 All right. Thank you, everyone. Please take a seat. Good morning, everyone. Thank you for being here with us this time at the COSHA Opening Press Conference. My name is Phon Matarot, head of the media at the World Economic Forum. I'm very honored to be the person to introduce you to our seven outstanding COSHAs here. We will start in this order, in terms of the speaking order as well. So, we have the Prime Minister of Norway, Erna Soberg, Shetna Sinha, Founder and Chair, Mandership Foundation from India, Jeannie Rometti, Chairman, President and CEO of IBM Corporation, Christian Lagarde, Managing Director, IMF, Isabel Korsche, CEO and Chief Group, France, Fabiola Genotti, Director General CERN, or European Organization for Nuclear Research, I think. Sharon Burrow, General Secretary, International Trade Union, Confederation, ITUC, in Belgium. Thank you, everyone. We would start already with the Prime Minister. Shall we ask your hope and aspiration for the meeting? First, I'd like to thank for the opportunity to co-chair the whole conference. It's, of course, an honor. Also, it's an honor to co-chair with so great ladies as this, not just because they are ladies, but also because they are representing a cross-sector of our societies in the world, and all of the driving forces that we need to have behind our reach for the global goals. If I can highlight two areas where I would like to have a focus during these days of discussions, and I think it's vital for reaching the global goals, the STGs in the future, it's number one, corruption, illegal financial flows. I think that's one of the biggest challenges we have. If we are going to have a sustainable development in the world, we need to talk about, we need to focus on, and we need to work against all type of illegal flows of finance and of corruption. This is what fuels conflict, this fuels terrorism, this fuels security threats, but it also undermines the possibilities for national states around the world to, in fact, tax make it possible to achieve social goals for their societies. That's why I think a focus on corruption and illegal financial flows are one of the most important. At a week where business meets politicians and NGOs and decision makers of the world, I think we have to say that this is also what will undermine inclusive growth in a lot of countries if we can't combat it. There is a lot of money in this world that could go to development if we had been able to fund them into the organized channels. And in these days where we discuss MeToo on all levels, I think we would need a sort of a MeToo campaign on corruption and illegal flows because we think we need to see and show who is taking money, who is bribing others, and how can we make sure that this is unacceptable in all of our societies. Promoting peaceful, joint and inclusive societies is SDG 16. It's a key to achieve all of the other goals that we have. And I think it's important in context where society meets decision makers, where business meets decision makers to talk about this. If we want to do something about climate change, it's also important to do it. My second issue, of course, is gender equality, which I think is represented by this panel, but it's also, which is not very, well, it's very unequal, but it's, on the other hand, an important manifestation of women into a lot of very important parts of our societies. Still getting women into paid work simply means that we are using the entire pool of talent in our societies. The barriers to women's participation is still large in many societies. And denying women equal rights has no valid ground for the future. And it doesn't make sense economically or politically. So education is the first step. I work hard on making sure that we, through the focus on the SDGs, get education to all, both boys and girls, but especially make sure that girls are fulfilling 12 years of secondary education so that they have a basis to start their life on. And I think if you want to discuss inclusive societies, I think that Nova was pointed out as number one on the list of the Wafia last night, but I think if you want to start education, it's a starting point, because that's when you groom the talent of all young people. So that's my two-focus area. Thank you. Thank you very much, Prime Minister Shadna. You have something, what is your objective and goal for this meeting? Thanks. I'm honored to be a co-chair at World Economic Forum, and I'm proud to be a part of this accomplished group. I represent the voices of a fractured world, voices of the rural women in India, some of them really poor. And 20 years back, when many of our women wanted to do, wanted to plan their lives, wanted to open a saving account, banks were not ready to open their accounts. Why? Because they are not affordable client. And so our women said that we want a safe place to saving, safe and secure place. And that's the reason we started a Mandeshi Bank, a first rural women bank in India. And this bank provides saving, lending. We were the first bank to launch the pension fund for rural women. And when women got the banking, they said we want access to knowledge, we want access to finance. So we started the first business school for rural women. Imagine Indian women, rural women going to business school. And so our bank was also providing the doorstep banking. While working with women for nearly a half million women for last three decades, I want to share the lessons I've learned from them. The first lesson I learned is never provide poor solutions to poor people. Our women are