DAVOS, Switzerland (AP) — The world is in a “sorry state" because of myriad “interlinked” challenges including climate change and Russia's war in Ukraine that are “piling up like cars in a chain reaction crash,” the U.N. chief said at the World Economic Forum's meeting Wednesday.
U.N. Secretary-General Antonio Guterres delivered his gloomy message on the second day of the elite gathering of world leaders and corporate executives in the Swiss ski resort of Davos. Sessions took a grim turn when news broke of a helicopter crash in Ukraine that killed 18 people, including Ukraine’s interior minister and other officials.
Forum President Borge Brende requested 15 seconds of silence and Ukrainian first lady Olena Zelenska dabbed teary eyes, calling it “another very sad day,” then telling attendees that “we can also change this negative situation for the better."
Ukrainian President Volodymyr Zelenskyy was scheduled to address the conclave by video link as the Ukrainian delegation that includes his wife pushes for more aid, including weapons, from international allies to fight Russia. Speaking shortly before Zelenskyy is German Chancellor Olaf Scholz, who is facing pressure to send tanks to help Ukraine and is the only leader to attend Davos from the Group of 7 biggest economies.
Guterres said the widest levels of geopolitical division and mistrust in generations are undermining efforts to tackle global problems, which also include widening inequality, a cost-of-living crisis sparked by soaring inflation and an energy crunch, lingering effects of the COVID-19 pandemic, supply-chain disruptions and more.
He singled out climate change as an “existential challenge,” and said a global commitment to limit the Earth's temperature rise to 1.5 degrees Celsius “is nearly going up in smoke.”
Guterres, who has been one of the most outspoken world figures on climate change, referenced a recent study that found scientists at Exxon Mobil made remarkably accurate predictions about the effects of climate change as far back as the 1970s, even as the company publicly doubted that warming was real.
“We learned last week that certain fossil fuel producers were fully aware in the 1970s that their core product was baking our planet," he said in his speech. “Some in Big Oil peddled the big lie.”
Critics have questioned the impact of the four-day meeting where politicians, CEOs and other leaders discuss the world’s problems — and make deals on the sidelines — but where concrete action is harder to measure. Environmentalists, for example, slam the carbon-spewing private jets that ferry in bigwigs to an event that prioritizes the battle against climate change.
On the second day, government officials, corporate titans, academics and activists were attending dozens of panel sessions on topics covering the metaverse, environmental greenwashing and artificial intelligence.
The crash added more tragedy after a Russian missile strike hit an apartment building over the weekend in the southeastern Ukrainian city of Dnipro, killing dozens of people in one of the deadliest single attacks in months.
But Ukraine is gaining additional international support: Dutch Prime Minister Mark Rutte said Tuesday that the Netherlands plans to “join” the U.S. and Germany’s efforts to train and arm Ukraine with advanced Patriot defense systems.
The German government has faced mounting pressure to make another significant step forward in military aid to Ukraine by agreeing to deliver Leopard 2 battle tanks. U.S. Defense Secretary Lloyd Austin is scheduled to visit Berlin this week and then host a meeting of allies at Ramstein Air Base in western Germany.
As gas prices surge amid the Russian invasion of Ukraine, other nations could potentially transition faster to using clean energy than previously expected. Philip K. Verleger, a senior fellow at the Niskanen Center, joined Cheddar News to explain how this could be a possibility in the near future. "Part of the reason I think we have this invasion and the tantrum that's being thrown by Russia, terrible tantrum, is because the Russians were trying to slow down the transition," he said. "Ironically they speeded it up."
Following the invasion of Ukraine, a multitude of Western companies have paused doing business with Russia. PepsiCo, Coca-Cola, McDonald's, and Starbucks are the most recent companies to temporarily cease operations in Russia. Dean of Miami Herbert Business School at the University of Miami, John Quelch, joined Cheddar News to discuss what message this sends to Russia and the Russian consumer. “I would not underestimate the collective strength of all of these multinational companies, essentially coming together to make their collective statement in support of the political statements that have come out of Washington," he said.
The war in Ukraine continues to reveal heartbreaking gut-wrenching stories. The war in itself is not only devastating but also expensive. Experts estimate that Russia is draining nearly $20 million dollars each day to continue occupying and invading Ukraine. All this could force the country to turn to cryptocurrencies. It's a major turn for the country that briefly considered outlined digital assets entirely, but it could also have serious implications for cryptos. Managing Director at Quantum Fintech Group, Harry Yeh, joined Cheddar to discuss more.
President Biden announced a ban on Russian oil and natural gas imports to the U.S. in response to its invasion of Ukraine, a move he warned could lead to an even greater surge in gas prices. The ban is prompting a conversation about the current oil production levels in the U.S. and whether or not the industry can ramp up production to soften the blow to American families at the gas pump. Clark Williams-Derry, Energy Finance Analyst with the Institute for Energy Economics and Financial Analysis, breaks down the state of the U.S. oil industry and how the ban might impact production levels here at home.
PepsiCo, Coca-Cola, McDonald’s, and Starbucks are the latest American food brands to have halted business operations in Russia after having faced scrutiny and criticism for originally failing to do so amid the country's invasion of Ukraine.
As Russia intensifies its war on Ukraine, President Biden announced a ban on oil imported from the aggressor nation. Critics of Russia have said this would be the best way to force Putin to pull back, but curbs on Russian oil exports are expected to send already skyrocketing oil and gas prices even higher, further impacting consumers, businesses, financial markets, and the global economy. Leslie Beyer, CEO of the Energy Workforce and Technology Council, joined Cheddar News' Closing Bell to discuss. "It's certainly going to increase pricing, but it is the right thing to do," she said. "The industry itself has already pulled out of the significant portion of its operations in Russia."
Sports Betting in the U.S. is booming. According to industry experts, we could see another boom this year as more states move towards statewide legalization of sports wagering. While this comes as huge news for fans, there are some very real concerns as to whether or not sports betting potentially poses a threat to public health. Senior Clinician at the Caron Treatment Centers, Eric Webber, joined Cheddar to discuss more.
The Biden administration has made gender policy a core part of how it governs. The president established the first Gender Policy Council. It's on the same level as the National Security Council, Domestic Policy Council and National Economic Council, putting the interests of women and other underserved groups at the table for the most important policy discussions.
Cheddar News sat down with Jennifer Klein, executive director and co-chair of the White House Gender Policy Council, to discuss the council's work and its significance during Women's History Month.
State Representative Jessica González, Vice Chair of the Texas House LGBTQ Caucus, joins Cheddar News to discuss the latest Texas anti-transgender directive.
