Washington DC
Washington DC
A regular year would see a plethora of international gatherings that host high-level officials, policy makers, community leaders and activists, investors and business leaders. G20, B20, G7, World Economic Forum, New Economic Forum, specific
country-based investment forums, such as St. Petersburg Economic Forum and China Investment Forum, Annual Meetings of International Organizations and UN General Assembly – this is not an exhaustive list but captures the main events. These
events provide an ample opportunity for exchange and coordination, identifying similarities and disagreements, as such they are an integral part of the way the world operates.
There is nothing regular about 2020. The pandemic
and geopolitical tensions continue to affect all the countries around the world making business as usual an impossible modus operandi.
January 2021 will bring not only a new year and new hopes to millions, it will also mark
a renewed administration of the strongest country in the World. To celebrate this, we will be hosting an inagural
Washington Forum that will take place during 3 days on January 19, 20, 21, 2021 in Washington, DC, USA The Washington Forum is designed as a forward leaning and action-oriented event that will focus on moving the agenda on selected
globally important topics. Forward leaning means the forum will put an emphasis on areas that need accelerated development to build a more inclusive and sustainable local and global economy. Action focused means the forum will ensure
that participants commit to certain actions. Special attention will be given to doing business in the United Stated, as the driver of innovation, host to disruptive technologies, and largest financier of global cross-border investments
and international organizations. Needless to say, the World requires a forward leaning and action focused conversation to come out of the COVID-19 crisis to find pathways to rebuilding the most affected economies.
DC is home to the
Bretton Woods Institutions (IMF and World Bank Group), other international organizations, such as Inter-American Development Bank, globally known think-tanks, such as Brookings and Wilson Center, and one the world’s strongest business
associations – American Chamber of Commerce. The event aims to bring together a small number of top decision makers in business and in government. The meetings are comprised of 5 discussions in each of the 3 days, with 50 participants
per meeting. Larger audiences will be connected via videoconferencing.
It is widely recognized that the world will not make meaningful progress toward a more equitable, fair, and sustainable economy without the private sector’s financing and ingenuity. This topic is not new, it has been emphasized by UN discussions
over the years, in the context of Financing 2030 Agenda; this idea has been incorporated into international organization’s strategies. The private sector response to this challenge has taken the form of ESG Investments, Impact Investments,
Responsible Investing, etc. Philanthropies have been growing their presence in the field, led by the Gates Foundation. Special market instruments have been kicked off – green bonds, social bonds, development bonds, etc. The challenge of
improving the way economy works for everyone has only compounded with the pandemics demanding acceleration of solutions. Some governments added features to COVID-related stimulus packages to ensure sustainable action. Large private financial
companies have set up Impact or Sustainable Investment Units. Nevertheless, the efforts predating the pandemic and ongoing efforts have not come near to the scale where they can truly make a difference.
It is not possible to address
all issues of this nature in one place in one given time period. Many parts of this agenda are being moved forward in various places and platforms. What is possible – taking practical steps that are forward leaning and action focused in
some key areas that address key bottlenecks. This is what the Forum will set out to do, trying to find practical solutions that break specific barriers or pave the way for a specific precedent-setting action to set the trend.
The ultimate objective is simple – commit to channel more funding – considerably more funding – towards investing with purpose. Preferably, making specific commitments during the sessions. There are multitude of technical, legal, operational,
and policy issues that are involved in constraining the scaleup of investing with purpose. The Forum will address the higher level set of issues – perception of investing with purpose being a special investment that pursues social goals
and does not focus on returns; and the evolving legal framework when it comes to understating of fiduciary duty in the modern world. The Forum will also show case what have been the best examples of good investments.
The
focus of the Forum will be on enabling investments into transforming the segments of economy using digital and industrial technologies that can generate commercial returns similar to what one would expect in disruptive investments but
also generate significant financial and economic value. Specific topics may include: FinTech, HealthTech, GovTech, EdTech, Sustainable Plastics, Sustainable Tourism and Small Island States. Special focus will be given to the Role of Regulators in Defining the Fiduciary Function.
While Day 1 will deal with enabling more action into economic verticals (sectors such as health or education of banking), Day 2 will evolve around special challenges. The face of globalization as we experienced in the last 30 years is inevitably
changing. The response to COVID-19 includes calls for localizing certain industries, for example travel and tourism are expected to scale back. The concern over our environmental footprint was mounting well before COVID-19, this pandemic
will only accelerate the sentiments for ‘buy local’ and ‘work from home’, pushing for community-centered lifestyles. The demand for office space and shopping space could drop significantly going further. The demand for digital connectivity
has and will be compounded. The Forum will discuss specific ways these transformations can be accelerated through policy action and channeling public and private investments.
Specific topics may include new approaches to real estate development and city planning, integration of SMEs into virtual / digital value chains, internet taxation and impact on local governments, closing digital connectivity gap in Africa.
The United States is still the best pace in the world to invest. It has unmatched business environment, large consumer market, best in the world R&D, strong technical education and ability to commercialize the innovation. Still, there
are parts of the country which have lost their economic engine and those populations have been left behind compared to their counterparts that have benefited from industrial and technological advancements and global trade. The Forum will
identify and showcase opportunities for investment in the USA, in partnership with federal and local governments focusing on areas that can generate benefits and create local jobs, but also that can develop new products and services that
would benefit the global development agenda. Specific topics may include material recycling and circular economy and vegetable-based diets and value-added agriculture.
“Soccer USA” will be a special topic in
the context of World Cup’26, including addressing institutional and systemic issues that could create new opportunities for investing into USA Soccer and associated infrastructure.