Annual Report 2003/2004
Partnering for security
and prosperity

Dialogue at the January 2004 World Economic Forum Annual Meeting:
participants Heba R. Ezzat, left, a Cairo University academic, and
Bernard Guetta, a French editor.
Foundation Board members
Klaus Schwab Executive Chairman of the
Foundation Board
William I. M. Turner Chairman and Chief
Executive Officer, Exsultate Inc, Canada;
Vice-Chairman of the Foundation Board
Josef Ackermann Spokesman of the Board and
Chairman of the Group Executive Committee,
Deutsche Bank AG, Germany; Vice-Chairman of
the Foundation Board
Kurt Alig Chairman, Arcadia Treuhand AG,
Switzerland; Secretary of the Foundation Board
Peter Brabeck-Letmathe Chief Executive
Officer, Nestlé SA, Switzerland
Lord Carey of Clifton Former Archbishop of
Canterbury, United Kingdom
Victor L. L. Chu Chairman and Chief Executive
Officer, First Eastern Investment Group,
Hong Kong SAR
Flavio Cotti Former President of Switzerland
Michael S. Dell Chairman and Chief Executive
Officer, Dell Computer Corporation, USA
Carly Fiorina Chairman and Chief Executive
Officer, HP, USA
Niall FitzGerald Chairman, Unilever Plc,
United Kingdom
Orit Gadiesh Chairman, Bain & Company, USA
Rajat Gupta Senior Director, McKinsey &
Company Inc, USA
Nobuyuki Idei Chairman and Chief Executive
Officer, Sony Corporation, Japan
Caio Koch-Weser Secretary of State of Finance,
Germany
Henry A. McKinnell Chairman and Chief
Executive Officer, Pfizer Inc, USA
Heinrich von Pierer President and Chief
Executive Officer, Siemens AG, Germany
H.M. Queen Rania of the Hashemite Kingdom
of Jordan
Peter Sutherland Chairman of Goldman Sachs
International; Chairman of British Petroleum
Company Plc, UK
Ernesto Zedillo Ponce de Leon Director, Yale
Center for the Study of Globalization; former
President of Mexico

The World Economic
Forum is the foremost
global community of
business, political,
intellectual and other
leaders of society
committed to improving
the state of the world
Contents
The Executive Chairman’s statement 2
Annual Meeting 4
The regional agenda 10
Global Institute for Partnership
and Governance 16
Centre for Strategic Insight 19
Our members and partners 21
Our communities and constituencies 23
Our people 26
Our organization 28
The Forum leadership 30
The Forum community 31
Sharing knowledge 32
www.weforum.org
Our financial results 34
Our mission and values 36
Pictured on the cover, clockwise from top left, are: Dick Cheney, Vice-President of the United States of America; Vladimir Putin,
President of the Russian Federation; Pervez Musharraf, President of Pakistan, and Aleksander Kwasniewski, President of Poland
1

The Executive Chairman’s statement
Partnering for
security and
prosperity
The year 2003/2004 provided a welcome breathing reform in the Arab world. As important were the
space for the global community. After two years relationships made and bridges built that will engender
overshadowed by September 11, war in Iraq and future action.
financial volatility, it was a period of relative calm,
marked by no all-consuming crisis and with signs of Our regional activity again showed the Forum as
economic recovery. relevant, timely and proactive as we met influential
leaders, in key places, at the right time. The European
This respite generated a more optimistic mood among Economic Summit was held in Warsaw on the eve of
European Union enlargement. The World Economic
global leaders. Ironically, it also provided the space to
Forum in Jordan positioned us in the Middle East as
reflect on the many complex risks that threaten us:
the international community focused on the
from terrorism and uncertainty in the Middle East to
reconstruction of Iraq and the stability of the wider
corporate fraud and emerging pandemics. Such
region. We held our Asia Strategic Insight Roundtable
global challenges can never be met alone, however
in Seoul one month after South Korean President Roh
strong a nation, industry or company. Their complexity
Moo-Hyun was reinstated following his earlier
and interdependence must be met by integrated and
impeachment, and we convened our Russia Meeting
interdisciplinary action – from business, government,
2003 in Moscow shortly before Duma and
religion and the wider community. To succeed, such
Presidential elections.
cooperation requires a robust international framework:
one that transcends barriers of politics, religion and
Throughout the year, the Forum provides the tools and
industry; that brings different organizations and
resources our members need to pursue activities to
individuals together in partnership, and has the
improve the state of the world. To deepen our value to
organizational capability to pursue pragmatic
members during the year we continued to develop our
solutions. Alone among international organizations, the
organization. Our new structure reflects and underlines
World Economic Forum provides this collaborative
the Forum’s unique dual offerings: providing value to
global framework.
both business and wider society. This is particularly
reflected in the twin pillars of the new organization: the
Our Annual Meeting 2004, which brought together
Centre for Strategic Insight and the Global Institute for
2,280 leaders from 94 countries, demonstrated
Partnership and Governance. The Centre devises
the value we provide. The theme Partnering for
dynamic, incisive and relevant content for our summits,
Security and Prosperity was aptly chosen as
including scenario building, based on an expert
participants emphasized the need for interdisciplinary
understanding of global business and emerging risks.
cooperation. The benefits of such partnerships were
The Global Institute promotes public-private
immediately apparent. The raft of practical initiatives
partnerships to help address major international
announced ranged from programmes to provide IT
challenges, from greenhouse gas emissions to IT
centres for poor communities to pledges to economic
2

Lee Kuan-Yew, then Senior Minister of Singapore, with Klaus
Schwab, at October’s East Asia Economic Summit in Singapore
Rigorous management, and the more positive
literacy. In doing so the Institute puts the non-business
economic climate, helped us to achieve a strong
community at the very heart of the Forum. Thus, it
financial performance. Despite a first half clouded by
could be said that the Centre provides the environment
the continuing repercussions of the SARS outbreak
for members to acquire and share knowledge and
and the tail end of the economic downturn, our
make the decisions and contacts to take action, while
income rose to Sfr.74,058,911. This will enable us to
the Global Institute provides the vehicles and initiatives
add Sfr.1,751,121 to our reserves, allowing us to
to help them succeed.
continue to invest in the Forum’s future.
We have recruited one of the foremost authorities in
Youth has always been a key part of our identity,
scenario development, Ged Davis, to lead the Centre
both in the age balance of our staff and in the
for Strategic Insight. Ged held senior positions with the
constituencies of young leaders that we support. In
Royal Dutch/Shell Group, latterly as head of its
May, we announced the creation of a dynamic new
scenarios team. Outside the corporate world, he has
young leaders community. This Forum of Young Global
undertaken scenario work for the World Business
Leaders will bring together 1,111 men and women
Council for Sustainable Development, the
from all walks of life who have shown commitment to
Intergovernmental Panel on Climate Change Emissions
improving the state of the world. I am convinced they
and UNAIDS. The Global Institute for Partnership and
will go on to provide a true competitive advantage to
Governance is headed by Rick Samans, who joined
the Forum, making it more forward-looking, innovative
the Forum as a director in 2001. Rick, a former special
and provocative, qualities essential if we are to help
assistant on international economic policy to the US
achieve a more prosperous and peaceful future.
President, is well qualified for this public-private role.
In terms of membership development, financial results,
To make sure the new organization achieves optimum
institution building, as well as human resources
performance, we introduced a change programme
development, last year was the most successful in the
called Waves. This far-reaching initiative involves three
history of the World Economic Forum. I would like to
stages or ‘waves’, focusing sequentially on the
thank our members, whose engagement made this
individual, teams and the overall organization. The HR
success possible.
team also laid the groundwork for a development and
coaching programme for the Forum’s senior managers.
I would like to thank all our people for their
www.weforum.org
contribution; they do an extraordinary job. Thanks
must also go to the Foundation Board and our
constituencies who, during the course of 2003/2004,
showed true ownership of, and commitment to, the Klaus Schwab
Forum by taking on far more strategic responsibility. Founder and Executive Chairman
3

Annual Meeting
John Ashcroft, US Attorney-General
The World Economic Forum’s 2004 Annual
Meeting was held in a spirit of cautious optimism
after two years in which it had been dominated by
the threat of global terrorism and war in Iraq. It
provided a unique platform for leaders from 94
countries and all walks of life to seek ways of
driving forward global economic development,
for the good of both business and society.
Although the world remained a fragile and
uncertain place, the Meeting was convened
against a background of encouraging signs in
the global economy and on the geopolitical
scene. To reflect the Forum’s conviction that a
multistakeholder approach is needed to reinforce
this positive trend, discussions were held under the
theme of Partnering for Security and Prosperity.
Mohammad Khatami, President of the Islamic Republic of Iran
At the Annual Meeting, 2,280 leaders, from the
Ratio of Annual Meeting participants 2004 arenas of politics, academia, non-governmental
organizations, the media, religion and civil society
convened in Davos, Switzerland. In a series of
Religious leaders
workshops, panel discussions and plenary
NGOs
Technology Pioneers
sessions the participants focused on seven key
Global Leaders for Tomorrow
threads: ensuring global security; promoting global
Academia
growth; managing new risks; building corporate
resilience; spurring innovation; harnessing the
Other constituents diversity of values, and reducing inequality.
Business
With no single overwhelming issue heading the
international agenda, participants tackled a very
Media Fellows/Leaders
broad subject range. As they explored the
complexity and interdependence of global
Public figures
challenges three clear themes emerged:
4

