Individual actions by stakeholders amid the dramatic spread of COVID-19 will not be sufficient to address the ongoing global pandemic effectively, says World Economic Forum (WEF), adding that only coordinated action by business, combined with global, multi-stakeholder cooperation can mitigate the risk and impact of this unprecedented global health emergency.
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In response to this emergency, the WEF, acting as a partner to the World Health Organization (WHO), has launched the COVID Action Platform.
and to do so at the scale and speed required to protect lives and livelihoods, aiming to find ways to help end the global emergency as soon as possible, said the Switzerland-headquartered non-profit organization.
The COVID Action Platform will focus on three priorities:
The COVID Action Platform is open to all global businesses and industry groups, as well as other stakeholders, including governments, that wish to team up with the private sector on their response. The platform will operate a network where CEOs, organizational leaders and designated COVID-19 corporate responders can offer their help and team up on specific projects, launch actions and keep each other informed of best practices.
“COVID-19 is causing health emergencies and economic disruptions that no single stakeholder can address,” said Klaus Schwab, Founder and Executive Chairman of the WEF. “Our best and only response to it should be to take concerted action. The COVID Action Platform is at the center of our mission and we draw upon all our members and partners, communities and capabilities to make it a success.” The Director-General of WHO, Tedros Adhanom Ghebreyesus, has also stressed the role of the private sector in this pandemic. “The private sector has an essential role to play in combating this public health crisis through their expertise, innovation, and resources. We call on companies and organizations around the world to make full use of this platform in support of the global public health response to COVID-19.” The COVID Action Platform was conceived after a WEF conference call with more than 200 corporate leaders from all over the world. It is supported by WHO and the Wellcome Trust and is the first initiative of its kind, operating globally. The Forum, which is celebrating its 50th birthday in 2020, has established a special team to support the platform’s work.
Working with the Pandemic Supply Chain Network, one of the projects which will initially be launched on the Platform aims to strengthen supply chains to ensure that COVID-19 essential health commodities are available, accessible, affordable and of good quality.
Other actions will include supporting mechanisms for business donations to the public health response and the development of available and accessible vaccines, diagnostics, treatments, and protective equipment, as well as tracking the economic impact of the virus while pursuing collaboration to address disruptions.
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