running bank, our women are getting doorstep banking. They are running radio. So I again emphasize that I learnt was never provide poor solutions to poor people. Microfinance industry is big in India. It's a huge, it's a 20 billion dollar industry. Why this microfinance was successful? Because women took the loan, repaid in time and they proved that we are bankable. They proved that there is a business in that. But now our women are looking beyond power. They are just not looking only getting beyond out of a poverty, but they want to go towards prosperity. So from microfinance to microenterprise. And our women who have created established bank with no outside support, no external support are all set to set up, start an alternative investment fund. You have something to announce here. Yes, I'm so proud to announce with all in this prestigious panel that I am launching an alternative investment fund for our women entrepreneurs, which will be dedicated to our women. Entrepreneurs, it's 100 million dollar, 100 million rupees fund. But why am I launching in Davos? There are two reasons. One, Davos is the place where head of the states, business leaders, venture capitalists, impact investors and social entrepreneurs come. The second reason, Davos is all about passion. Davos is all about innovation. And our women, this is the most innovative fund in India. It's first, which is dedicated to our women entrepreneurs. And I would just like to urge you to see the business opportunity in our women. You know what they say? They say that we talk about finance and capital. Our women say that my courage is my capital. I would invite you all to join me in this fund, engage with our women, partner with our women, and invest in our women. They are amazing. Thank you very much. There you go. Thank you. Mrs. Rometti. Please. Thank you. And like the others, I'm quite honored to do this. And I must say quite humbled to sit next to a woman like Chetna with what she's accomplished there. So I think that's wonderful what you just announced. Wonderful. So what you asked us is our goal. And my goal out of this would be to have all companies adopt what I would call responsible stewardship for new technologies. And so let me frame that. I think the world's at an inflection point, be it for a company, an industry, for society around many of the new technologies. And on one hand, they are the opportunity to solve what I think are some of the most unsolvable problems in the world. We were just talking about in India itself, one oncologist for 1,400 patients, you've got to find a way to address all these issues. On the other hand, what the Prime Minister just mentioned, I think this could also be the issue of our time. And the issue meaning many people talk about, will there be jobs displaced? I don't think the number of jobs is the issue. The point is that 100% of all jobs will be impacted in some way. It will be man and machine working. And you can't create a world of have and have nots. And so when I talk about adopting a responsible stewardship, I would say and advocate three things. The first is that all of us usher in these new technologies with purpose and transparency. So just take artificial intelligence. Purpose meaning it is man and machine. It is make man better. It's augment man. And when you say transparency, we all have a right to know, well what train that? What data? What people? Before you're going to give me advice back. The second thing would be that we all really do live by a set of data principles. And those data principles would be around ownership, the free flow of data. They would be around privacy, around security. They would also be around government access in what can and cannot happen there. And then the third thing I'd advocate is that we really prepare the world's workers. As I said, 100% of all jobs will change. Our lives will change. So for our youth, that means not everyone will have a science degree or an advanced degree. And there are many ways to bring, we coined something called new collar to allow the youth with just a little education extra to participate in that workforce. It means retraining and for governments it will mean lifelong learning and a changing of how we look at education. And then of course all of this underpinned by inclusion. Because in the end, I believe we'll all be judged by society and they'll determine who they trust if we live by these kinds of all of these principles. Thank you very much. Mrs. Lacarte. Well thank you very much. And I'm also delighted to be in that group of prominent talented women. And my hope is that we can collectively demonstrate, as has already begun actually, that even without testosterone, we can actually produce positive, constructive energy to deliver solutions. That's my goal. And I think the two key objectives that we have, now that from an economic point of view we are in a sweet spot. That's where we are now. We can actually focus on shared responsibilities and shared opportunities. And what I mean by shared opportunities is first of all empower women and turn this anger that we have seen into action and that we have to do together, both men and women. And that ranges from what we have seen and that has agitated the media to very trivial issues that are critically important. Sanitation in some countries. Physical violence against women. Legal obstacles on their way to work and to finance. The second one which is key as well is to empower the young people. We will be launching tomorrow's study that actually compares the status of young people