Recep Tayyip Erdogan, Prime Minister of Turkey Jack Straw, UK Secretary of State for Foreign and
Commonwealth Affairs
• There is a need to address major international dedicated to providing credible, transparent and
issues in an integrated and interdisciplinary way standardized corporate GHG emissions data to
the general public. The register aims to stimulate
• A comprehensive and structured framework the disclosure and management of worldwide
for collaboration is required because global climate emissions by major companies
challenges cannot be met by any single
“Our principles will be of no value if they do not
government, industry or business
translate into action... We are rising to this challenge,
• There is a need for a more proactive and
pragmatic approach to supranational challenges
realizing that business and community go hand-in-hand.”
The Annual Meeting acted to address these Peter Bakker, Chief Executive Officer, TPG, the Netherlands
issues by providing a springboard for greater
business engagement in public-private • In a move to combat global corruption,
partnerships. Concrete actions included: a joint 19 leading international engineering and
initiative between Microsoft and the United Nations construction companies adopted a set of
that will provide US$1 billion to establish computer business principles for countering bribery.
centres in poor communities; a collaboration These businesses represent total annual
between the US Agency for International revenue in excess of US$70 billion. The
Development, VISA and the Foundation for principles were the product of a year-long
International Community Assistance to benefit effort by the World Economic Forum’s
microfinance clients in the developing world; and Governors for Engineering and Construction
the re-launch of the Trans-Atlantic Business Task Force, working closely with Transparency
Dialogue, which promotes closer commercial ties International and the Basel Institute on
between the US and the European Union. Governance. The companies have committed
to ‘zero tolerance’ of bribery and to the
The World Economic Forum also launched a development of a programme of internal
range of initiatives designed to promote positive systems and controls for implementing this policy
international collaboration. For example:
• The CEOs of eight logistics and transportation
www.weforum.org
• The Global Greenhouse Gas (GHG) Register was companies called on their peers to take the lead
officially launched and 11 companies confirmed in placing corporate citizenship at the heart of
their commitment to disclosing the amount of business strategy. In a joint statement under the
greenhouse gases produced by their worldwide Forum’s Logistics and Transportation Corporate
operations. It is the only global initiative Citizenship Initiative, they committed themselves
5

Annual Meeting
Olusegun Obasanjo, President of Nigeria Jean-Claude Trichet, President, European Central Bank
to eight corporate citizenship principles. Initiatives launched at the Meeting included:
These included a joint programme to reduce • The ratification of a blueprint for economic
the industry’s impact on society and a plan to reforms across the 22 nations of the Arab
promote partnership with others to deliver world by the Arab Business Council (ABC)
emergency humanitarian assistance, food aid, of the World Economic Forum. The document
medicines and computers focuses on economic liberalization and reforms,
governance and human resource development.
“We cannot talk about growth and stability in my region The ABC was created at the Forum’s
Extraordinary Annual Meeting in Jordan in
without addressing a core conflict... the long and hateful 2003 to take action on key issues in the region.
It seeks to enhance regional competitiveness,
cycle of violence between Israelis and Palestinians.”
promote the economic integration of the region
into the global economy and to engage
King Abdullah II of Jordan
the leaders of the private sector to work with
governments to carry out reform
As well as these explicit outcomes, the Annual
Meeting once again proved a useful environment
• The Forum launched its Young Arab Leaders
for healing rifts and promoting understanding.
community. The group aims to galvanize a
It witnessed an easing of tension between the
predominantly young population from across
US and Europe, following differences over the
the Arab world to work for positive change. The
war in Iraq, and positive steps towards peace
community launched a drive to recruit some
between opposing parties in Israel, Cyprus
100 potential leaders under 45 who would
and Kashmir.
strive for a brighter future for the Arab world.
This group will promote champions and
The Forum continued to act to promote
role models to inspire Arab youth, in an
understanding and tolerance between the
effort to build a new heritage for the Arab
Muslim and Western worlds. Pakistani President
world that will be in line with its cultural traditions
Pervez Musharraf urged the two cultures to
and which could engage seamlessly with the
adopt a two-pronged approach to bridging the
global community
gap between them. He urged Muslims to reject
extremism and focus on socio-economic
• The Forum officially launched the Council of 100
development and the West to resolve political
Leaders. This group aims to become the
disputes involving Muslims and provide them
foremost community of senior political, religious,
with economic aid.
business, media and opinion leaders to promote
understanding and dialogue between the
6

Carol Bellamy, Executive Director, United Nations Children’s Fund William J. Clinton, Founder, William Jefferson Clinton Foundation;
(UNICEF), New York President of the United States (1993-2001)
Western and Islamic worlds. The Council Millennium Declaration goals. The Declaration
includes 20 leaders from each of these set targets for peace, security, poverty, hunger,
five sectors, representing Western and education, health, environment and human
Islamic thought rights. The report found that during 2003, the
international community rated no more than four
Alongside optimism about a global economic out of 10 in any area
recovery and a hunger for better dialogue
“All elements of society need to work much more
between Islam and the West, there was also
concern about the emerging challenges and risks
effectively if we are to meet the [Millennium] goals by 2015.
that face the world. These ranged from the
potential financial crisis in China and turmoil in
No one group on its own can achieve the goals.”
Iraq to growing US deficits, corporate
scandals and the forthcoming US election. Sir Mark Moody-Stuart, Chairman, Anglo American Plc, United Kingdom
Further evidence of the challenges that lie ahead • A World Economic Forum survey Living
for the global community came from a series of Happily Ever After: The Economic Implications
reports and surveys published both before and of Ageing Societies showed how the combined
during the Annual Meeting, as a framework for effects of slower labour force growth and
discussion. These included: population ageing could undermine the
pension systems and broader economic
• The Voice of the People survey, carried out prospects of many developed countries.
exclusively for the World Economic Forum by The report pointed to greater immigration,
Gallup International. This revealed that half investment in technology and attracting
those questioned felt global security was poor additional workers into the labour force as
and that the next generation would live in a possible remedies
more dangerous world. It was based on
interviews with almost 43,000 people from 51 • A report from UNICEF and the Micronutrient
countries, representing the views of more than Initiative, Vitamin and Mineral Deficiency,
1.1 billion citizens concluded that a lack of basic vitamins
and minerals was damaging the health of
www.weforum.org
• The report of the World Economic Forum’s a third of the world’s population and holding
Global Governance Initiative concluded that back the economic development of most
governments, international organizations, countries in the southern hemisphere. The
business and civil society were not engaged report found that this lack impaired
sufficiently in realizing the United Nations intellectual development, compromised
7

Annual Meeting
Mikheil Saakashvili, President of Georgia Mario Monti, Commissioner for Competition, European Commission,
Brussels
immune systems, provoked birth defects and heads of state, 75 cabinet ministers, 52 heads of
consigned two billion people to lives below their non-governmental organizations, 250 media and
physical and mental potential opinion leaders, 164 academics, 28 religious
leaders from a variety of faiths and 18 international
The Annual Meeting provided a valuable trade unionists.
opportunity to identify and address the broad
spectrum of challenges to global security, The non-governmental organizations participating
prosperity and peace. For example, United Nations included Amnesty International, Human Rights
Secretary-General Kofi Annan urged business Watch, Transparency International, WWF, Save the
leaders to swing their support behind the Children, CARE, World Vision International and the
Millennium Goals and warned against a slide back International AIDS Vaccine Initiative.
into brute competition and “the laws of the jungle”.
The Annual Meeting once again provided a unique
“The United Nations must also protect millions of our barometer of leadership attitudes, with participants
returning home with new insights into global and
fellow men and women from the more familiar threats regional issues. They also built strong relationships
across communities and regions, helping to break
of poverty, hunger and disease.”
down international and cultural barriers and
promote understanding.
Kofi Annan, United Nations Secretary-General
Mr Annan could not have chosen a more influential For more about the Annual Meeting 2004, visit
platform to deliver this message. More than half www.weforum.org/annualmeeting
the participants were business leaders drawn from
the world’s major companies, including 24 of the
Fortune 50 top businesses. There were also 31
8

Joseph Deiss, President of the Swiss Confederation and Federal
Councillor of the Economy, and Paola Ghillani, Chief Executive Officer,
Max Havelaar Foundation, Switzerland
Open Forum Davos 2004 Among the highlights were the sessions:
• Trade Round, Where There Is a Will, There Must
The second Open Forum Davos was attended Be a Way – which focused on such issues as
by more than 2,000 local people and was again the implications of the world trade discussions at
successful in developing public understanding Cancun, how to get negotiations back on track
and support for the global issues that were and the positive role for the private sector
discussed at the World Economic Forum.
• Globalization or Deglobalization for the Benefit
The event, organized jointly by the Forum, Bread of the Poorest? – this debate examined the
for All and the Federation of Swiss Protestant challenges ahead, drawing on the newly released
Churches, invited the general public to take part report of the International Labour Organization’s
in nine debates around the topic of Globalization World Commission on the Social Dimension
or Deglobalization for the Benefit of the Poorest? of Globalization
Following the success of the first Open Forum Other sessions covered labour rights partnerships,
Davos in 2003 the event evolved to engage the biodiversity agenda, financial crisis and
greater business participation and, consequently, globalization, children’s rights, and religion.
more in-depth, high-quality discussion.
A small number of anti-globalization demonstrations
Industry participants included such leading figures took place during the programme and some of
as Peter Brabeck-Letmathe, Vice-Chairman and these dissenting voices were given a platform to
CEO of Nestlé, and Travis Engen, President share their views. These interactions reflect the
and CEO of Alcan. Many local schoolchildren were Forum’s commitment to engage in dialogue with
also involved in the event. all parts of society.
www.weforum.org
9

Participants at June’s Africa Economic Summit, in Maputo, Mozambique, listen to Ndidi
Nwuneli, Founder and Managing Partner of LEAP Africa. The session on leadership also
included a contribution from South African President Thabo Mbeki, pictured far right.
10

