As the International Organization for Public-Private Cooperation, the World Economic Forum, acting as partner to the World Health Organization, has set up the COVID Action Platform, an online resource to connect the global business community and mobilise collective action.
“COVID-19 is causing health emergencies and economic disruptions that no single stakeholder can address,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. “Our best and only response to it should be to take concerted action.”
Only coordinated action by business, combined with global cooperation – at exceptional scale and speed – can potentially mitigate the risk and impact of the unprecedented crisis, the World Economic Forum says.
The platform, created following a conference call with more than 200 business leaders from around the globe, provides a forum where CEOs, board directors, leaders and COVID-19 corporate officers can offer their help and team up on specific projects, launch actions and keep each other informed of best practices. Members include and any company interested in joining is welcome.
The platform focuses on three priorities:
- Galvanising the global business community for collective action
- Protecting people’s livelihoods and facilitate business continuity
- Mobilising cooperation and business support for the COVID-19 response
Early projects include establishing the Pandemic Supply Chain Network to strengthen supply chains and ensure that essential health commodities are available, accessible, affordable and of good quality – including addressing the global shortage of face masks. The platform brings together companies involved in the manufacture and distribution of these products to help address the problem.
Other actions include supporting mechanisms for business donations to the public health response, the development and funding of a vaccine, tracking the economic impact of the virus, and pursuing collaboration to address the disruptions caused by the global pandemic.
Resources are available on the following topics: COVID-19 Impact on Trade, Finding a Vaccine, COVID-19 Impact on Financial Markets and the COVID-19 Workforce Impact.
The platform is intended to catalyse private-sector support for the global public health response to COVID-19, and to do so at the scale and speed required to protect lives and livelihoods. It aims to find ways to help end the global emergency as soon as possible. The spread of COVID-19 demands global cooperation among governments, international organisations and the business community.
Organisations can embed a special COVID-19 transformation map on their intranet or website, enabling employees or stakeholders one-click access to the latest strategic trends, research, analysis and data in areas including technology, science and innovation, and governance and ethics.
The WEF set up the platform at the request of the World Health Organisation, and it is the first initiative of its kind, operating globally. The forum has established a specialist team to support the platform’s work.
Organisations can register for the COVID Action Platform here.
Follow the World Economic Forum’s coverage of COVID-19 here.
Webinar: COVID-19 Pandemic – Board Priorities
Boards are being challenged with information that changes daily. Where should you be focusing and how can directors ensure effective leadership of their organisation’s operations, employee safety and financial sustainability?
COVID-19 Pandemic - Board Priorities: Watch the recording of this webinar to find out more.