Road accident deaths drop by 50% in Saudi Arabia    SR 3.95 million fines for 3 employees of a company and 6-month jail for one for violating Capital Market Law    Qassim emir launches 52 health projects costing a total of SR456 million    BD and INS partner to elevate standards of infusion care in MENAT    Dubai Design Week launches its 10th edition, celebrating creativity and innovation    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    Italy's 'Libra' to arrive in Albania with just eight migrants on board    South Africa shuts border crossing with Mozambique over poll unrest    French families sue TikTok over harmful content that allegedly led to suicides    Harris tells supporters 'never give up' and urges peaceful transfer of power    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Navigating risks with optimism: Reflections on the WEF Special Meeting in Riyadh
Published in The Saudi Gazette on 30 - 04 - 2024

The World Economic Forum's (WEF) special meeting in Riyadh this week provided a fresh perspective on some of the world's major development issues and growth opportunities.
As host nation, the Kingdom of Saudi Arabia injected ambition and optimism into the discussions, which helped to balance the caution and concern around geopolitical crises, climate change and deglobalization issues that we all currently face.
This sense of caution and concern had already been captured in the Global Risks Report, which was launched at the WEF in Davos in January.
That report, produced in partnership with Zurich Insurance Group and Marsh McLennan, surveyed more than 1,400 global experts and leaders to provide an insight into the concerns that kept decision-makers awake at night, as part of WEF's efforts to improve risk preparedness and resilience.
The results showed a predominantly negative outlook, with 30% of global experts expecting an elevated chance of global catastrophes in the next two years and nearly two thirds expecting this in the next 10 years.
Much as they did during the talks in Riyadh, GCC nations like Saudi Arabia and the UAE emerged as more optimistic than their peers in Europe and America in the report.
With economic diversification, investment and the positive stance of governments in the region, these countries are distinguishing themselves with a 'can-do' attitude in the face of global challenges.
Many of the key international initiatives of the moment are being led with innovation and investment from the Middle East.
Take the conversations around energy security and climate policy. Globally, the transition between fossil fuels and renewables is incredibly complex and often slow moving, given the limitations of current infrastructure.
In 2023, we established the Marsh McLennan Climate & Sustainability practice to help clients develop strategies and risk management solutions in this area, and we know from experience how challenged some of the largest businesses in the world are by these issues.
However, speakers from the Kingdom made it clear how much progress has been made in recent years.
Saudi Arabia's pledge to generate 50 percent of its electricity from renewable energy sources by 2030 has helped set the pace for the world, supported by a clear focus on energy security, accessibility, and affordability.
It's possible also to make a link between the positive tone set by Saudi Arabian representatives in Riyadh, and the progress the Kingdom has made in engaging women in the workplace in recent years.
By embracing initiatives that promote gender equality and inclusion, the Kingdom has demonstrated its commitment to harnessing the full potential of its population and driving sustainable development.
As a business leader, I have always seen diversity, equity, and inclusion as a means to propel growth in organizations; by enabling individuals to maximize their potential and contribution, the organization can only benefit.
Studies continue to show that inclusive leadership, including gender diversity, improves decision-making by incorporating more diverse perspectives and fostering more ethical governance.
Of course, alongside the optimism, we must remain careful of the risks and challenges that were flagged at the WEF in Riyadh.
Geopolitical tensions, economic uncertainty, and logistical complexities demand careful consideration and robust risk management strategies.
However, by approaching these challenges with a spirit of inclusivity and a commitment to dialogue and collaboration, we can navigate the risks while seizing the opportunities for positive growth and development.
— Chief Executive Officer, Marsh McLennan India, Middle East & Africa


Clic here to read the story from its source.