today relative to other people in their respective countries. And you will be surprised to see that even in those countries where there are no massive excessively and growing inequalities, within generation we have an issue that we really need to focus on and that goes through education and inclusion. Turning to my second one, which is the issue of shared responsibilities. Erna, I join the Me Too that you launch because the anti-corruption movement is something that is in our view critically important. It's a difficult issue, not one that we should tackle either lightly or quickly. We need to really focus on that but it's critically important. Those shared responsibilities applies to the areas of climate change, corruption, of excessive inequalities developing in many countries and on that front certainly the IMF with its 189 membership is going to try to also lead the charge and participate in those projects. Thank you. Thank you. Mrs. Koshia please. Good morning. I'm very honoured Me Too to participate in this inspiring panel. My goal is to contribute to something which is in my view absolutely necessary and urgent which is to accelerate the pace of change towards a more harmonious progress. As a business leader I witness every day the fact that there is a strong impatience. Really a stronger awareness that the current models of our society is unsustainable, is not inclusive, is even not inspiring. And I'm very impressed by the contradiction between the level of a viable money which is unprecedented and the fact that our growth is so slow. So not inspiring. And I feel a strong desire, a very shared desire to invent something different that would reconcile, reconcile economic growth, economic development and common good that the famous are the same time, the favourite words of our French president. Because people they refuse now to choose between the two. The second thing I'd like to witness is that over the last decade we experienced the emergence of a lot of new technologies that effectively are unanswered. As an energy player I can tell you that in the energy field it is spectacular. Renewable technology they are now on par with for science beating them in now a number of geographies and not only they are clean but they are agile, flexible, rapid to implement. And it means that they are also a way to accelerate access to energy which is a way to reduce gap of poverty between the regions of the world. And what I'm just saying is that the energy field but not the only one is typically a case where we can now focus our technologies, business models on solutions that not only limit the damages but repair, heal the fractures. So I lead a group that has decided to deliberately go to that direction. It's not an easy road at all. It requires a strong orchestration. It requires strong choices also. We dispose 20% of our activities to refocus, reinvest, redirect our resources to new business models that are effectively able to reconcile. And we started experiencing the fact that we increased our pace of growth and our value creation level. Now the bad news is that the pace of change is alarmingly low and then it's necessary to accelerate. And in my view one of the main issue is to massively direct flow of money towards harmonious progress. So my expectation is mainly this one for this week to identify the road blockers and to systematically deal with them. Thank you very much. Mr. Cianotti, please. Good morning. I'm also very pleased and honored to be part of such a distinguished panel of co-chairs and I'm also grateful to Klaus Schwab and his team for choosing a scientist among them. So surprise, surprise, my goal for this Davos forum is that people become increasingly aware of the role of science to address societal challenges. So I would like to anticipate and share with you a couple of thoughts that we will develop more in the discussion in the coming days and even today in our plenary panel. Science can play a key role in connecting people and creating a shared future in a fractured world because it is universal and unifying. Universal because it's based on objective facts and not on opinions. An example, simple example. An apple falls in the same way whether it falls in Isaac Newton's garden in the England of the 17th century or anywhere else on earth in any time of history. Unifying because the quest for knowledge and the passion for learning for understanding are shared values and aspiration of all humanity. Scientific knowledge has no passport, no gender, no race, no political party. And I would like to bring my own experience. I work at CERN, the European Laboratory for Particle Physics, where we run the most powerful accelerators on earth to understand the fundamental constituents of the universe. And CERN brings together 17,000 scientists from all over the world representing more than 100 nationalities. Some of them come from countries that are in conflict. And yet they all work together peacefully, animated by the same passion for knowledge in pursuit of common goals. Certainly places like CERN and other research institutions cannot directly solve geopolitical conflicts. But they can help break down barriers. They can help grow the young generation in a respectful and tolerant environment that values diversity. I think places like CERN and other research institutions can plant seeds of peace. Second, scientific knowledge is the fuel of progress because it pushes back the limit of what we know. And of course progress is fundamental for the future of society. Without innovative ideas and breakthroughs