The regional agenda
Building
global and
regional
partnerships
The World Economic Forum seeks to tackle the The NEPAD Business Group (NBG) (formed at the
critical issues facing every region of the world. In 2002 Africa Economic Summit and now comprising
2003/2004, we again worked closely with regional more than 350 African companies, business
partners to find solutions to such challenges and to associations and multinationals active in Africa)
deliver social and economic development. highlighted the need for business to act responsibly
in support of the NEPAD.
Africa
The 14th Africa Economic Summit in Maputo, Plans to create a NEPAD Business Foundation to
Mozambique reaffirmed the central role of business mobilize and direct the business contribution to well-
in the New Partnership for Africa’s Development managed projects were announced at Maputo. NBG
(NEPAD) but also highlighted the need to translate working groups in transport, energy, construction,
words and ambitious ideals into concrete action. financial services and information and
communications technology also reported their
Mozambique, with its impressive range of progress in developing action plans.
successful investment projects and model cross-
regional public-private partnerships, demonstrates
“Mr Mugabe is a bad lawyer who has a good cause...
just what can be achieved through exemplary
governance, sound leadership and a strong civil Because the cause he upholds – which is African land
society and acts as a beacon of hope for the
rights – is fine. But it depends how you do it.”
rest of Africa.
Abdoulaye Wade, President of Senegal
To assess how to spread the best practice found
in Mozambique, summit participants visited some
of the country’s key development sites and sought The launch of the World Economic Forum Africa
to identify the crucial factors that would enable Competitiveness Report, which described the
these projects to be replicated elsewhere across continent’s dismal growth performance as “the
the continent. worst economic tragedy of the 20th century”,
generated a great deal of interest and concern at
Based on the case studies of recent successful an international level. In 2003/2004, the Forum’s
partnerships, such as the roll out of GSM telephony Global Health Initiative and Water Initiative
www.weforum.org
in Nigeria and the SASOL Natural Gas Project continued to play a valuable part in improving the
linking Mozambique and South Africa, participants quality of life for Africans.
discussed how to overcome such barriers as
access to finance, regulatory environments and For more information about the Africa Economic
capacity constraints. Summit, see www.weforum.org/africa
11

The regional agenda
Middle East liberalization, governance and human resource
The Middle East needs reform, development and development. To spread best practice, they
growth. These goals require genuine partnerships adopted covenants on accounting and audit
to energize the region’s potential and address its standards, corporate social responsibility,
common challenges. Such were the messages at corporate governance and combating corruption.
both the Annual Meeting and the World Economic The ABC also supported the establishment of the
Forum in Jordan. Egyptian National Competitiveness Council. Jordan
agreed to create a similar body and discussions
The World Economic Forum in Jordan in May 2004 were begun with Bahrain and Morocco.
brought leaders together for discussions under the
theme Facing the Real Challenges: Partnering for Another group of particular significance to the
Change, Peace and Development. Middle East, the Council of 100 Leaders, launched
a framework for its activities. Among the projects it
announced was the creation of an enhanced news
and information service providing a unique source of
facts on Western/Islamic issues in multiple
languages. The Council, which fosters dialogue
between the West and the Arab world, is co-chaired
by Lord Carey of Clifton, former Archbishop of
Canterbury in the UK, and H.R.H. Prince Turki Al
Faisal Al Saud, Chairman of the King Faisal Centre
for Research and Islamic Studies in Saudi Arabia.
In Jordan, the World Economic Forum’s Young Arab
Leaders group proposed an action plan to transform
the Arab world and aid its integration into the global
King Abdullah II of Jordan, left, in discussion with US Secretary of State Colin Powell in
economy. The plan is based on a three-pronged
May at the World Economic Forum in Jordan
approach to enhance Arab competitiveness. First, it
The meeting was the region’s premier platform for aims to re-instil pride in Arab heritage and its ability to
engaging business and governments in a process achieve goals. Second, it seeks to motivate Arab youth
focused on implementing policy reform. to work towards achievement, and third, it intends to
engage Arab youth with specific Young Arab Leaders’
The 650 participants came from both the Middle programmes that offer appropriate role models.
East and around the world under the patronage of
His Majesty King Abdullah II of Jordan. Key issues The Jordan Education Initiative, a public-private
discussed included the handover of power in Iraq partnership designed to deliver effective learning
and Arab-Israeli relations, but the meeting also to the kingdom’s citizens, continued its
focused on both political and business reform. successful development.
For details, see www.weforum.org/jordan
Europe
During 2003/2004, the newly created Arab Business The European Economic Summit in Warsaw
Council (ABC) of the World Economic Forum sought was timed to coincide with the enlargement of the
to enhance competitiveness in the region. It focused European Union from 15 to 25 members on 1 May
on cooperating with the region’s governments and 2004. It was the first meeting to convene key players
leading organizations to encourage market-oriented of the new Europe at the highest level and broached
economic reforms, reinforcing the voice of Arab such important issues as the developing labour
business leaders, and serving as the advisory body to market, immigration and the investment climate.
the World Economic Forum on its strategy in the
Middle East. More than 20 heads of state were among the 630
leaders from business, academia, the media and civil
ABC members ratified a blueprint for reforms society who convened at the summit in Poland, the
across the Arab world that focused on economic largest of the accession countries. Among them were
12

heads of state from countries that could form the next Through a hugely successful collaboration with BBC
wave of enlargement, including Romanian President World, the summit also saw the international broadcast
Ion Iliescu and Georgi Parvanov, President of Bulgaria. of an hour-long debate involving key participants that
reached more than 250 million viewers worldwide.
The key themes that emerged included the need The debate explored the issues surrounding the
to step up efforts towards the goal of the Lisbon migration of jobs and people across Europe.
Agenda, a 10-year strategy to make Europe the For more information, visit www.weforum.org/europe
most competitive economy in the world by 2010.
Discussions followed the World Economic Forum’s The future of Far Eastern Europe was high on the
second Lisbon Review, which compared the agenda at the Annual Meeting, where European
economies of new and old Europe and concluded leaders present included Recep Tayyip Erdogan,
that the strongest new EU members could out- Prime Minister of Turkey, and Georgian President
perform the weakest older members. Mikheil Saakashvili, who introduced his economic
programme and invited foreign investment.
Debate also focused on the need to draw on the spirit
of the new EU members to drive entrepreneurship In 2003/2004, Forum initiatives continued to play
forward and the essential message that enlargement an important role in shaping the European agenda.
was part of an ongoing process. Beyond the EU’s As well as the Lisbon Review, the Global
borders, there are neighbours eager to identify with Competitiveness Programme also published The
the emerging European identity, a point highlighted Global Competitiveness Report, which provided a
by the presence of Leonid Kuchma, President of the unique appraisal of the performance of European
Ukraine, and three heads of state from the Caucasus. economies within its worldwide coverage.
A survey of business leaders, launched at the end Many European businesses continued to be involved
of the summit, revealed that 89% felt the inclusion in the Forum’s Global Corporate Governance
of the 10 new countries would make a positive Dialogue. Considerable scope remains to extend this
contribution to the debate on European economic initiative to countries in central and eastern Europe,
reform, with four-fifths believing EU expansion had where many companies continue to need guidance
not yet reached its limit. in the principles of corporate behaviour.
European Union enlargement
The European Economic Summit was convened in were largely the result of
Poland to provide a platform for leaders from business, earlier mistakes that had
politics and civil society to discuss issues facing the allowed uncontrolled
region on the eve of European Union enlargement. immigration. Stanca
emphasized that efforts
BBC World televised a World Economic Forum were needed to inform
debate on enlargement and immigration, presented the public that foreign
by leading journalist and anchorman Nik Gowing, workers were necessary.
From left: Vaira Vike-Freiberga, President of Latvia;
days before 10 new countries joined the EU. While Günter Verheugen, then Commissioner for Enlargement,
European Commission, Brussels, and Aleksander
Europe’s falling birth rates make importing new Frank Laczko, who
Kwasniewski, President of Poland
workers essential, it was thought that there was a heads research at the
need to better manage immigration. International Organisation for Migration, said that
fears of a flood of migrants were largely unfounded.
www.weforum.org
The debate included such key personalities as Günter He pointed out that after the fall of the Berlin Wall,
Verheugen, the European Union’s Commissioner for there were fears that 25 million workers might flood
Enlargement, Portuguese President Jorge Sampaio from East to West. In fact, there are now only
and Italy’s Minister of Innovation and Technology, Lucio 850,000 migrants from Eastern and Central Europe
Stanca. Viewers heard that public fears about migrants living in the West.
13

The regional agenda
The World Economic Forum’s Russia Meeting in summit used the occasion to voice strong support for
Moscow coincided with Russia recording the highest quickening economic integration in Asia, prior to the
growth rate of the post-communist era, its first 2020 deadline set by ASEAN’s leaders.
investment grade ranking, government action against
the Yukos oil company, and the eve of national elections. The China Business Summit in Beijing, in
November 2003, saw the joint efforts of the WTO,
the UNCTAD and IFC, under the umbrella of the World
“America wants the strongest possible Europe... Economic Forum, to support and enhance China’s
integration into the global trading and economic
You must not sell yourselves short, and settle for less
community. Five hundred business leaders heard a
call from the government for greater corporate
than the military capability and influence you deserve.”
responsibility and also took part in a ground-breaking
Dick Cheney, Vice-President of the United States of America series of workshops to highlight the role of
partnerships between business, government and civil
The main thrust of the meeting was a broad society to combat the spread of HIV/AIDS in China.
scenario-building exercise, which captured the
attention of the meeting’s 400 business executives Also in November 2003, around 500 senior business
and analysts. Russia’s competitiveness and the leaders, experts, members of the government and
importance of its oil and gas industries were among senior officials convened for the India Economic
the key issues. The highlight of the summit was an Summit in New Delhi. Participants sought to assess
address by President Vladimir Putin, who expressed India’s competitiveness and to develop blueprints for
optimism for the country’s economy. success. For details, see www.weforum.org/india
Asia and the Far East The Asia Strategic Insight Roundtable in Seoul,
The East Asia Economic Summit in Singapore, Republic of Korea, was held in June in the wake of
held under the theme Asia’s Future: Recapturing President Roh Moo-Hyun’s return to office after his
Dynamism amidst the region’s recovery from SARS impeachment was overturned. Two hundred top
and in the aftermath of terrorist bombings in Bali and decision-makers, from business government and civil
Jakarta, was a striking symbol of Asia’s ability to come society convened to examine emerging challenges.
together at times of crisis. Business leaders at the Participants assessed future scenarios and
India
After Manmohan Singh meet in New Delhi to celebrate the 20th anniversary
became Prime Minister of of the India summit. They will discuss India’s
India in May 2004 one of achievements in areas of priority for the country’s
the first international sustained economic progress, especially in ICT,
visitors he received was biotechnology, pharmaceuticals, research and
Colette Mathur, the World development, auto components, manufacturing,
Economic Forum’s India outsourcing and foreign investments, while
and South Asia director. identifying areas where further reforms and progress
Colette Mathur, Director, India and South Asia, World Economic
Forum, meeting with Indian Prime Minister Manmohan Singh must be achieved.
Their meeting reflected the close and trusting
relationship that India and the Forum have enjoyed for Mathur said that the Forum had been an advocate
two decades. A relationship that began formally in for the potential and quality of Indian industry, long
Geneva in 1984, when then-prime minister Rajiv before its recent economic boom. She said: “The
Gandhi agreed to host an inaugural India Economic Forum always shared its expertise and experience
Summit the following year. with the country. Going forward, we can support
India on such key issues as reform, on foreign
In December 2004, leaders of India’s business and investment, and in the growing multinationalism of
political community and their international peers will the business sector.”
14

