Geneva, Switzerland, 8 January 2024 – The World Economic Forum (WEF) unveiled its inaugural Global Cooperation Barometer, developed in collaboration with McKinsey & Company, shedding light on the dynamics of global cooperation over the past decade. The barometer, utilizing 42 indicators, measures five crucial pillars: trade and capital, innovation and technology, climate and natural capital, health and wellness, and peace and security.
The report indicates that global cooperation exhibited resilience across multiple dimensions from 2012 to 2020. However, a noticeable decline of 2% in overall cooperation was observed from 2020 to 2022. Despite challenges, there are signs of strength in specific areas, such as climate and natural capital, trade and capital flows, and innovation and technology.
The data reveals a nuanced picture of global collaboration. Cooperation in trade and capital, innovation and technology, and climate and natural capital exhibited robustness during the years assessed. Nevertheless, challenges emerged in health and wellness and peace and security, with reversals in global health cooperation and an increase in violent conflicts.
Børge Brende, President of the World Economic Forum, highlighted, “The greatest challenges and the most promising opportunities for our planet, societies, and economies are not bound by borders, which means the only way to address them is through cooperation.” He emphasized that the barometer demonstrates the possibility of cooperation even amid competition and confrontation.
Bob Sternfels, Global Managing Partner of McKinsey & Company, commented, “The barometer shows that when you look at the full picture, global cooperation has remained surprisingly robust over the last decade.” Sternfels emphasized progress in collaboration across multiple areas, expressing optimism about climate and nature and breakthroughs in global contributions to innovation.
The accompanying report offers recommendations for business and government leaders. Suggestions include deepening public-private partnerships in critical areas, practicing “coopetition,” and using instances of cooperation to deepen trust and explore further alignment.
The Global Cooperation Barometer release coincides with a year marked by record-breaking temperatures and escalating global conflicts. However, the report also acknowledges progress in climate action, trade agreements, and innovation.
The World Economic Forum’s Annual Meeting 2024, themed “Rebuilding Trust,” gathers global leaders to address these pressing challenges. Leaders are urged to reimagine cooperation and find common ground, fostering resilient cooperative arrangements that can withstand disruptions and contribute to a more interconnected global landscape.
For more information on the Global Cooperation Barometer and to access the accompanying report, visit www.weforum.org.