The World Economic Forum event known as “Davos,” in the snowy town in Switzerland where it takes place is known for the world’s most influential people meeting, but next year’s iteration of the annual forum will be different: it will have a virtual part so anyone can have access to the Davos talks and “attend”.

KEY FACTS

The 2021 Davos meeting will be more inclusive through what the Forum calls “twin summits,” with the accustomed in-person meeting at a snow resort to be complemented by a virtual online session.

The WEF will adjust a virtual network of 420 hubs scattered throughout the world with a purpose to engage youth, according to a Wednesday statement.

It’s still not clear which events will go public and if any will be closed, but anyway, there will be an open house policy allowing anyone interested to take part in conversations and share their experiences and input with other participants.

As you probably know, the theme of the WEF 2021 will be “The Great Reset” and the brains of the world will be sharing and trying to fix social inequalities with help of capitalism. This theme is chosen due to the coronavirus pandemic, world protests in Minneapolis, climate change and apparently the brought up topic of humans’ rights and fascism considering recent events in the East European country Belarus.

According to the statement of August 12, 2020, Davos 2021 gathering tends to be intensively focused on the consequences of climate change—in January activist teenager Greta Thunberg attended Davos and gave a speech. The WEF also named the global health crisis created by the Covid-19 or Coronavirus and “the evils of racism and discrimination,” as issues to be discussed.

CRUCIAL QUOTE

“The global health crisis has laid bare the unsustainability of our old system in terms of social cohesion, the lack of equal opportunities and inclusiveness,” said WEF founder and chairman Klaus Schwab in a statement Wednesday. “The world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a ‘Great Reset’ of capitalism.”

KEY BACKGROUND

The WEF brings together thousands of the world’s most powerful people, like billionaires, celebrities, economists and world leaders, to discuss global issues over roughly a week each January. According to The Telegraph, 119 billionaires attended the talks at Davos this year. The meeting has been held for more than 50 years.