developed new strategies in response to such administration’s position in the aftermath of the war
challenges. See www.weforum.org/eastasia during the Annual Meeting. He was joined at Davos
by 15 Members of Congress from both the
In February 2004, members of the World Economic Republican and Democratic parties. The US also
Forum’s New Asian Leaders (NALs) community held sought to address concerns about Iraq at the World
their official retreat in Malaysia. His Majesty King Economic Forum in Jordan summit, where Secretary
Abdullah II of Jordan gave a keynote address and of State Colin Powell led a delegation that met Arab
took a leading role at a meeting between the NALs leaders in the aftermath of the Abu Ghraib prison
and the Arab Business Council. abuse scandal.
Latin America
In May 2004, Klaus Schwab met privately with
Premier Wen Jiabao and other state leaders to After several years of political and economic
discuss the Forum’s 25-year relationship with China. instability, Latin America began to show signs of
recovery. Nevertheless, the need to strengthen
North America institutions, deliver economic reforms and improve
The region continued to expand its presence in the social conditions remained.
World Economic Forum with a third of all corporate
members now coming from the US. This high The region is seeking to improve competitiveness,
representation satisfied the continuing demand of particularly in meeting the challenge of China’s
other world leaders to engage with the US. growing importance in the world economy. Through
our Global Competitiveness Programme, the Forum
In November 2003, the Forum convened more than sought to contribute to regional thinking and to help
100 US leaders at Columbia University in New York make the Latin economies more competitive.
to prepare for the Annual Meeting. It was the first
‘Taste of Davos’ event held in the country and gave At the Annual Meeting, the failure of World Trade
participants an insight into the topics and a chance Organization negotiations at Cancun was of high
to contribute their own views. concern because trade liberalization is essential for
economic development in Latin America. Davos also
Following previous divisions over the conflict in Iraq, saw a meeting between Brazilian and Indian
US Vice-President Dick Cheney presented the participants to build a closer relationship.
Asia Strategic Insight Roundtable
In June 2004, 200 political and business leaders Japan’s limited recovery
convened at the Asia Strategic Insight Roundtable weighed heavily on the
in Seoul, Republic of Korea, to exchange ideas and minds of participants,
scenarios for the future of the region’s economy. who included Heizo
Takenaka, Minister of
Participants focused on such key questions as the State for Financial
resilience of the Japanese recovery and the ability of Services, Economic and
China to achieve a ‘soft landing’ after years of Fiscal Policy of Japan. Roh Moo-Hyun, President of the Republic of Korea
impressive economic growth. During the event, which They also examined a
was hosted by President Roh Moo-Hyun, leaders also broad spectrum of risks to the economic and social
debated the pace of Asian economic integration, the development of Asia, including terrorism and a
consequences of Chinese companies going global, recurrence of the SARS pandemic.
Asia’s security concerns, the transition to urban
www.weforum.org
economies and the region’s growing energy demands. The leaders agreed there was a need for constant
monitoring of the tensions and uncertainties around
Among key themes to emerge was a cautious the Korean peninsula, Taiwan Straits and
optimism for the entire region fuelled by the India/Pakistan, which threatened to overshadow
economic success of China and India, although investment decisions.
15

Business has an important role to play in managing climate change and investors,
consumers and NGOs are all seeking information about how companies are tackling
the issue. The World Economic Forum’s Global Greenhouse Gas Register is the only
platform that enables companies to provide comparable and comprehensive emissions
data to the public.
16

Global Institute for Partnership and Governance
Advancing the
spirit and
practice of
global citizenship
e-curricula in mathematics. The impact of JEI
In 2003/2004, the World Economic Forum
reforms at 96 designated ‘Discovery Schools’ was
established the Global Institute for Partnership and
felt by 17,500 pupils and 500 teachers. The JEI also
Governance. The Global Institute works to advance
supported the development of the kingdom’s IT
the spirit and practice of global citizenship through
industry with each e-curriculum being developed
specific acts of collaborative problem-solving. It
jointly by international and Jordanian IT companies.
provides a platform for multistakeholder
partnerships that seek to tackle global challenges
“What we really need to do is to stop new people from
by catalysing action, improving governance and
bridging perspectives.
being infected [with HIV/AIDS]. The most dramatic thing
Global Health Initiative (GHI)
would be a microbicide or a vaccine.”
The GHI seeks to increase business efforts to tackle
HIV/AIDS tuberculosis and malaria. It serves as a Bill Gates, Co-founder, Bill and Melinda Gates Foundation
focal point for private sector engagement with the
Global Fund to Fight AIDS, TB and Malaria, and the Global Greenhouse Gas (GHG) Register
Stop TB and Roll Back Malaria partnerships. In 2003/2004, the Forum, in partnership with
business and environmental groups, launched the
The initiative continued to work with Forum member Global Greenhouse Gas Register. This is the first
companies and bodies such as the World Health international initiative dedicated to providing
Organization, the Joint United Nations Programme comparable and comprehensive corporate
on HIV/AIDS, the International Labour Organization, greenhouse gas emissions data to the public. It
and the World Bank in southern Africa, India and gives companies from all regions and industry
south-east Asia. It launched the India Business sectors the chance to show how much GHG they
Alliance to Stop TB, which will serve as a model for produce, and what they are doing about it. Eleven
similar initiatives in other regions. It also published major businesses signed up to the register. These
the first report on the global business response to companies emit an estimated 800 million tons of
HIV/AIDS, suggesting that companies are not yet carbon dioxide equivalent per year.
playing a significant role in tackling the pandemic.
Water Initiative
Jordan Education Initiative The Water Initiative facilitates multistakeholder
www.weforum.org
The Jordan Education Initiative (JEI) brings together co-operation in the management of watersheds. Water
nearly 30 companies with the Jordanian authorities is a key resource and the initiative strives to improve
to transform public education through technology. In the quality and quantity for business and communities.
2003/2004, it accelerated curricular, teaching and Its activities in 2003/2004 included the launch of the
infrastructure reforms in 50 schools and introduced Africa Water Project Exchange, which successfully
17

Global Institute for Partnership and Governance
matched five water-related projects with potential Wyatt Worldwide, an assessment of the readiness of
funding organizations. For more information about Organisation for Economic Co-operation and
the initiative, see www.weforum.org/water Development (OECD) countries, which is intended as a
tool to spur greater action.
“At Alcan, we now know that whether we are managing
Global Corporate Citizenship Initiative
a watershed or a harbour, we have an inescapable More than 70% of CEOs surveyed by the World
Economic Forum believe that mainstream investors will
duty to the larger community.”
develop a greater interest in corporate citizenship
issues. The findings were published in a major report
Travis Engen, CEO of Alcan Inc, Canada
entitled Values and Value: Communicating the
Global Governance Initiative Strategic Importance of Corporate Citizenship to
The Global Governance Initiative monitors the efforts Investors. The Global Corporate Citizenship Initiative
of governments, the private sector, international focuses on improving corporate social responsibility
organizations and civil society towards the goals of programmes. It hosted three roundtable discussions
the United Nations Millennium Declaration. These on ‘Mainstreaming responsible investment’.
objectives relate to poverty, conflict, health, education,
the environment, human rights and hunger. In 2004, Council of 100 Leaders
the initiative’s first annual report concluded that the The Council of 100 Leaders was launched at the
international community was investing less than half Annual Meeting with a debate on Promoting Inter-
the effort needed to meet these targets. Civilizational Dialogue and Action. This was followed by
a debate on Modernism, Secularization and Religion at
Pension System Readiness Initiative the World Economic Forum in Jordan. The council
Increased life expectancy is putting unsustainable seeks to support projects that address problems
pressure on pension systems. The Pension System facing society in the areas of education, justice,
Readiness Initiative brings together leaders from the peace, advancing development, social justice and
financial services and employment sectors with senior human rights.
citizens’ groups, labour unions and governments to
assess international retirement system readiness. For more about the Global Institute for Partnership and
During the year, the initiative developed, with Watson Governance, see www.weforum.org/GIPG
Africa Water Project Exchange
In 2003/2004, the World During the summit, the World Economic Forum
Economic Forum launched announced the first promising water project
a new matchmaking partnerships, including initiatives in Mozambique,
service to create public- Nigeria, South Africa, Malawi, Tanzania, Kenya
private partnerships for the and Swaziland.
delivery, conservation and
management of water Activities include strengthening the Joint Water
projects in Africa. Commission between Swaziland and Mozambique
Joaquim Chissano, President of Mozambique, left, and
Frédéric Sicre, Managing Director, World Economic Forum with private and public involvement; a water
The Africa Water Project Exchange was inaugurated by optimization programme for 16 bottling plants in
President Joaquim Alberto Chissano of Mozambique Nigeria and a recycling project in industrial
at the Africa Economic Summit 2004 in Maputo. To development zones in South Africa.
mark the occasion, President Chissano and Gugu
Moloi, CEO of Umgeni Water, South Africa, started a The Africa Water Project Exchange is the first
play pump – a merry-go-round that allows children to regional component of the Water Project Exchange,
draw water for their school while they play. The pump the main activity of the World Economic Forum’s
is one of the schemes to benefit from the programme. Water Initiative.
18

