More than 400 participants from the World Economic Forum's communities of Industry Strategy Officers, as well as senior deputies to the CEO Industry Action Groups, came together this week for the Industry Strategy Meeting 2021.
The aim? To look at where sectors can collaborate so industries can drive growth and put stakeholder capitalism into practice.
With the COVID-19 pandemic still occupying attention globally, a year after the Industry Strategy Meeting 2020, conversations looked at its impact and a pathway to recovery. This article looks at just 3 of these sessions.
Getting to Net-Zero
Wipro is a founding member, alongside Microsoft, Unilever and others, of the Transform to Net Zero coalition, which aims to accelerate the transition to a net-zero emissions global economy by 2050. Wipro MD and CEO, Thierry Delaporte said: "Everyone is clear on the fact that climate crisis is real, it's urgent, it's complex. But what we see also is that if 86% of the top 500 companies in the world are committing this target of carbon neutrality by 2050, 30% feel they're on track, the reality is that most of the companies are behind and that's why we really need to accelerate the pace and the awareness."
He added that companies are on a journey, just five years ago board and investors paid little attention to environmental topics - and now they're more of a priority, but shareholders assume performance will continue. "We must create the environment for a virtuous and consistent combination of driving transformation and performance." The next generation of talent will never want to work for a company that doesn't take its responsibility regarding the environment seriously. "It is one of the big drivers for change."
Technology is Part of the Solution
Delaporte said technology can be part of the solution: "By leveraging data, by leveraging the cloud, you're creating the environment for flexibility for only consuming what you need. Artificial intelligence is also a driver to help you reduce consumption. All these aspects are positive, but with lack of awareness, you may only see the negative aspects of technology."
Read more about the The World Economic Forum's Industry Strategy Meeting here.