Analysis

Davos 2020: What mattered

McKinsey global managing partner Kevin Sneader during the 2020 WEF Annual Meeting panel: Leading a 21st Century Corporation, held January 22, 2020. By Kevin Sneader January 27, 2020 Unseasonably and somewhat unnervingly mild temperatures provided a fitting backdrop for what emerged as the top issue at the 2020 World Economic Forum Annual Meeting: climate change and its risks. But that was far from the only topic. At the end of this year’s Annual Meeting, I sat down with Rik Kirkland, our director of publishing, to share my reflections. Climate risk is firmly established as a C-suite issue. Research published in reports like the McKinsey Global Institute’s “Climate risk and response: Physical hazards and socioeconomic impacts” has clearly convinced more and more global policy makers and business leaders that the problem of climate change has moved from a far-off priority to a here-and-now risk that demands action. Personal experiences, whether from watching the wildfires in Australia or California or numerous other small examples, have also brought home the reality that this is a topic that requires leadership from the top. While there wasn’t much debate about the science, executives and investors were concerned about the lack of reliable data on the efforts companies and society are making, not to mention their impact. Greater clarity is required in order to speed development of new standards to help markets act more efficiently and reward progress. Beyond metrics, the leaders I spoke with are thinking about the problem in new and creative ways. They are taking a clear-eyed look at what is driving their carbon footprints, beginning to quantify the cost of inaction, and asking how they can accelerate positive change in a way that fits within their core business agenda. That’s a huge shift in tone from even a year ago. The short-term economic outlook is […]

If you can read this headline, you can read a novel.

Judith SeaboyerSenior Lecturer, The University of Queensland Public anxiety about the capacity of digital-age children and young adults to read anything longer than a screen grab has come to feel like moral panic. But there is plenty of evidence to suggest we must take such unease seriously. In 2016, the US National Endowment for the Arts reported the proportion of American adults who read at least one novel in 2015 had dropped to 43.1% from 56.9% in 1982. In 2018, a US academic reported that in 1980, 60% of 18-year-old school students read a book, newspaper or magazine every day that wasn’t assigned for school. By 2016, the number had plummeted to 16%. Those same 12th graders reported spending “six hours a day texting, on social media and online”. American literacy expert and neuroscientist Maryanne Wolf describes the threat screen reading poses to our capacity for “the slower cognitive processes such as critical thinking, personal reflection, imagination, and empathy that are all part of deep reading”. She asks: Will the mix of continuously stimulating distractions of children’s attention and immediate access to multiple sources of information give young readers less incentive either to build their own storehouses of knowledge or to think critically for themselves? But rather than taking up defensive positions on either side of the digital-analogue reading divide, Wolf encourages us to embrace both. As parents and teachers we can help our children develop a bi-literate reading brain. There are several ways we can do this. Reading pathways Reading is a learned skill that requires the development of particular neural networks. And different reading platforms encourage the development of different aspects of those networks. Screen-reading children, immersed from toddlerhood in the pleasures and instant gratification of skimming, clicking and linking, develop cognitive skills that make them adept power browsers, good at the useful ability to scan […]

