the European Central Bank maintains interest rates at record lows, the economic forecast for the region remains weaker than desired. What will a new Commission and the eventual withdrawal of the United Kingdom mean for the European economy?

Shaping the Global Growth Agenda

In 2019, global debt levels soared to a record $250 trillion, alongside a “race to the bottom” for interest rates. What level of debt, inflation and interest rates are healthy for economies to grow?

Stakeholder Capitalism: Creating Common Standards for Social Excellence

From supply chain labour standards to operating in conflict-affected regions, navigating the social responsibilities of a company is a complex endeavour. What difficult decisions are chief executives facing in the pivot towards a broader social purpose?

In the face of all the dire predictions of climate doom to be reported by the media, we can be rest assured the assembled globalists will be telling our government officials that we minions stand the best chance of survival – economic, environmental and otherwise – if we submit to their superior intelligence.

50 years of Davoz. The Global Shapers will be the rope the Multistakeholders use to hang the rest of us with

Davos is upon us. That event where the world’s elite congregate via private jet and helicopter transport to tell the rest of us to reconsider our use of a second hand SUV to take the kids to soccer practice for the sake of the planet.

This event marks 50 years. What started as a good idea is now nothing more than a networking event for crony capitalists looking to exploit gutless governments into backing their schemes and ridiculing those that don’t sign up for multi-million dollar memberships.

We should applaud the World Economic Forum (WEF) for helping perpetuate the culture of systemically brainwashing our youth.

In the 2020 Global Risks report, we get the following table which highlights adults (‘Multistakeholders’) and the youth (‘Global Shapers’). Who knew that environmental issues took the Top 5 positions among the kids? Privacy be damned. Adults were more concerned with politics and trade wars. Hint hint President Trump.

The long term outlook produced even more drama. The adults seem to have appeased the kids on climate but their private jet powered life styles at the very least mention global governance failure and the risk of asset bubbles popping.

The youth on the other hand ramped up the global warming rhetoric to 11. The Top 6 concerns are climate and #8 turns out to be about climate refugees. That’s the result of a Marxist education, one that NZ is only too proud to boast about. Forget rational debate to engage kids on how to see two sides of an argument. They will be admonished for speaking out against the orthodoxy. Or doxxed on social media. Or both. Is it any wonder we have a mental health crisis?

Although it is worth mentioning that the deteriorating global economic fundamentals highlighted in the same report risk handing the kids their ideal utopia by way of a deep recession thanks to excessive global debt levels and low interest rates. It is unlikely these self-entitled ‘Global Shapers’ have ever contemplated, much less lived through such an outcome with all of their earth ending hysteria. Best tell them that if they pursue their dream of 100% renewables and zero carbon emissions they can bask in the shared misery of having let their teachers blindly mislead them by never challenging them on anything. Experience is a hard teacher. They’ll get the test first and the lesson afterwards. But such reality will be too late and take decades to fix.

Perhaps these ‘Global Shapers’ would do well to study the reasons why inequality and social upheaval will continue to grow if the world pursues the barking mad drive to decarbonise the world. The report even makes a point to talk of the disruption in France by the yellow vests. It noted,

In France, for example, the persistence of the “gilets jaunes” movement had caused businesses more than US$11.4 billion in losses by December 2019 and complicated the government’s plans for economic revival.

The yellow vests are protesting over regulation and climate related taxes.

Under the chapter of ’10 years left’, we got the following passage which is full of untruths as to beggar belief.

Governments, markets and, in an increasing number of societies, voters are awakening to the urgent realities of climate change—it is striking harder and more rapidly than many expected. The last five years are on track to be the warmest on record. Climate-related natural disasters such as hurricanes, droughts and wildfires are becoming more intense and more frequent, reportedly now averaging a disaster a week. Polar ice is melting more quickly than anticipated, with drastic implications for sea levels and coastal populations. Severe weather is worsening: the last year witnessed unprecedented wildfires and devasting storms across the globe, sea ice loss in the Arctic and record-breaking heatwaves in Europe.”

Yet how was it that Queenslanders voted to keep the incumbent government in power because of its support for a coal mine? Why is China committing to 300-500 new coal-fired power plants?