Centre for Strategic Insight
In 2003/2004, the Forum established the Centre for It received extensive positive international attention.
Strategic Insight to identify emerging risks and to Several events were arranged in conjunction with the
help shape the global business and political agenda. publication, including a session in Washington DC,
The Centre seeks to deliver a sound understanding with commercial attachés, and a competitiveness
of the challenges facing the world and to guide panel debate in New York.
global corporate and government policy.
The programme launched three other publications
The Centre is organised into four core teams, during the year: The Global Information Technology
focusing on: business insight; global insight; Report, the Lisbon Review and The Africa
economics and competitiveness; and global and Competitiveness Report. The competitiveness team
regional agendas. These teams aim to develop held sessions at the Annual Meeting and regional
a unique understanding of the challenges facing summits and presented their work at a series of
every region and to focus the World Economic national conferences.
Forum’s meetings, task forces and initiatives on
those issues that will have a major impact on The Centre for Strategic Insight began to assess
economic development, both today and tomorrow. risks facing the global economy ranging from
terrorism to those associated with science and
Ged Davis, former head of scenario planning at technology. Working with a strategic partner, it will
Royal Dutch/Shell, heads the new Centre. Working produce a twice-yearly assessment of global risks.
closely with the Forum’s networks and communities Plans were also drawn up for a new fortnightly
he has begun to develop a programme of concrete members’ publication to include strategic insight
projects. For example, one initiative was launched to updates and reports on key industry sectors.
assess likely political and economic developments in
India and another to identify breakthrough For more information about the Centre for Strategic
management ideas. Insight, see www.weforum.org/CSI
The Forum’s Global Competitiveness Programme will
be a key plank of the Centre’s activity. In 2003/2004,
The Global Competitiveness Report was extended to
cover 102 countries, up from 80 the previous year.
Identifying breakthrough ideas
The private sector will benefit from breakthrough The information gathered
ideas on improving the way companies operate, will now be developed with
thanks to a joint project between the World the insights gained being
Economic Forum’s Centre for Strategic Insight used to strengthen the
and the Harvard Business Review. Forum’s knowledge base
and to enrich future events.
The project included a workshop that sought to
identify the new thinking that would have the greatest In another ground-breaking Thierry Malleret, Senior Director for Global Insight, left,
and Ged Davis, head of the Centre for Strategic Insight
impact on business. The event brought together 20 initiative, the Centre for
key individuals, including consultants, entrepreneurs, Strategic Insight launched the India and the World
academic research directors, editors and others with scenario project. Working with senior executives
a broad view of new and innovative ideas. from global companies, other thought-leaders and
scenario practitioners, the project sought to
www.weforum.org
The team contributed around 10 ideas to be used anticipate a range of possible futures for the
in the Harvard Business Review’s list of new subcontinent. The knowledge will be used to build
management ideas, to be published early in 2005, robust strategies to meet coming challenges. Similar
and presented to the next Annual Meeting in Davos. exercises are planned for Russia and the Arab world.
19

In 2003/2004, the coverage of The Global Competitiveness Report was extended from 80
to 102 countries and particular efforts were made to include those in sub-Saharan Africa.
20

Our members and partners
Committing to
our mission
The World Economic Forum works with influential Broadcasting Group Plc, Carlyle Group, CDP
companies from all industry sectors and every Capital (Caisse de Dépôt et Placement du
region of the globe. Together we seek to tackle Québec), Centre of Excellence for Applied
the most complex and challenging issues facing Research & Training (CERT), China Aviation Oil
mankind and to improve the state of the world. (Singapore) Corporation Ltd, Chiquita Brands
International Inc., CNBC, Coinvertir – Corporacion
Members Invertir En Colombia, Columbia House Company,
Our members represent the world’s 1,000 leading Commercial League National Pharma Center Inc.,
companies, including 200 smaller businesses, Covington & Burling, Daesung Group, Dallah Al
many from the developing world, which play a Baraka Holding Co., Danaher Corporation, Dentsu
potent role in their industry or region. They are Inc., Dr Reddy's Laboratories Ltd, Dubai
more than just influential and powerful. Many are International Financial Centre (DIFC), Dyno Nobel
also innovative and inspiring organizations that Asa, eBay Inc., Emaar Properties PJSC, Emirates
National Oil Company Ltd, Escorts Limited, Fast
challenge conventional thinking and are committed
Retailing Corporation (Uniqlo), FLAG Telecom
to making the world a better place.
Group Ltd, Ford Motor Company, Fuji Television
Network Inc, Grupo IUSA, Guangzhou
Reflecting our belief that global and regional
Development Industry (Holdings) Co. Ltd,
problems are too large and complex to be solved
Halcrow Group Ltd, Havas Group, Hayel Saeed
by any single organization, our members work
Anam Group of Companies (HSA Group),
together and with communities of leaders from
Hikma Pharmaceuticals, HSBC Bank Plc,
academia, government, religion, the media, non-
Hyperion Solutions Corporation, International
governmental organizations and the arts.
Container Terminal Services Inc. (ICTSI),
Interros Holding Company, Isu Group, Japan
During 2003/2004, the following companies were
Aerospace Exploration Agency (JAXA), Japan
accepted as members of the World Economic
Tobacco Inc., JSW Group, Jubilant Organosys Ltd,
Forum: AirAsia Bhd, Ajit Khimji Group of
Keppel Corporation Limited, Koç Holding AS,
Companies LLC, Alcoa Inc., Al Futtaim Trading
Konka Group Co. Ltd, Lenenergo JSC, Liberty
Group, Al-Ghurair Group of Companies, Allied
Mutual Group, Lucent Technologies Inc., Lupin Ltd,
Capital, AlpInvest Partners NV, AMD (Advanced
www.weforum.org
Maeil Business Newspaper and TV, Mansour
Micro Devices Inc.), Anglo American Corporation of
Group, Mercer Inc., Metro AG, Mobile
South Africa Ltd, AngloGold Ashanti Limited, Attar
Telecommunications Co., NASD, National Bank of
Group, Aveng Limited, Baker & McKenzie, Bank
Greece, National Bank of Oman (SAOG), National
Leumi Le-Israel BM, Beijing Capital Group Co. Ltd,
Foundation for Teaching Entrepreneurship (NFTE),
Belgacom NV, Bin Zayed Group, British Sky
21

Our members and partners
Annual Meeting co-chairs, clockwise from top left: John T. Chambers,
President and CEO, Cisco Systems, USA; Marilyn C. Nelson, Chair
and CEO, Carlson Companies, USA; Walter B. Kielholz, Chairman of
the Board, Credit Suisse Group, Switzerland, and Carlos Ghosn,
President, Nissan Motor Company, Japan
Nigerian Economic Summit Group Ltd Gte (NESG), Partners
North Shore-LIJ Health System, Occidental Our partners are drawn from member companies
Petroleum Corporation, Office Chérifien des who strongly support, contribute to and benefit from
Phosphates (OCP), Olam International Ltd, Oman the World Economic Forum’s mission. They are
Oil Company SAOC, Orange Plc, Petro-Energy actively involved in the organization’s activities and
Management Ltd, Pitango Venture Capital, PSA contribute their expertise and resources.
Corporation Limited, Public Broadcasting Service
(PBS), Quexco Inc., Research in Motion (RIM), In 2003/2004, over 80 companies formally joined
Rosneft Oil Company, Royal DSM NV, Sagawa as partners of the Forum across a broad array of
Express Co. Ltd, Sapura, SEB Groupe, Sembcorp initiatives, activities and events. These included
Industries Ltd, Shamil Bank of Bahrain, Silicon three new strategic partners who displayed a deep
Graphics Inc. (SGI), Singapore Airlines Limited (SIA), commitment to our mission by engaging their
Sinochem Corporation, Skab Group of Companies, companies in multiple Forum projects.
Software House International (SHI) Inc., Solidere,
Sovico Corporation, Starbucks Coffee Company, As of 30 June 2004, our strategic partners were:
State Bank of India, Sual-Holding, Sumitomo ABB, Accel Partners, Accenture, Apax Partners,
A.T. Kearney, Audi, Bain & Company, Barco, The
“By including our commitment in the World Economic Boeing Company, Bombardier, Booz Allen Hamilton,
BP, Cisco Systems, The Coca-Cola Company, Deloitte
Forum’s [Greenhouse Gas] Register, we want to show Touche Tohmatsu, DHL, Ernst & Young, HP, IBM
Corporation, KPMG, Kudelski Group, McKinsey & Co.,
that business is taking real action to cut CO2 emissions.”
Merck & Co. Inc., Merrill Lynch, Microsoft Corporation,
Nestlé, Nike, PepsiCo, Pfizer, PricewaterhouseCoopers,
Chris Boyd, Chairman of Lafarge, Italy
Siemens, Swiss Re, UBS, Volkswagen, Zurich
Chemical Company Ltd, Swisscom AG, Symbian Ltd, Financial Services.
Symbol Technologies Inc., Teachers’ Insurance and
Annuity Association College Retirement Equities Fund Around 35% of places are made available to
(TIAA-CREF), Telecom Egypt, Tenet Healthcare companies from the developing world, and others to
Corporation, Uni-President Enterprises Co., United entrepreneurs whose innovative thinking and drive are
Mizrahi Bank Ltd, VeriSign Inc., Veritas Software, changing their industries.
Vimpel-Communications, Vodacom Group Pty Ltd,
Washington Group International Inc., West Japan To find out more, visit www.weforum.org/members
Railway Company.
22