from scientific research, progress sooner or later stagnates. Another example, the light in this room is not just the results of the smooth evolution of the candle. It's not by building more colorful and bigger candles that you get this light. It requires a genuine jump and a qualitative jump in the knowledge. And history often shows that often major breakthroughs come from fundamental research. Think of quantum mechanics and relativity, two big discoveries of last centuries. When they were discovered, they were developed, they were considered useless knowledge. So abstract and so far away from any practical use. And yet without quantum mechanics, modern electronics, based on transistors, will not exist. And without relativity, our GPS will not work. So I cannot emphasize more the importance of fundamental research and applied research, scientific research in general, for the progress of humanity and the need for strong financial support by the governments. Thank you very much. Sharon? Well thank you and I applaud Klaus Schwab for his courage to send a strong message with an all women panel and I'm delighted to bring the voice of labor to that. I have a simple message. The world needs to negotiate a new social contract. We need to change the rules. Eighty-five percent of the world's people in our global polling tell us they want the rules of the economy, the global economy rewritten. Why? Because they're the people dealing with the historic inequality, the global wages slump, the massive unemployment, the deep anxiety about jobs for themselves and for their children. And indeed of course it's women and women workers who face the consequences of misogyny, of sexual harassment, of incredible levels of violence against women in our societies and in our workplaces. And climate devastation, again it's working people who are on the front lines of both the loss of lives and livelihoods as seasons change or you have massive events. We know that if we're going to heal today's world of work and that's what the economy is based on, sadly as much as the CEOs are important and the investors are important, without working people you simply wouldn't have an economy. And it's today's working people who are actually a part and parcel of a global workforce in trouble. We need to heal the global workforce of today if we're going to deal then on a strong foundation with Industry 4.0 and the promise and the threats of technology and of course of climate imperative for industry transition. We need just transitions in those fields so you have to get the fundamentals right and it does require a new social model, a new economic model where we take the strength of today that works for everybody and we rid ourselves of the greed that's dominated the worst of it. I would say on technology we want to see four things. We want to see human deployment of technology, absolute remaining control of human deployment of technology, human control of data commons, human mediation and we want to see human rights and labour rights. This is the 70th year, the anniversary of the UN Declaration of Human Rights. If people and humanity mean anything we need these deployed in to the social contract that will see us build a secure future. I would simply say that I think Klaus and the WEF have it right. If we are not prepared to stand up and negotiate collective solutions, cooperative solutions together to build the future then we will reap more of the same. Human beings bought us this fractured world. We built this fractured world. We can now say we need to learn some lessons and rebuild on the basis of a common humanity, a common solidarity where the economy does really serve people and our planet. Of course to creating a child future. So we will take a few questions. We don't have too much time so I can see. Can we go with the ladies first? Good morning ma'am. My question is with Madam Lagarde. Can you also say your name and your organisation? Vasundra from All India Radio, Country's Public Service Radio Broadcaster. My question is that IMF have termed India's Indian economy as the fastest growing one. So according to you, what is the reason behind the changing perceptions about the Indian economy? And question number two, Prime Minister Narendra Modi is going to deliver a speech in a short while from now. So what is your expectation from this speech? Thank you. So forecast growth for India is 7.4% coming. It is indeed of the largest, all largest economies, the fastest growing in the world at the moment. We certainly hope that the development, continued implementation of reforms in India, the focus on the financial sector, the implementation of massive changes that are taking place in India will continue to be supported and become sustainable. I personally hope very much that there will be a focus on the inclusion of Indian women in the economy. We have published research that shows that if Indian women were participating at the same level as Indian men in the economy, which of course is a bit of a myth, but it's the way you calculate those things, that Indian economy would increase by 27%. So that is clearly something that needs to happen. The level of discrimination, the roadblocks that Indian women in particular face in the rural areas are phenomenal. And I applaud Shetna for actually being very active on that front. Ladies and gentlemen, I would just tell you that Mrs. Lagar has mentioned that the panel of coaches is testosterone less. What will be your message to Mr. testosterone who is coming to divorce Mr. Trump? Who would like to