WEF special meeting eyes collaboration on sustainable development

Amidst geopolitical tensions and economic challenges, the World Economic Forum (WEF) Special Meeting on Global Collaboration, Growth and Energy for Development has convened in Riyadh, Saudi Arabia on Sunday.

With a focus on addressing overarching global challenges, 1,000 global leaders from around the world have gathered to engage in dialogues aimed at finding solutions to the interconnected challenges, according to Borge Brende, president of WEF.

"The Middle East is at the heart of shaping security, energy, and development paths forward," Brende said, "It is only by coming together we can chart a course toward a more secure, stable, and sustainable future."

This meeting marks the first time it's being held in Saudi Arabia. At the opening sessions, leaders stressed the importance of inclusive growth.

Faisal Alibrahim, minister of economy and planning of Saudi Arabia, highlighted that people should be at the heart of inclusive growth. "Inclusive growth is not just a lofty ideal, it is a categorical imperative," he said, "This means investing in people, in their skills, in their education, and in their well-being."

The minister of the oil-rich country underscored the pivotal role of energy in sustainable development. "Energy is the lifeblood of our economies, but it must be produced, supplied, and consumed responsibly." He emphasized. Advocating for investment in clean and renewable energy solutions, he called for concerted efforts to address the energy trilemma of security, equity, and sustainability.

The special meeting, held on Sunday and Monday, centers around three primary themes: a commitment to fostering inclusive growth, catalyzing initiatives for energy development, and reinvigorating global cooperation. Over half of the participants are from the Global South and emerging markets.