Our communities and constituencies
Harnessing
expertise and
capabilities
Communities industry-specific initiatives and task forces and
industry-targeted sessions at our meetings and events.
The World Economic Forum recognizes the Governors for the communications and technology
importance of specific expertise as key to its success. industry are working with governments to bring
To nurture these capabilities the Forum has created affordable technology to the developing world. For
communities of member and partner companies and example, in 2003/2004, they continued to be
encourages interaction between them, whenever it is involved in the Jordan Education Initiative, which
relevant and worthwhile. has mobilized more than US$14 million to transform
education in the kingdom through the use of
The International Business Council computer technology. Through the IT Access for
In 2003/2004, the International Business Council’s Everyone programme they have also pledged
(IBC’s) trade task force continued to emphasize the US$1 million to fund research into the feasibility of an
importance of trade liberalization. Following the affordable PC-type device for the developing world.
collapse of the Doha trade round, the IBC
“It’s hard to expect long-term stewardship from short-
reiterated its support for the World Trade
Organization and its belief in the goal and
term stewards. In the United States from 1998 to 2001
completion of the Doha round for global prosperity
and security. At the start of the 2004/2005 financial
there was a 30% turnover rate among CEOs.”
year, the IBC was encouraged to see an agreement
has been reached to kick-start the talks again. Marilyn C. Nelson, Chair and CEO, Carlson Companies, USA
Two IBC meetings were held in summer 2003, in In other sectors, initiatives in the engineering and
Geneva, and in winter 2004 at the Annual Meeting in construction arena led to 19 companies adopting
Davos. Several members also participated in the principles for countering bribery, while in logistics
Forum’s summit in Jordan, which provided an and transportation, CEOs took steps to promote
opportunity to reaffirm their commitment to peace in corporate citizenship to their peers.
the region.
The Governors meet at the Annual Meeting and assign
Industry Governors representatives for Forum initiatives. They also attend
www.weforum.org
Industry Governors are made up of CEOs from major industry-specific events. For example, 20 Governors in
companies within specific industry groups. During the the communications and technology sector attended
year they continued to address issues of primary a roundtable on digital rights and intellectual property.
importance to their sectors and provide intellectual
stewardship to the Forum’s efforts, such as our See www.weforum.org/WEFcommunities
23

Our communities and constituencies
From left: Brian Bruce and Millard Arnold of industrial and
Lord Carey of Clifton, former Archbishop of Canterbury, at the
infrastructural holding company Murray & Roberts and Nick Moon
Annual Meeting 2004, in Davos
and Martin Fisher of NGO ApproTEC at the Annual Meeting
Constituencies Forum Fellows
Forum Fellows are our greatest source of intellectual
Advisory Groups capital. Out of a network of several hundred people at
Our Advisory Groups cover a range of interests, the cutting edge of their disciplines, 180 attended the
from religious leaders and non-governmental Annual Meeting. The Fellows participate in every
organizations to academic institutions and trade activity of the Forum from initiatives to private
unions. The purpose of these Advisory Groups is meetings, contributing ideas and in-depth knowledge.
to assist other key stakeholders in the global
economy to engage in, and help shape, World Global Leaders for Tomorrow
Economic Forum activities. The World Economic Forum is committed to
working with young leaders to challenge the status
“I think the unhappy truth is that the net result of the war quo and look at the world’s problems with fresh
eyes. Representing the new generation of leaders
on terror so far is to make more war and more terror.” from business, politics, the arts and civil society,
the Global Leaders for Tomorrow held a summit in
Gareth Evans, International Crisis Group, Belgium
Geneva in September 2003 aimed at tackling the
The Investors Group world’s problems in an energetic way.
The Investors Group was created in 2003/2004 to
integrate providers of capital into the World During the year, the Forum announced it was
Economic Forum’s activities. This new group seeks building on the success of these young individuals
to broaden debate and complement the to create a more ambitious group: the Forum of
perspective of the Forum’s membership by Young Global Leaders. It brings together 1,111
including such stakeholders as leading venture leaders, aged 40 or below. They will engage in the
financiers, private equity players and selected 2020 Initiative, an effort to address the complex
individual investors. challenges of today to shape a better future.
These investor representatives have an important Women Leaders
role to play in such issues as corporate The Women Leaders Programme is committed to
governance, the turnaround of failing companies supporting the progress of female leaders and the
and macroeconomic capital flow. Over the past advancement of issues facing women. During the
year, more than 25 investors became formally year, the Women Leaders Programme successfully
involved in Forum activities, working with other increased the participation of women in all Forum
communities on such issues as social return on events. It also hosted sessions on related issues in
investment and increasing employment. India, Switzerland and Jordan.
24

Technology Pioneers Annual Meeting with Bread for All and the Federation
Technology Pioneers are drawn from the most of Swiss Protestant Churches, and sessions were
innovative companies in the world. In 2004, in line organized with the Terre des Hommes Foundation,
with the World Economic Forum’s commitment to the Max Havelaar Foundation and IUCN – The World
encouraging dialogue between technology innovators Conservation Union. Oxfam attended our summits
and members, the constituency was fully integrated in Europe and Africa.
into the Annual Meeting. The Forum ensures the
quality of Technology Pioneers through a rigorous The Forum continued its dialogue with anti-
evaluation. Out of 114 candidates, only 30 globalization campaigners, exchanging views with
Technology Pioneers were selected for 2004. key leaders within the alter-globalization movement.
The Annual Meeting programme contained two Social Entrepreneurs
sessions focusing on this constituency’s work The World Economic Forum works with the Schwab
including: Technology Pioneers: Demystifying Foundation for Social Entrepreneurship to support
Innovation and Technology Pioneers: A New Lease people who, with little market reward or assistance,
on Health. They also took part in a private programme use their resources to address problems of
that included special guests from such organisations economic and social inequality.
as Google, Microsoft and Stanford University.
The Foundation consists of 74 individuals and
Dialogue with NGOs organizations, including 16 selected during the
During 2003/2004, the World Economic Forum year. Partnerships focusing on the work of social
continued to build strong relationships with entrepreneurs have been established with leading
non-governmental organizations (NGOs). corporations, including Hewlett Packard, VISA,
DHL, Diageo, Linklaters and Microsoft. In
We once again encouraged NGO involvement in 2003/2004, the Foundation established a course
our task forces and initiatives, with 63 groups being on social entrepreneurship at the University of
at the Annual Meeting. The Forum worked with Geneva. It also created the Leapfrog Fund with
Transparency International to develop principles to the Lemelson Foundation to support the
counter bribery in the engineering and construction replication of innovations by social entrepreneurs.
industry. We co-organized the Open Forum at the For more information, visit www.schwabfound.org
Social Entrepreneurship
Rory Stear is founder and CEO of the Freeplay telephone chargers and
Energy Group (FEG), which develops products flashlights. All are
based on self-sufficient energy technologies. The designed to meet the
South African is among 16 people nominated in demand for low-cost,
2003/2004 as members of the Schwab Foundation durable, self-powered
for Social Entrepreneurship network. products for use in the
developing world.
The Freeplay Energy Group’s wind-up radio is
FEG was founded in 1994 to give energy access Sustainable radio helping to spread education and information
to all. In 1996, its first product was the wind-up programming offers a in the developing world
radio, which has been a significant means of lifeline of information to
spreading education and information (from vulnerable populations with low literacy levels and
HIV/AIDS awareness to home-study English and limited access to electricity, television or
mathematics) among those least able to afford telephones. FEG launched the more powerful and
www.weforum.org
communication technology. Since then FEG has durable Lifeline Radio in 2003. This has already
developed other technologies that have helped played a major role in disaster relief and
them to improve the radio design and broaden disarmament projects in Burundi, Mozambique,
their product range to include medical instruments, Tanzania, Niger and Rwanda.
25

The World Economic Forum has a highly talented and educated staff, with a cultural diversity that
matches its global membership. Below, two colleagues from the Forum’s IT and Communications
teams tackle an outdoor challenge as part of a team-building exercise.
26

Our people
Talent from
around the
world
We rely on the skills, knowledge and dedication of our
Nationality Numbers* Nationality Numbers*
people to fulfill our mission. In 2003/2004, we acted to
further increase their expertise and to support them
American 19 Pakistani 1
during our ongoing reorganization, which aims to
Argentinian 1 Singaporean 1
adapt our structure to meet the demands of the
Australian 4 South African 2
Forum’s developing role.
Belgian 2 Spanish 4
Bolivian 1 Sri Lankan 1
The total number of staff rose from 159 in the previous Brazilian 2 Swedish 4
year to 180, representing a broad spectrum of 37 British 12 Swiss 40
nationalities. Among those recruited were several Canadian 5 Thai 1
people with significant industry experience and specific Chinese 1 Turkish 1
Costa Rican 1 Ukrainian 1
know-how who will reinforce our capabilities and
Danish 2 Nationalities 37
enhance our ability to bring value to our partners and
Dutch 6
members. The Forum integrated six staff seconded
Ethiopian 1
from member or partner organizations with regional
Age group Numbers*
Finnish 2
and/or industry-specific knowledge. Such secondees
French 25
participate fully as Forum staff during their stay. This
20 to 24 3
German 13
continued evolution of the Forum, which included the 25 to 29 37
Indian 3
creation of the Global Institute for Partnership and 30 to 34 49
Iranian 2
Governance and the Centre for Strategic Insight, led 35 to 39 34
Irish 1
to the development of new teams. 40 to 44 19
Italian 13
45 to 49 13
Japanese 1
50 to 54 3
To support the creation of this enlarged Forum Lebanese 1
55 to 59 12
Malagasy 1
community we introduced a formal process, known
60 to 62 5
Mexican 1
as ‘Waves’, a training programme focusing on the
63 to 65 3
Moroccan 2
individual, the team and the organization, which aims
65 or older 2
New Zealander 1
to help them perform better. We have now embarked
Total 180
Norwegian 1
on Wave two, which focuses on team contribution and
leadership skills. *Numbers as of 30 September 2004.
www.weforum.org
For more information, see www.weforum.org/staff
27

