Greater social mobility can boost growth and reduce the gap between poor and rich globally.
According to the 2020 Global Risks Report which was published as economic news by the world economic forum, ecosystem collapse and biodiversity loss are considered to be a concern that can be considered amongst the top 5 threat which humanity will be facing in the coming ten years.
This research has proved that almost more than half of the total GDP of the world I.e. 44 trillion dollars worth economic value is generated in a way that is highly or moderately dependent on nature directly or indirectly. As the natural resources are depleting and becoming extinct there is a huge impact on supply chains, operations and markets thereby leading to economic issues and recession globally.
To address the issue of this economic news, a conference named Davos is being held. Although the main theme of Davos is a climate crisis, many political and business leaders are doubting that the World Economic Forum is turning into the World Climate Forum.
Greta Thunberg, who is a climate activist and will be attending Davos again this year wrote that she demands that all institutions and governments should stop all investments involved in fossil fuel extraction and exploration on an immediate basis. Also, diversification from fossil fuels as an energy resource should be found. Even all fossil fuel subsidies should be ended on an immediate basis. This need not be done till 2050 or 2030 or not even till 2021, these changes should be undertaken globally on an urgent basis.
Now is the time when nations should end their race for-profit and business and focus on protecting natural resources else in future there will be no natural resources left to be exploited for their economic growth.