Iran vows revenge for Soleimani’s killing

Shahram AkbarzadehProfessor of Middle East & Central Asian Politics, Deputy Director (International), Alfred Deakin Research Institute for Citizenship and Globalisation, Deakin University US President Donald Trump has not held back on threatening Iran after the targeted killing of General Qassem Soleimani, a veteran of the Iran-Iraq war in the 1980s and a key player in expanding Iran’s links with armed groups across Iraq, Syria and Lebanon. In addition to extreme sanctions, Trump’s latest threat includes hitting 52 military and cultural targets in Iran. As might be expected, the Iranian leadership has doubled down on its anti-US rhetoric and promises of retribution. Soleimani was too important to the regime to let this slide. As the commander of the Quds Force in the Islamic Revolutionary Guards Corps (IRGC), Soleimani was in direct contact with Hezbollah in Lebanon. He mobilised the militant group to defend Syrian leader Bashar al-Assad against US-backed rebels and armed Islamist groups. Soleimani also visited Moscow in 2016 to make a case for, and coordinate, Russia’s military involvement in Syria. Soleimani made frequent trips to Iraq to bolster the Kurdish and later the Shia militia push-backs against the Islamic State. The recapture of Mosul from the Islamic State in 2016 by the US-backed Iraqi army and the Shia Popular Mobilization Units (PMU) was greeted in Iran with joy. Soleimani was celebrated as a national hero. The Iranian regime praised him for serving the national security doctrine of offensive defence: defeating ISIS beyond Iran’s borders. Direct military confrontation is unlikely It makes sense, then, that the Iranian regime feels compelled to respond to Soleimani’s assassination. Iran cannot afford to let its national hero be slain without retribution. When Soleimani’s daughter asked President Hassan Rouhani, “Who will avenge my father’s blood?”, his response was swift: “We will all take revenge”. But what can Iran do? The […]

This is how climate science went mainstream

Environmentalism has become mainstream. Recycling is now a $200 billion global industry. Sustainability has become a significant focus for global corporations. And governments have been introducing major programmes to cut carbon emissions. It wasn’t always this way. In the 1960s, worrying about our impact on the Earth was perceived as a niche pursuit. So how did we get to where we are today? Here’s a timeline of some key developments. 1962 – Silent Spring The book that is widely seen as having launched the modern environmental movement was written by an American ecologist, Rachel Carson. Silent Spring took aim at the use of pesticides and the damage they were causing to biodiversity. Carson called for environmental stewardship and a more considered approach to human intervention in the natural world. 1971 – Greenpeace Inspired by Rachel Carson, a group of activists from Vancouver, Canada set sail for Amchitka – an island off the coast of Alaska that was home to bald eagles, peregrine falcons, and 3,000 endangered sea otters – in an old fishing boat called The Greenpeace to try to stop an American nuclear weapons test. The activists feared the underground explosion would trigger earthquakes and tsunamis. The ship was forced to turn back, but the mission captured the public imagination. Greenpeace is now an international organization with offices in 40 countries and its own research laboratories. It is still involved in direct action, but also lobbies governments for policy changes and conducts investigations into “environmental crimes”. 1989 – Margaret Thatcher Known as “The Iron Lady” for the certainty she had about her political views, the former UK Prime Minister also raised awareness about climate change in a series of domestic and international speeches. In November 1989, she told the UN General Assembly: “The environmental challenge that confronts the whole world demands an equivalent response from the whole world. Every country […]

The countries where it’s best to be a woman

Norway and Switzerland are the best countries to be a woman and Yemen and Afghanistan the worst, said research on Tuesday which found the state of women’s rights is not “all doom and gloom” around the world. While life for women has improved in some 60 countries, it has deteriorated in Yemen and other war-torn nations, research organizations Georgetown University’s Institute for Women, Peace and Security and Peace Research Institute Oslo concluded. The researchers looked at 167 countries since 2017 when the first Women, Peace and Security Index was compiled, weighing variables such as access to bank accounts, jobs and security. Rounding out the top of the list were Finland, Denmark, Iceland, Austria, United Kingdom, Luxembourg, Sweden and Netherlands tied for ninth place, followed by Canada. At the bottom were Yemen, Afghanistan, Syria, Pakistan, South Sudan, Iraq, Democratic Republic of the Congo, Central African Republic, Mali and Libya. “There are important areas of progress. It’s not all doom and gloom,” said Jeni Klugman, managing director of the Georgetown Institute and lead author of the index. Gains were strongest in women’s access to financial accounts, either mobile or at conventional banks, in fewer discriminatory laws and through increasing legislative representation. “A national election can bring about big changes, both positive and negative,” Klugman told the Thomson Reuters Foundation. “We have a number of countries which boosted the share of women in their national legislatures. We also had several countries which went the other way,” she added. Iceland lost its top spot from 2017 after elections brought a drop in the number of women in parliament. The United States inched up to No. 19 from No. 22 two years ago, in part due to 2018 elections when a record number of women were elected to Congress. But Klugman said the United States […]