Our organization
Exemplary
governance
The Foundation Board • Lord Carey of Clifton
The Foundation Board is responsible for inspiring • Victor L. L. Chu
business and public confidence through an • Flavio Cotti
exemplary standard of governance. The Board’s • Michael S. Dell
members are individuals with unique leadership • Carly Fiorina
experience from business, politics, academia • Niall FitzGerald
and civil society. • Orit Gadiesh
• Rajat Gupta
“To achieve human dignity for all, internationally agreed • Nobuyuki Idei
• Caio Koch-Weser
targets must be considered simultaneously and through • Henry A. McKinnell
• Heinrich von Pierer
coordinated strategies.”
• H.M. Queen Rania of the Hashemite Kingdom
of Jordan
Mary Robinson, Executive Director of the Ethical Globalisation Initiative, USA
• Peter D. Sutherland
• Ernesto Zedillo Ponce de Leon
The Board’s role includes: managing the statutes
of the World Economic Forum; appointing new
The Committees of the Foundation Board
members; determining and monitoring the
The Foundation Board appoints four committees
execution of the Forum’s strategies, and defining
from among its members:
the roles of the Managing Board and Committees.
• The Executive Committee prepares the decisions
of the Foundation Board and oversees the
The membership criteria include integrity, global
Managing Board
vision, leadership experience and participation in
• The Audit Committee ensures compliance with
world affairs. In January 2004, the Forum
all financial, accounting and control processes
welcomed Carly Fiorina, Chairman and CEO of HP,
• The Evaluation and Remuneration Committee
and Orit Gadiesh, Chairman of Bain & Company,
recommends candidates for positions on the
USA, to the Foundation Board.
Managing Board and monitors their performance
• The Mission Compliance Committee reviews
The Foundation Board members for the year
Forum policies, strategies and activities in light
2004/2005 are:
of its mission
• Klaus Schwab, Executive Chairman
• William I. M. Turner, Vice-Chairman
For more information about the Foundation Board,
• Josef Ackermann, Vice-Chairman
visit www.weforum.org/foundationboard
• Kurt Alig, Secretary
• Peter Brabeck-Letmathe
28

Forum activities
Structure
The World Economic Forum’s structure continued
to evolve with the creation of three new core Annual Summits
departments: the Global Institute for Partnership
and Governance, the Centre for Strategic Insight,
and Events. Communities
Publications, Strategic
Reports & Intelligence
Newsletters
The new departments replaced our previous practice
Industry
Regional
structure and enhanced our ability to build and Communities
Communities
energize global communities, convene world leaders
Global
in high-level meetings and interaction, shape global, Community
Continuous Competitiveness
regional and industry agendas, and facilitate joint Interaction Programme
action through global initiatives and partnerships. Stakeholder
Communities
Global Institute for Partnership and Governance
Leadership
Many of today’s global and regional problems are Citizenship
Governance
Initiatives
too large and complex to be solved by traditional Programmes
intergovernmental processes alone. Expertise from
a variety of disciplines, stakeholders and regions
is often required. The Global Institute for Partnership aims to develop an integrated overview of global,
and Governance was created by the World industry and regional agendas. It contributes to
Economic Forum to broaden the application of all Forum activities, ensuring members’ and
private-public partnerships to some of the world’s communities’ focus on critical issues.
most pressing problems.
The Centre has four core teams, focusing on
The Institute consolidates all of our task forces business insight, global insight, economics and
and initiatives and is a comprehensive resource for competitiveness, and global and regional agendas.
companies seeking to engage with the public sector It builds on the strong foundations laid by our
to tackle global issues. Building on the Forum’s competitiveness and global agenda teams to offer
independence and informality, it provides an unique insights into developments across the
environment in which leaders can engage in world and to guide policy in the business and
collaborative problem-solving free from the political arenas.
constraints of intergovernmental protocol and
competitive corporate pressures. Events
Each year the World Economic Forum brings
The Institute’s initiatives combine expertise from together thousands of decision-makers in meetings
different regions and institutions in teams that span and regional summits to address the most crucial
geography and profession. Its projects integrate the issues facing mankind. These events enable
traditional thought leadership of research institutes members and constituents to discuss key issues
with the practical perspectives and priorities of and trends across the globe by sharing first-hand
executives from business, government and civil information and insights.
society institutions.
To maintain quality and effectiveness, we have
Centre for Strategic Insight created a new team with unique knowledge and
The World Economic Forum’s Centre for Strategic experience in developing such high-calibre events.
Insight works with the Forum’s network of The team is responsible for the smooth running of
communities such as business leaders, NGOs and such occasions as the Annual Meeting and the
www.weforum.org
policymakers to create relevant strategic insight. regional summits, and for ensuring that their
programmes take advantage of knowledge gained
There is particular emphasis on identifying by the Global Institute for Partnership and
emerging risks and developments that will shape Governance and the Centre for Strategic Insight.
the business and political agendas. The Centre
29

The Forum leadership
The 2003/2004 World Economic Forum Managing Board with the Executive Chairman. From left, Rick Samans, Frédéric Sicre, Ged Davis,
Klaus Schwab, José María Figueres, André Schneider, Michel Ogrizek
The Executive Chairman The Managing Board
Klaus Schwab The Managing Board acts as the executive body
Founder and Executive Chairman of the Foundation. It ensures that activities fulfil the
of the World Economic Forum mission of the World Economic Forum and acts as its
representative to outside parties. At September 30, the
For more information, visit www.weforum.org/schwab Managing Board members were as follows:
José María Figueres
Chief Executive Officer
Ged Davis
Managing Director, Centre for Strategic
Insight, and Acting Managing Director,
Community Management
Michel Ogrizek
Managing Director,
Head of Communications
Rick Samans
Managing Director,
Global Institute for Partnership
and Governance
André Schneider
Managing Director and Chief Operations
Officer, Events and Resource Management
Frédéric Sicre
Managing Director, Regional Strategy
For more information about members of the Managing
Board, visit www.weforum.org/managingboard
30

The Forum community
The commitment and expertise of our people drive the World Economic Forum’s activities and enable us to
achieve our goals. At 30 September 2004:
Chairman’s Office Marthi Ungar, Marika Volosin, Christophe Weber,
Klaus Schwab, Executive Chairman Carolina Windmeijer, Li Zhang, Reza Zia-Ebrahimi
Monika Boerlin, Regula Waltenspuel, Maryse Zwick
Community Management
CEO’s Office Thomas Glanzmann, Senior Adviser
José María Figueres, Chief Executive Officer Stefano Ammirati, Séverine Bachasse, Mireille Bertolini,
Mercedes Aubert, Sohini Chowdhury, Patricia Martin Ursina Boulgaris, Giancarlo Bruno, Théa Chiesa,
Mahasti Dadressan, Magguy Deleaval, Samantha
Centre for Strategic Insight Dimeck, Réka Fogarasi-Musso, Christoph Frei,
Ged Davis, Managing Director Laure-Anne Guignard, Nadia Guillot Socquet, Susanne
Sven Behrendt, Judith Binzegger, Jennifer Blanke, Helmsley, Laura Italici, Matthew McSorley, Viraj Mehta,
Carla Boeckman, Nathalie Cerutti, Wai Chik, Johannah Nathan Monash, Tanya Mounier, Simon Mulcahy,
Christensen, Sandra Costa-Marini, Ilaria Frau, Kerry Andrew Richards, Natascha Ruckstuhl, Susan
Jaggi, Stéphanie Janet, Jeremy Jurgens, Emma Simmons, Elena Smirnova, Kevin Steinberg, Mady
Loades, Augusto Lopez-Claros, Thierry Malleret, Irene Tissot, Silvia Von Gunten, Alex Wong
Mia, Bud Ris, Sarah Saffar, Vidhi Tambiah, Alexander
Event and Resources Management
Van de Putte, Saadia Zahidi
André Schneider, Managing Director and
Global Institute For Partnership Chief Operating Officer
and Goverance Chantal Adamson, Ntsoa Arintsoa, Helena Baars,
Guy-Serge Baer, Grégory Bernarda, Emmanuelle
Rick Samans, Managing Director
David Aikman, Francesca Boldrini, Heather Clark, Blaser Morel, Nadine Bonard, Damian Buchs, Denise
Oliver Haugen, Stefanie Held, Andreï Iatsenia, Carina Burnet, Nancy Chazal, Raymonde Christmann,
Larsfälten, Johanna Liukkonen, Monica Lodygensky, Steve Crettenand, Irène Croisier-Rapin, Stéphanie
Satya Rajan, Kate Taylor, Valerie Weinzierl Danhier, Jean-Loup Denereaz, Laura de Wolf,
Maggie Fliege, Floriane Freymond, Yannick Fuentes,
Communications Malte Godbersen, Karine Guitton, Elly Hammar,
Michel Ogrizek, Head of Communications Nur Ibaoglu Zahnd, George Jacovides, Julianne
Mark Adams, Marie-Laure Burgener, Laura Deal, Jammers, Carine Kulloian, Georg Kumpera, Richard
Richard Evans, Claudia Gonzalez, Caroline Jehan, Lane, Madeleine Manusia, Martine Michaud, Annabell
Nina Joyce, Kamal Kimaoui, Matthias Lüfkens, Molnar, Sandor Nagy, Anouk Pache, Annemarie Peter,
Fon Mathuros, Laurent Sfumat, Fabienne Stassen, Petra Ruiz, Wouter Savrij Droste, Pascale Schibli,
Samantha Tonkin, Isabelle Tornare, Nancy Tranchet, Angela Scioscia, Christel Sutherland, Ursula Wehrli-
Yann Zopf Köpper, Sarah-Jane Zeller
Community Development Global Leaders & Special Groups
Peter Torreele, Senior Director Frédéric Sicre, Managing Director
Haiko Alfeld, Thomas Berglund, Helen Besson, Paula Verholen
Corine Blesi, Els Boekhoudt, Gunveena Chadha,
Young Global Leaders
Fabienne Chanavat, Daniel Davies, Natalia de la
Huerga, Meaza Essenberg, Anne Catherine Gay Fiona Paua, Assistant to the Executive Chairman
Des Combes, Serge Guex, Parvis Hanson, Daphne de Laleu, Martina Gmür, Rosanna
Catherine Henry, Felix Howald, Lee Howell, Mastrogiacomo, Catherine Vindret
www.weforum.org
Giuseppe Iorio, Julian Jaeger, Carmen Keller-
Schwab Foundation
Barretto, Béatrice Laenzlinger, Macha Levinson,
Pamela Mar, Colette Mathur, Amal Mbarki, Grant Pamela Hartigan, Managing Director
McKibbin, Sylvie Naville, Yutaka Okura, Lucien Solenn de Kersauson, Maria Hermoso, Christian
Rieben, Kifah Salameh, Uschi Trouilhet, Meyer, Mirjam Schoening
31

