NIFTY 50

I foresee an intergenerational crisis, says World Economic Forum chief Klaus Schwab

Updated : January 20, 2020 09:27 AM IST

Klaus Schwab, chairman of World Economic Forum (WEF), has said that he foresees an intergenerational crisis as "we face an emergency situation" in terms of environmental issues but "we have not yet the sense of urgency to address those issues".

“Some people will say multilateralism has to be again cultivated in Davos but we have an urgency in emergency related to the environmental issues, climate change... also biodiversity and so on," Klaus Schwab told CNBC.

“Young leaders like Greta Thunberg can shake up our mindsets but in the end, it needs action. So it is a combination of activists’ alarming voices but that is not enough... action has to follow,” Schwab added.

On the World Economic Forum’s annual meeting turning 50 this year, Schwab said, “For me, it means to celebrate 50 years of stakeholder capitalism because I wrote a book in 1970 and conceptualised for the first time what we call today a stakeholder capitalism and I wanted to create a place where stakeholders could meet and that was the original idea of Davos."
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV