In Brief: WEF revenue, staff numbers up: Founder

World Economic Forum (WEF) founder Klaus Schwab said he has no plans to abandon or alter the annual retreat.
World Economic Forum (WEF) founder Klaus Schwab said he has no plans to abandon or alter the annual retreat.PHOTO: MARK CHEONG

WEF revenue, staff numbers up: Founder

LONDON/NEW YORK • Business is booming for the World Economic Forum (WEF) and the organisation's founder Klaus Schwab, 78, said he has no plans to abandon or alter its annual retreat, now into its 47th edition.

Revenue is up 45 per cent in the past five years and staff numbers have grown by about a third. Employees earn an average of 135,000 Swiss francs (S$190,700), a figure which rises to 213,000 Swiss francs with the addition of benefits such as pensions and healthcare.

"Our salary structure is completely in line with others such as the Bretton Woods organisation, the World Bank or the International Monetary Fund," Mr Schwab said.

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Loss of trust in political, economic system: Study

DAVOS • Trust in governments, companies and the media plunged last year as ballots from the United States to Britain and the Philippines rocked political establishments and scandals hit businesses.

The majority of people now believe the economic and political system is failing them, according to the annual Edelman Trust Barometer released yesterday.

"There's a sense that the system is broken," said Mr Richard Edelman, head of the communications marketing firm that commissioned the research. "The most shocking statistic of this whole study is that half the people who are high-income, college-educated and well-informed also believe the system doesn't work." REUTERS


'$17 trillion returns' from sustainable investments

DAVOS • Investing to meet the world's sustainable development goals will create at least US$12 trillion (S$17 trillion) in returns by 2030, according to research by a group that includes Mr Paul Polman of Unilever and Mr Jack Ma of Alibaba Group Holding.

Spending of US$2.4 trillion a year will be needed to reach the United Nations' Sustainable Development Goals, according to a report yesterday by the Business and Sustainable Development Commission.

The commission is a group of businesses, civil society groups and labour organisations.

The opportunities are spread across four areas: sustainable solutions to global energy challenges, addressing housing needs and urban infrastructure challenges, sustainable solutions to eradicate hunger, curb food waste and improve yields for small-holder farmers, and new health solutions.

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A version of this article appeared in the print edition of The Straits Times on January 17, 2017, with the headline 'In Brief'. Print Edition | Subscribe