Sharing knowledge
An open and
connected
organization
Information technology and promotes the use of information and communications
knowledge management technology in the developing world to reduce poverty.
The World Economic Forum once again harnessed During the World Economic Forum in Jordan summit,
technology to strengthen internal processes, create held at the lowest point on Earth, we provided a
world-class summits and enhance communication wireless LAN installation and portable Tablet PCs to
between our communities and constituencies. allow participants to use the Internet. The same
technology was used to enable an online conversation
between students from internationally renowned
At the Annual Meeting we delivered innovative services
universities and King Abdullah II of Jordan.
based on state-of-the-art technology. For example, we
introduced a Cyber Network Centre, providing the
latest laptop technology for participants to access the Communications
Internet and our KnowledgeConcierge service. The Sharing insights and information, in support of
KnowledgeConcierge offered a ‘state-of-the-debate’ positive global action, is a core element of Forum
essay on nearly every session topic. activity. In 2003/2004, our communications team
worked to make our knowledge base even more
accessible to our members and other stakeholders.
Participants at the Annual Meeting also benefited from:
• Security passes containing a microprocessor and
antenna that communicated with the main computer The Forum’s commitment to transparency is
system and allowed access to personalized systems demonstrated by our practice of encouraging true
and sessions media participation in our activities. Around 250
• A total of 90 kiosks providing relevant Annual media leaders and senior journalists engaged in the
Meeting information and enabling participants to stay Annual Meeting, with many high-level editors
in touch with each other and outside contacts involved in our regional summits. These media
• An improved Davos Companion, a hand-held pocket participants included 35 of the world’s leading
PC, that was faster, thinner and lighter than the editorial cartoonists, who played a full part in summit
previous version. It allowed access to such discussions. This year, unprecedented media
information as the programme, the biographies of coverage further helped us to communicate our
participants, profiles of organizations, sign-up, e-mail mission. For example, renowned journalist and
via wireless networks and news-feeds anchorman Nik Gowing led live BBC World debates
from the European Economic Summit in Warsaw and
the Annual Meeting in Davos which reached half a
After the Annual Meeting, 425 Davos Companions
billion viewers. Media analysts, Media Tenor, showed
were donated to the Jordan Education Initiative.
that, overall, positive reporting of the Annual Meeting
Another 175 were presented to Bridges.org, which
32

Participants at the May World Economic Forum in Jordan, online at the Editorial teams in the Davos Broadcasting Village monitoring World
summit’s Internet café Economic Forum Annual Meeting debates
had doubled. We also tripled favourable reporting We strengthened our in-house publishing capacity,
of the European Economic Summit and received developing a dynamic publications strategy under
the best ever international coverage of The Global a new editorial director. Our brochure, The World
Competitiveness Report. Economic Forum: Entrepreneurship in the Global
Public Interest, was named the best institutional
Increased Web activity gave us access to a brochure in the UK’s prestigious Communicators in
broader, far flung audience. We increased traffic Business Awards 2004, ahead of competition from
on our website by 60%, including 1.6 million page 18 other major organizations.
views in January alone. We took part in online
collaborations with leading media organizations We continued our two-year relationship with
covering four continents: including the BBC, the opinion research company Gallup International. On
Wall Street Journal, the Financial Times, Le behalf of the Forum, Gallup surveyed 50,000
Monde, El Pais, the influential Latin American site people from more than 50 countries, representing
Portal Exame, leading Middle East online provider the opinions of more than 1.2 billion citizens.
Zawya, OhmyNews, which reaches 25 million Topics included the key themes of the Annual
Korean citizens, and India’s Rediff site. Meeting 2004: security and prosperity.
To allow participants and the wider public to Partnerships
debate freely on Forum activity, we were the first The World Economic Forum seeks partnerships
international organization to create a Web log. with like-minded institutions. It has NGO
Having provided a log at the European Economic consultative status with the Economic and
Summit and the Asia Strategic Insight Roundtable Social Council of the United Nations and works
in Korea, we now plan to extend its use and offer it closely with civil society organizations, think
in tandem with live Webcasts of meeting sessions tanks and foundations, such as: the Prince of
and opinion leader interviews. Wales International Business Leaders Forum,
the World Business Council for Sustainable
During the year, we opened direct communication Development, AccountAbility, SustainAbility,
channels with anti-globalization demonstrators at the UN Foundation, the International Finance
our summits in Poland and Korea. This approach Corporation, the Rockefeller Foundation, the
helped clarify misunderstandings about the Swiss Agency for Development and
www.weforum.org
international role of the Forum and facilitated the Co-operation, the Centre for International
course of non-violent demonstrations. Governance Innovation and the Bill and Melinda
Gates Foundation.
33

Our financial
results
In 2003/2004, we achieved strong financial Auditors
results, due in part to the impact of the new Global The World Economic Forum’s financial results
Institute for Partnership and Governance, which are audited by PricewaterhouseCoopers, who
exceeded expectations. We also received a examine the balance sheet and accounts.
significant boost as 80 new companies became The annual report, as well as all institutional
partners of the Forum. documents, are submitted to the Swiss Federal
Government, which in law acts as the supervisory
The continued evolution of the World Economic body for the Foundation.
Forum during the year left us in a strong position
to continue this financial trend. Forecasts for the
Global Institute for Partnership and Governance
remain positive and the initial impact of the newly
created Centre for Strategic Insight should also
be felt in 2004/2005. Total Income 1999-2004
figures in Swiss francs
Financial policy
The World Economic Forum’s financial policy
states that membership fees should cover
operational costs, that events are funded through
cost contributions and that projects are supported
by income from partnership contracts. The Forum
may accept grants, donations, legacies and other
contributions or subsidies that are consistent with
its purpose of ‘integrating leaders from business,
politics and society at large into a community for
global action committed to improving the state of
the world and the well-being and prosperity of
63,806,052
61,100,642
72,195,453
66,454,727
74,058,911
human society’.
The World Economic Forum makes no payments to
political personalities, parties or other organizations 1999/ 2000/ 2001/ 2002/ 2003/
and avoids involvement in national politics. 2000 2001 2002 2003 2004
34

Key figures
Financial year 1999/2000 2000/2001 2001/2002 2002/2003 2003/2004
Total income* 61,100,642 63,806,052 72,195,453 66,454,727 74,058,911
out of which
members’ fees 22,106,920 23,588,125 24,965,367 25,530,325 25,137,257
participation fees 26,972,981 21,465,398 20,543,108
partnership 18,946,940 17,390,452 24,552,385
Total expenditure 59,416,135 63,556,294 69,077,008 66,454,522 72,307,790
out of which
personnel costs 27,097,659 26,584,768 29,620,236
office costs 10,642,445 8,360,352 9,044,738
activity-related costs 31,336,904 31,509,401 33,642,815
Surplus to be
added to the
Foundation capital 1,684,507 249,759 3,118,445 205 1,751,121
Foundation capital 8,746,549 8,996,308 12,114,753 12,114,958 13,866,079
Total staff
Full time 81 125 139 130 134
out of which are seconded
by Forum members 4 4 5
Part time 22 22 28 28 28
* all key figures in Swiss francs
www.weforum.org
35

Our mission
and values
The World Economic Forum is the foremost global The World Economic Forum enjoys unique global
community of business, political, intellectual and positioning by recognizing and responding to two
other leaders of society committed to improving the new developments:
state of the world.
• The world’s key challenges cannot be met by
Our mission is best realized through activities governments, business or civil society alone
which promote economic and social development. • In a world characterized by complexity, fragility
We believe that economic progress without social and ever-greater synchronicity, strategic insights
development is not sustainable, while social cannot be passively acquired. They are best
development without economic progress is not developed through continuous interaction with
feasible. Our motto is thus ‘entrepreneurship in peers and with the most knowledgeable people
the global public interest’. in the field (learning communities)
In addition to convening world leaders, the Forum is
committed to involving them in living communities of
common interest and purpose. The Forum ensures
substance in the form of strategic insights and, where
relevant, platforms for joint action. To carry out its
mission, the World Economic Forum has developed
an integrated value chain by involving world leaders
in communities, inspiring them with strategic insights
and enabling them through initiatives.
Our vision for the World Economic Forum is threefold.
To be:
• The foremost organization which builds and
energizes leading global communities
• The creative force shaping global, regional and
industry strategies for its communities
• The catalyst of choice for its communities when
undertaking global initiatives to improve the state
of the world
36

Quincy Jones, Chairman and CEO, The Quincy Jones Listen Up Foundation, USA, at the
Annual Meeting 2004.
37

Designed and edited by Wardour Communications
Contact details:
World Economic Forum
91-93 route de la Capite
CH-1223 Cologny/Geneva
Switzerland
Telephone +41 (0)22 869 1212
Fax +41 (0)22 786 2744
e-mail: contact@weforum.org
www.weforum.org