As Turkish troops move in to Syria, the risks are great – including for Turkey itself

Turkey did not waste much time in launching an attack on Syrian soil just days after US President Donald Trump announced he would withdraw US forces from northern Syria. As this development opens a new chapter in Syria, Turkey maybe unwittingly sinking deeper into that country’s civil war. This is not the first time president Trump has mentioned withdrawal from Syria – he voiced it in April 2018. Alleged gas attacks by the Syrian President Bashar al-Assad’s incumbent government followed, which resulted in the US continuing its stay in Syria despite its reluctant president. The US government has always been tentative with its Syrian policy, which was openly exploited by Russia in its bid to support the Assad government’s grip on power in the embattled country. It is also not the first time Turkey has talked about a military presence in Syria. In January 2018, it sent troops to north-western Syria, establishing its control over lands to the west of the Euphrates river. Turkey has increased its military build up on the Syrian border ever since. The US contained any further Turkish advances by making it clear Turkey was not welcome to the east of the river, especially when the US needed the support of Kurdish forces in ending Islamic States’s presence in Syria. Why does Turkey want to increase its military presence in Syria? There are three main reasons Turkish President Recep Tayyip Erdogan is eager to send more troops in to northern Syria east of the Euphrates river. The first is the prospect of free Kurdish states near its borders inspiring the sizeable Kurdish populations in the south east of Turkey to seek similar aspirations. Northern Iraq is slowly moving towards independence. If Kurds in northern Syria were to establish an autonomous region, it would only be a matter of time before the same demands were raised in Turkey. […]

Blowout: Big Oil and Gas Versus Democracy—Winner Take All

by Rachel Maddow Rachel Maddow’s Blowout offers a dark, serpentine, riveting tour of the unimaginably lucrative and corrupt oil-and-gas industry. With her trademark black humour, Maddow takes us on a switchback journey around the globe—from Oklahoma City to Siberia to Equatorial Guinea—exposing the greed and incompetence of Big Oil and Gas. She shows how Russia’s rich reserves of crude have, paradoxically, stunted its growth, forcing Putin to maintain his power by spreading Russia’s rot into its rivals, its neighbors, the United States, and the West’s most important alliances. Chevron, BP, and a host of other industry players get their star turn, but ExxonMobil and the deceptively well-behaved Rex Tillerson emerge as two of the past century’s most consequential corporate villains. The oil-and-gas industry has weakened democracies in developed and developing countries, fouled oceans and rivers, and propped up authoritarian thieves and killers. But being outraged at it is, according to Maddow, “like being indignant when a lion takes down and eats a gazelle. You can’t really blame the lion. It’s in her nature.” This book is a clarion call to contain the lion: to stop subsidising the wealthiest industry on earth, to fight for transparency, and to check the influence of predatory oil executives and their enablers. The stakes have never been higher. As Maddow writes, “Democracy either wins this one or disappears.”

Greta: the voice of climate activism who says ‘don’t listen to me’