take that? Well, my most important message to the American president is that we need a United States that's in the international arena. That works on our mutual work towards the global goals, about economic development, about climate change, about gender equality, about education. The 193 leaders of 193 countries have underlined the 17 global goals, and we need to see a United States that aligns with this and works hard because we only have 12 years left and we have some really far-reaching targets to reach. Anyone would like to add to that? I just would say that let's hope that Donald Trump's not simply a distraction from the challenge of negotiated global solutions because if you actually retreat and you are creating more risks than actually solutions with your leadership, then that's a problem for all of us. Erika Bierström, Swedish television. Two quick questions. First, Madame Lagarde. You said that there's a sweet spot that we're living in right now, but it also seems this is a time of paradox. The economy is strong, yes, but the democracies are receding, even stagnating, and I'm wondering in what way does this worry you. And also, Madame Kochere, being one of the most influential businesswomen of the world, you know that free trade is under attack. What is your best argument how free trade actually can help development and the issues that you've been addressing? Thank you. So you're right that the economy is currently in a sweet spot. With 3.9% forecast growth for 2018 and 2019 and a very well-scattered around-the-world growth, it's something that we have not seen in the last 10 years or so. What we are saying is it's when the snow stops that you clear the roads and now is the time to actually take advantage of that sweet spot from an economic point of view to focus on the issues that are possibly undermining democracy, that are fueling populism. And we've talked about some of those, whether it's excessive inequalities, whether it's lack of training, whether it's the feeling of exclusion, those matters should be addressed, can be addressed, and the financial means are available and as Isabel was saying, need to be harnessed in the right direction in order to address those issues. We take the last two questions here and over there. Oh, sorry. Very rapidly, I'd just like to say again that everything that boosts innovation and that is to say ability to answer to worries for all of us, a big challenge which is to direct, even redirect business and action of all the stakeholders of society towards something which is inclusive, inspiring and sustainable is good and free trade is part of that. Joel Hills from ITV News in London, forgive me for bringing the focus back to President Trump, but he does lead the largest economy. One, here's a thing for you. I wonder, do you think that some of the comments that President Trump makes about women damages attempts to empower women? Chidna. In fact, I would say that when President Trump immediately after the elections started making some comments, that actually brought women together. That actually made them so clear that we are not going to listen to that. We are going to give some really positive indicators and that is the reason I think the first indicator is this, that at World Economic Forum, we have a seven women co-chair and when the questions are being asked, I feel other way around, I feel that people, those who don't believe in this, they will get nervous. Why should we get nervous about it? Thank you. We have one there and we will take the last one there. Yes, go ahead. I think it's a really rare picture we see here, so there's one question or two questions to Ms. Rometti. You are often here at the web and the participation of women at the web is raising, do you feel any change in behavior here of the leaders? That's question one and question two. I mean, there was the me too debate. Even here at the web or in the business world, concerning this me too. So similar observation here. So why don't I start with your ladder question. Look, I think, I've come from decades and decades of a company that has honored and set the gold standard for inclusion and to me what web represents and what inclusion represents under all of this is about having everyone bring their best or whatever it is they do. And that will give you the best company, the best country, the best society. And I think that particularly this year this is underpinned. In fact, the headline isn't inclusion itself. I think inclusion underpins everything we talk about and that's the better way to look at it. And inclusion is not just diversity of gender. It is diversity of the way you think of sexual orientation, of your ethnicity. It does not matter and in fact, it doesn't matter in that definition because inclusion is what will allow people to participate and to give their best ideas. And so it is the underpinning, not just the goal in and of itself. Look, I think, I mean too, there is obviously not tolerable in any situation in any country under any company in any way you look at that. And I think, I know, I live in a company in a country and certainly in my company as I run it, it never has been tolerated, never will be tolerated. But did you make some observation here kind of? I think she has answered that. Yeah, I think I just did. So because we're running out of time, our course chairs will be with us throughout the next three, four days. There will be a penalty session at 6 p.m. today. You can come join us again and thank you everyone for joining us today and enjoy. Thank you. Thank you.