Learnings From the World Economic Forum’s Annual Report (2023-2024)
Every year, the World Economic Forum (WEF) publishes a report to share its activities and key developments. The Annual Report highlights the tangible advancements the WEF achieved throughout the year across various initiatives and shows how the organization remains significant.
The report reflecting on the 2023-2024 term was published on September 9th, 2024.
The report overviews the ten centers, priorities, and key achievements over the past year. It includes summaries of its initiatives, coalitions, flagship reports, and updates from the Forum’s core functions, including partner and stakeholder engagement, global programming, global communications, technology and digital innovation, and finance and operations.
Image: WEF
The WEF Annual Report 2023-2024
The WEF Annual Report 2023-2024 comprehensively reflects on the Forum’s pivotal role in addressing some of the most pressing global challenges of our time. This report serves as a strategic roadmap for fostering collaboration, innovation, and sustainable development in a world marked by rapid technological advancements, climate change, and geopolitical shifts.
The President’s Statement highlights the global challenges individuals and businesses endured last year:
“The past year saw some of the most complex geopolitical and geoeconomic developments in decades, making the World Economic Forum’s mission to build and strengthen multistakeholder partnerships more vital than ever. As wars unfortunately continued to be fought and superpower relations remained fraught, global competition and conflict escalated, degrading the security landscape and deepening stress points in the multilateral system. The recession of geopolitical cooperation came as urgency continues to grow for parties to work together in solving shared challenges. The last year was the hottest on record; economic growth, though in positive territory, is projected to be historically low, and the number of people impacted by violence has risen to record levels. At the same time, frontier technologies offer the possibility of enormous gains, but this potential needs to be unlocked responsibly.”
— Børge Brende, President of the Managing Board
The report’s aim is clear: to highlight the Forum’s progress in catalyzing global cooperation, spearheading digital transformation, and driving sustainability initiatives that align with the evolving needs of a complex, interconnected world. Throughout the year, WEF has reinforced its position as a thought leader and convener, bringing together public and private sectors, civil society, and international organizations to tackle global crises and harness opportunities for collective action.
The WEF Annual Report Overview
The 2023-2024 report is segmented into key thematic areas that reflect WEF’s priorities over the fiscal year. These areas include:
Digital Transformation and Innovation: An in-depth look at the Forum’s internal digital enhancements, including the integration of generative AI through tools like Forum GPT and advancements in the Global Collaboration Village, a virtual platform enabling international cooperation beyond physical boundaries.
Global Collaboration and Safety: Initiatives like the Global Coalition for Digital Safety are showcased, emphasizing the need for shared standards and best practices in online safety and governance. This highlights WEF’s ongoing focus on ensuring that the digital world remains safe, inclusive, and accessible.
Diversity, Equity, and Inclusion: The report outlines the Forum’s commitment to creating a diverse and inclusive workforce, setting benchmarks for gender and nationality representation while also ensuring pay equity across all levels of leadership.
Sustainability and Climate Action: A deep dive into WEF’s various sustainability initiatives, such as the Davos Baukultur Alliance and efforts to foster nature-positive cities, reinforces the Forum’s dedication to leading the global charge toward climate action and sustainability.
Partnerships for Global Impact: Highlighting the significant role of partnerships, WEF expanded its reach to nearly 900 strategic collaborations, tackling issues like digital inclusion, sustainable development, and climate adaptation through cross-sector efforts.
The report serves not only as a reflection on the progress made over the past year but also as a forward-looking document that charts the course for future engagements. Through its focus on innovation, inclusivity, sustainability, and collaboration, the World Economic Forum positions itself at the forefront of global leadership, ready to address the challenges and opportunities of the future.
Report’s Key Takeaways
Digital and Technological Leadership: The Forum continues to lead by example in deploying cutting-edge digital solutions, particularly in artificial intelligence, digital safety, and quantum technologies. This underscores the importance of responsible tech governance in shaping the future.
Global and Inclusive Workforce: WEF’s commitment to diversity, both in nationality and gender representation, highlights the importance of fostering inclusive environments in global organizations.
Sustainability as a Core Objective: Through partnerships and targeted initiatives like the Davos Baukultur Alliance, WEF remains dedicated to supporting sustainable practices and policies that address climate and environmental challenges.
Partnership-Driven Impact: The growing number of strategic partnerships signals a strong commitment to collaborative problem-solving across sectors, with significant attention on cross-border digital and environmental transformation cooperation.
Download the report via this link or check out the key findings.