She’s the voice of a global movement who mobilised millions of young people to demand action against climate change. Yet Greta Thunberg’s message to the US Congress – a hotbed of climate scepticism – was: “I don’t want you to listen to me. Little more than a year ago, we hadn’t heard of Thunberg. That changed after August 2018 when she held her first skolstrejk för klimatet, a ‘school strike for climate’, ducking out of class to protest outside Sweden’s parliament. “I want you to listen to the scientists.” Before long others joined her school strikes and, within a matter of months, a global movement was born. By March 2019, more than 2 million students across 135 countries were holding school strike demonstrations. Thunberg has come a long way in a year, both literally and figuratively. Just weeks after her 16th birthday she attended the World Economic Forum’s Annual Meeting in Davos, where she famously urged world leaders to “panic” at the seriousness of the situation. “I don’t want your hope,” she told the audience. “I want you to panic. I want you to feel the fear I do. Every day. And want you to act. I want you to behave like our house is on fire. Because it is.” In March Thunberg was nominated for a Nobel Peace Prize. Time magazine named her one of the world’s most influential people ans put her on its cover. She has addressed the European Parliament, the French National Assembly, the UK’s House of Commons, and met with Pope Francis. Now she is addressing the United Nations Climate Summit, a meeting she travelled to by carbon-neutral yacht. “It is insane that a 16-year-old would have to cross the Atlantic to take a stand,” she told reporters on arrival at the harbour. “The climate and ecological crisis is the […]

Lessons from China on how to drive sustainable growth

The Chinese dream will see us break the link between growing incomes, rising production and degradation of the environment. Our businesses should continue to grow even as our cities, farmland and entire ecosystems become greener and more sustainable. Long-term wealth creation should go hand-in-hand with sustainability. Earlier this year, Lyu Jun, Chairman of COFCO Corporation, described how the commercial case for sustainable production is lagging behind the moral one. Since his article was published as part of the World Economic Forum 2019 Annual Meeting, we have been actively demonstrating the commercial value of sustainability. In July, my company partnered with a consortium of 21 banks to engineer a $2.3 billion loan. Under the terms of this loan, we pay a lower interest rate if we can meet a series of annual targets on sustainability. Any interest saved will be re-invested into initiatives that increase our sustainability performance even further. Sustainability earns us money. This loan demonstrates some of the keys to sustainable growth. Here are five of them: Finance is emerging as a major driver of sustainability. Government policy and consumer preferences can certainly shift corporate behaviour, as tariffs on soy have shown. And most consumer-facing businesses are adapting to their customers’ preferences for more sustainability. But I see a more interesting role for the banks, whose influence is immense. The financial sector is shifting quickly towards sustainability as the links to reduced risk and better financial performance become clear. In the first half of this year, the issuance of sustainability-linked loans leapt 63% to $44 billion, as much as in all of 2018. Money talks. Innovation will be part of any solution While the public sector has limited funding resources, private investment and capability could play an instrumental role in achieving sustainable agricultural development goals. But current levels are not enough to […]

How China’s propaganda machine tried to control the message in the Hong Kong protests

China is known for the strict control it exercises on information, especially online. Discussion of events that might reflect unfavourably on the government is often censored, or framed in such a way that it becomes pro-government propaganda. That’s why so many Chinese citizens remain unaware of, for example, the 1989 Tiananmen Square massacre. Online discussion of the recent protests in Hong Kong against a now-suspended extradition bill was no different. But this was also a rare occasion when China’s news propaganda machine was mobilised to simultaneously target several audiences both inside and outside China. China’s propaganda network is made up of a constellation of domesticand international news outlets. They span social media, mobile apps, websites and traditional media. The news is tailored to particular audiences according to different agendas. Everything, however, comes under the direction of the Central Publicity (formerly translated as “Propaganda”) Department of the Chinese Communist Party. This is an amazing time lapse of the hundreds of thousands of protesters in Hong Kong. Over the past few weeks, we’ve seen the China extradition bill elevated from a local Hong Kong controversy to a story of international concern following the protesters’ lobbying campaign targeted at the G20 summit. As events escalated from peaceful rallies focused on a single issue to at times violent confrontations seeking a range of demands, including the resignation of Hong Kong Chief Executive Carrie Lam, the agendas of several spheres of China’s propaganda converged. The first day protesters took to the streets was March 31. That was two days after the extradition bill was published in the Gazette, the official publication of the Hong Kong government. The same day, two Chinese-language newspapers that have long acted as de-facto official media of the Chinese government in Hong Kong (but not openly declared as such) swung into action. Wen Wei Po and Ta Kung Pao both used either the entire or the majority of the second […]

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