How is it that the UN has reported categorically that it has ‘low confidence’ on any shift in the behaviour of natural disasters? In the UNIPCC’s March 2018 report on weather extremes with respect to anthropogenic induced global warming) it says,

“…There is low confidence in observed trends in small-scale phenomena such as tornadoes and hail because of data inhomogeneities and inadequacies in monitoring systemsin some regions droughts have become less frequent, less intense, or shorter, for example, in central North America and northwestern Australia. There is limited to medium evidence available to assess climate-driven observed changes in the magnitude and frequency of floodslow confidence for the attribution of any detectable changes in tropical cyclone activity to anthropogenic influences..low confidence in projections of changes in extreme winds.. low confidence in projections of changes in monsoonslow confidence in wave height projections…overall low confidence because of inconsistent projections of drought changes…low confidencein projected future changes in dust storms…low confidence in projections of an anthropogenic effect on phenomena such as shallow landslides.”

Where is the evidence of 10s of millions of climate refugees fleeing rising sea levels an coastal populations?

Virginie K. E. Duvat of the Institut du Littoral et de l’Environnement, University of la Rochelle-CNRS, La Rochelle sponsored by the French National Research Agency; French Ministry of Environment, Energy and Oceans (MEEM) wrote.

Analysis “using tide gauges and satellites showed 30 Pacific and Indian Ocean atolls including 709 islands, revealed that no atoll lost land area and that 88.6% of islands were either stable or increased in area, while only 11.4% contracted.

This confirms a 2010 study by Webb & Kench which revealed,

that 86% of islands remained stable (43%) or increased in area (43%) over the timeframe of analysis. Largest decadal rates of increase in island area range between 0.1 to 5.6 ha. Only 14% of study islands exhibited a net reduction in island area. Despite small net changes in area, islands exhibited larger gross changes.

There is even reference to properties sold in Florida and the risk they become uninsurable. Then why is the Florida house price index at record highs?

What about record breaking cold waves in Europe and Canada? Unprecedented wildfires and storms? Not according to the data.

Unprecedented media sensationalism more like it.

One comment made in the report was the fact that 14x more women die than men during natural disasters. Is this proof there are only two biological genders or are the studies on non-binary deaths during disasters incomplete? This may have to be a separate break out session.

The report also issues this stark warning.

Aside from a number of vanguard first-mover champions, most companies, too, appear ill-equipped to address climate risk.

Ill-equipped or paying lip service?

Take Josh Bayliss, CEO of Virgin Group. He said,

“It’s definitely true that right now every one of us should think hard about whether or not we need to take a flight.”

Why doesn’t he close down the airlines in the portfolio? Instead of waiting for his customers to grow a conscience and do the right thing why not force their choice? The obvious answer is that it’s hypocritical.

Yet even our own ASIC feels the need to force the minds of corporates to deal with climate change. Forget the data that shows reporting on the subject has collapsed since 2011 from an already low level because the free market mechanism reveals that pricing to offset such fears simply don’t exist in any meaningful way. The regulator’s wish to enforce reporting only proves it needs to construct a narrative to ward off a problem that doesn’t rate much of mention other than virtue signaling.

Perhaps this urgency to get regulators to pressure corporate leaders showed up with this snippet in the WEF report,

In the World Economic Forum’s survey of business leaders, none of the top 10 risks globally are environmental, suggesting a critical blind spot…industry partners of the World Economic Forum ranked environmental risks higher than business leaders surveyed more broadly…Overall, lack of consistent awareness-raising among business leaders may create first-mover advantages for some, but it also potentially demonstrates the much more concerning overarching risk: that many businesses may not be planning for the physical and financial risks that climate change may have on their activities and across their value chains.

So in plain English that says that the majority of corporates that don’t pay into the WEF’s Davos slush fund are evil and if we can get the governments of the world to force change, its members will be the first beneficiaries of any new climate legislation.

Yes, Global Shapers are merely the rope that the Multistakeholders will use to lynch the rest of us with.

BoJo bans Davos attendance by his ministers

UK PM Boris Johnson has reportedly said that his ministers won’t be allowed to travel to Davos to attend the World Economic Forum citing,

Our focus is on delivering for the people, not champagne with billionaires…[Davos] is a great big constellation of egos involved in massive mutual orgies of adulation.”

The cost of membership and attendance is extremely high.

As we pointed out yesterday, the depth of WEF analysis leaves a lot to be desired. Still that won’t stop elites flying in to Zurich Airport on private jets before hitching helicopter rides to the summit and talk about we need to live more responsibly.

Good call PM.

Why the WEF’s 2020 gender gap report rankings are utterly meaningless

The most glaringly obvious anomaly in the World Economic Forum’s (WEF)’s 2020 Gender Gap report is that Syrian women are supposedly luckier to have a higher health and survival ‘gender gap’ score even though they live 15 years shorter than Aussie women. Go figure?!?

