The World Economic Forum (WEF) was established 30 years ago to bring together business, political and academic leaders from around the world. The WEF's purposes are to identify new economic, political, social and cultural trends and to shape strategies and actions for corporations and countries to integrate these changes and maximize their potentials. Most recently, however, the WEF has become synonymous with globalization.

This year's theme concerned the issue of establishing a clear and targeted framework to deal with risk and ensure progress toward global prosperity and security". The specific sessions included: Ensuring Global Security, Promoting Global Growth, Managing New Risks, Building Corporate Resilience, Spurring Innovation, Harnessing the Diversity of Values, and Reducing Inequity.

The outcome of this year's meeting included a "CEO Statement on Corporate Citizenship", recommending a framework for action that can use to develop a strategy for managing a company's impact on society and its relationships with stakeholders. The corporate leaders stated: "For the first time in history most of the world's population live in democratic societies and market-based economies, with the potential for increased political participation and economic prosperity. There are widespread concerns, however, that this potential is not being met; that many people are still facing high levels of inequality, insecurity and uncertainty, as well as new sources of conflict, environmental decline and lack of opportunity.

World events since September 11th have reinforced the inconnected nature of these global challenges and the inter-dependence of nations and their citizens. Leaders from all countries, sectors and levels of society need to work together to address these challenges by supporting sustainable human development and ensuring that the benefits of globalization are shared more widely. It is in the interests of business that these benefits continue both for companies and for others in society."

The statement concludes: "Having said this, business cannot afford to ignore the wider social, economic and environmental impacts of its activities, both positive and negative. Nor can it ignore the wider challenges faced by governments in terms of investing in human development, infrastructure and institutions, both national and international, that help to create a sound enabling environment and healthy societies. By supporting governments, inter-governmental organizations and civil society in creating such an enabling environment and building such societies, business will prosper over the longer term."

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