Tuesday, July 5

Davos day 4: Vitali Klitschko and Olaf Scholz to speak – live updates | Business

A leading Ukrainian climate scientist has called for the cities attacked in the Russian war to be rebuilt in a climate-neutral way.

Dr Svitlana Krakovska, head of the Ukrainian delegation to the Intergovernmental Panel on Climate Change (IPCC), believes the reconstruction of cities bombed in the invasion can be an example to the rest of Europe.

Speaking yesterday at a panel session here in Davos organized by the Arctic Base Camp group of climate scientists, Dr Krakovska said:

We have a big disaster in our country, we have so many people killed, our cities destroyed.

But these destroyed cities are our opportunity, to rebuild them in a climate-resilient way.

To do this we will need the support of all the international community, financial support and technology support as well.

So we are looking forward to having Ukraine as a role model for Europe.

Dr Krakovska received a medal from president Zelenskiy last year for her work on rising global temperatures, including visiting the Antarctic to monitor the impact of climate change there.

She says Zelenskiy supported the work her team were doing — which has been disrupted by the war.

Earlier this week, Zelenskiy called for leaders at Davos to help fund the reconstruction of Ukraine, which could cost more than $500bn.

Citing cities such as Bucha and Mariopol which have suffered devastating damage, Dr Krakovska says:

We dream about rebuilding them in this way, and to be a model for climate neutrality.

Dr Krakovska tells me that before the war, Ukraine had energy cooperatives, which used solar panels to diversify from other sources.

We started to diversify our sources of energy once we started being blackmailed by Russia.

One notable example is Slavutychthe city created for people evacuated after the Chernobyl nuclear disaster, where solar panels were deployed on administrative buildings to reduce their dependence on other sources of energy.

Introduction: Klitschko and Scholz to speak

Good morning from Davos, where it’s the final day of the World Economic Forum.

A notably downbeat Davos will wrap up today, hearing from vitaly Klitschkogreater than Kyivon how to rebuild the Ukrainian capital after the war, and what aid will be needed.

Last night, Ukraine’s Minister for the Economy, Yulia Svyrydenko, called for more international support:

“The military may win battles, but the economy plays the key role in winning the war. That is why it is so important to have support from economic partners.”

WEF delegates (who haven’t already decamped from the ski resort, anyway) will finally hear from a G7 leader, when Olaf ScholzChancellor of Germany, gives the final keynote address, to an edgy and uncertain WEF.

Recession risks, the unwinding of globalisation, geopolitical tensions and the Ukraine war have all led to the deeply sombre mood here.

As the historian Adam Tooze said:

“The war dominates everything. The nuclear escalation risk is not being priced in.

This doesn’t feel like cold war. It’s hard to think of a time during the cold war when the US openly announced its policy was to eliminate the capacity of Russia to take independent military action.”

Similar sentiments were expressed by a senior policymaker who pointed out that a global pandemic had been unthinkable in early 2020, a near-coup in Washington incited by Donald Trump had been unthinkable in January 2021 and a war between Russia and Ukraine had been unthinkable at the start of 2022.

“Why should we think the unthinkable ended with the start of the war?”

We’ll also be tracking panel sessions on important issues such as how to help refugees find jobs, the risks facing the global economy, and also the metaverse.


  • 9am Davos (8am BST): Kyiv after the Onslaught, with Ukrainian major Vitaliy Klitschko
  • 9am Davos (8am BST): The Future of Global Cooperation, a panel session with Mark Leonard, director of the European Council on Foreign Relations (ECFR), Ilona Szabó de Carvalho, president, Igarape Institute, Kyung-Won Na, Special Envoy of the President of the Republic of Korea, Silvia Anna Ainio, curator of Brussels Hub, Lance Pierce, CEO of NetHope
  • 9am Davos (8am BST): The Possibilities of the Metaverse
  • 9.15am Davos (8.15am BST): Integrating Refugees into Labor Markets – a panel session with Heba Aly, CEO The New Humanitarian, Jesper Brodin, CEO of IKEA, Nicolas Schmit, European Commissioner for Jobs and Social Rights, Valérie Beaulieu, chief sales and marketing officer at Adecco, Ebru Özdemir chair of Limak Holding
  • 10.15am Davos (9.15am BST): A Conversation with Hossein Amir-Abdollahian, Minister of Foreign Affairs of Iran
  • 10.30am Davos (9.30am BST): The Global Jobs Outlooka panel session with Hisayuki Idekoba, CEO of Recruit Holdings, Aiman ​​Ezzat, CEO Capgemini, Nicolas Schmit, European Commissioner for Jobs and Social Rights, European Commission, Zainab Shamsuna Ahmed, Minister of Finance of Nigeria
  • 10.45am Davos (9.45am BST): Global Risks in an Era of Turbulence, a panel session with Maria Fujihara, CEO of SINAI Technologies, Klaus P. Regling, Managing Director of the European Stability Mechanism, Sir Lawrence Freedman, Emeritus Professor of War Studies at King’s College London, Helen E. Clark, chair of WHO’s Partnership for Maternal, Newborn & Child Health, and Tengku Zafrul Bin Tengku Abdul Aziz, Malaysia’s Minister of Finance
  • 11am Davos (10am BST): Special Address by Olaf Scholz, Federal Chancellor of Germany


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