Await the media parroting headlines based on the WEF’s executive summary of the latest 371-page 2020 report on gender equality without any context. Australia slipped in the rankings, so don’t be surprised to see our media slam us without analysing the data behind the claims. Because within the data, it is marginal. Moreover, the basis of the data collection is frankly ridiculous.

We should remind ourselves that the WEF is an organisation that prides itself on rank hypocrisy. It wasn’t so long ago that 1,500 private jets landed in Davos to debate the number one concern at the WEF conference – climate change. As there is no airport at Davos, some took helicopters from Zurich Airport to the summit.

The WEF believes that the economic gender gap will take 257 years to close, up from 202 years in 2018. Technological change is driving a disproportionate effect, with women more highly represented in roles hit hardest by AI (e.g. retail). What’s more, not enough women are entering professions where wage growth is fastest. It is most likely the old white male patriarchy that forced women to go into retail rather than of their own volition.

It would be all too easy to chastise Australia for falling from 39th to 44th position, but the reality is that we improved our overall score versus 2018. Before the luvvies lavish praise on New Zealand, which climbed two places to 6th but saw its aggregate score decline, Australia is only 8.5% below NZ. So is that worth beating ourselves up for?

In the subcategory of Economic Participation and Opportunity, Australia ranks 49th vs NZ at 27th. Even though there is only a 4% difference. Liberal heads will explode to know that Trump’s America ranks above NZ.

In terms of educational attainment, Australia ranks =1st, despite the quality of our education system leaving much to be desired. Although it is a bit disingenuous as 38 countries are equal first. We just happen to benefit from alphabetical ordering.

Australia ranks 104th in health & survival but it is less than 1% difference to the 39 first placed countries (which include Angola and Syria). Although if we take Syria as a reference market, the average healthy life expectancy for women is 59.5 years vs 52.5 for men meaning that the gender gap helps score the war-torn country higher than Australia. Australia is 74.1 and 71.3 years respectively. Still,  FNF Media is sure Syrian men and women would gladly trade places with Australians even if, in this instance, the gender gap narrowed on this metric.

Note that even last placed China is less than 4% off the top spot in the health and survival gender gap subcategory. Precious little insight.

Political empowerment is where Australia gets smashed with a paltry rank of 57th. Presumably, if Australia had more female politicians then perhaps our rank would catapult. Should the voting public be admonished if Dr Keryn Phelps was beaten by Dave Sharma? Do voters select candidates on ability or genitalia?

Of interest, all one need do is a simple weighted average of the four subcategories to come up with the aggregated ranking scores provided by WEF.

If we stripped out political empowerment, Australia is within 1% of NZ and 4% of where #1 ranked Iceland is. Hardly anything to feel triggered by. Our score would be 0.898 vs the 0.731 awarded. NZ would be 90.8% vs 0.799 awarded. Iceland would be 93.5% vs 87.7%. Why haven’t the media done their homework?

In short, the supposed gap WEF thinks will take 99.5 years to close won’t be anything near that for Australia.

Which stands to reason, shouldn’t some categories be weighted higher than others in terms of closing a gender gap? Surely women in one part of the world might rank economic participation at 50% as opposed to 25%. Given health is so close across 153 countries measured, is it worth ditching that as a metric?

Between countries, maybe Zambian women place 100% emphasis in their struggle on economic wellbeing but Icelandic women 100% on political empowerment. If that was so, Zambian women would rank 0.831 vs Icelandic women at 0.701. The most value that could be added by the WEF would be to ask women in each country what was important to them. That way we wouldn’t have to standardise rules and regulations. Because this report effectively says that we should all aspire to be Iceland even if ambitious women in Botswana don’t wish to seek a career in politics.

The WEF concluded the 371-page report with,

The Global Gender Gap Report 2020 provides a comprehensive overview of the current state of the global gender gap and of efforts and insights to close it. The index offers a benchmarking tool to track progress and to reveal best practices across countries and subjects. This year the report finds that the gender gap has closed slightly since last year, yet it will still require 99.5 years to achieve full parity at the current pace.”

Unfortunately if one flips through to the country profiles, there are so many statistical gaps in certain categories making meaningful comparisons even more meaningless than they already are.

Therein lies the fatal flaw in this doorstopper. Data can be used in ways to paint a picture. It is so easy to put Australia in a negative light but in most metrics, while our rank may have fallen our raw scores have improved. But don’t be surprised if the media just tells you how bad we are. Narratives are easy to draw from a document that proves the adage of “garbage in, garbage out!” Yet don’t be surprised to see politicians making hay over the findings, if we can even call them that!