Davos 2024: IMC’s Role in Promoting Sustainable Development
Published by Bruno L’ecuyer FIMC, Co-Founder & Chief Executive of the Investment Migration Council
At the pinnacle of global events, the World Economic Forum (WEF) stands out for its unparalleled visibility and influence. Recognised for its political clout, the WEF offers a unique platform for interaction among entrepreneurs, decision-makers, leaders, and experts. Within this dynamic space, ideas are exchanged, laying the groundwork for transformative solutions to address the world’s most pressing challenges. The seeds of inspiration planted at Davos have the potential to blossom into innovative strategies that reshape our global landscape.
As the Chief Executive of the Investment Migration Council (IMC), I had the distinct honour of representing our organisation at this year’s prestigious WEF meeting. Renowned for its unparalleled influence and global reach, this event provides a unique platform for leaders, decision-makers, and experts to convene and address the world’s most pressing issues.
I was privileged to receive an invitation from the Climate Vulnerable Forum (CVF) and Vulnerable Twenty Group (V20) Leaders’ Investment Roundtable, held on the sidelines of the WEF Annual Meeting. This roundtable, attended by heads of state and influential high-net-worth individuals, focused on exploring innovative private financing solutions to address climate risks and promote green transition opportunities.
Ghana currently chairs CVF-V20, with Barbados taking on this role shortly. The alliance is known for integrating the 1.5°C goal of the Paris Agreement and for promoting climate action, sustainability, and prosperity through investment and economic cooperation partnerships.
The CVF + V20 membership comprises 68 developing countries most threatened by the global climate emergency, representing 1.74 billion people and USD 3.8 trillion in gross domestic product.
During my participation at the Climate Vulnerability Forum, I emphasised the crucial role of investment migration in supporting vulnerable economies. Investment Migration (IM), when properly regulated and managed by certified professionals, can provide much-needed financial resources to countries facing economic vulnerabilities exacerbated by climate change.
The CVF + V20 theme aligns seamlessly with the IMC’s commitment to the aims and mission cherished by the Economic and Social Council of the United Nations (ECOSOC), where the IMC has held a Special Consultative Status since 2019.
Davos provides a platform for smaller and economically unstable nations to have a voice, especially those affected by climate change. Despite their limited resources and isolation, such nations can play a significant role in global transformation. Well-regulated and managed by recognised IM-trained professionals, investment migration can help them fulfil their commitments to achieving the United Nations’ Sustainable Development Goals (SDGs), bridging the gap between their financial needs and available liquidity. Just as Davos, despite its small size, has historically sparked global movements for change, small nations can also contribute significantly to the global community.
Nestled in the serene Swiss mountains, Davos has consistently demonstrated that impactful change can originate from seemingly modest beginnings. Despite its small size and remote location, Davos has been a catalyst for global dialogue, drawing leaders from diverse sectors to address political, social, and economic challenges, making it a pivotal forum for shaping the world’s future.
The theme chosen for the 2024 World Economic Forum conference was “Rebuilding Trust,” resonating with the Behavioural Science Executive Education Workshop organised by IMC’s educational arm (IMCET) in Vienna, coincidentally just a few weeks before the Davos meeting. IMC members from various countries attended this training event, primarily focused on building trust, perfectly complementing the theme of Davos and creating a meaningful connection between the two events.
Davos underscored the growing significance of artificial intelligence (AI), and at the IMC, we recognise the immense potential of harnessing AI for applicant screening and due diligence in investment migration processes.
The imperative to rebuild trust was a central theme at Davos 2024, acknowledging the heightened global division and conflicts. The interconnection of economic revitalisation, climate change, and responsible AI use underscores the need for holistic and collaborative solutions.
During my networking at Davos, I had the opportunity to meet several attendees, including fellow IMC members. We discussed how investment migration can provide solutions, particularly for countries with vulnerable economies, and create debt-free capital injection opportunities.
Investment Migration is a financial lifeline for many states. Citizenship or Residency programmes contribute significantly to the GDP of several countries. While recognised by the International Monetary Fund (IMF), these programmes empower developing countries, particularly smaller ones, to fund key government activities in line with UN Sustainable Development Goals.
As Davos 2024 offered a glimpse into the future, the anticipation for Davos 2025 holds the promise of an even more significant opportunity for the IMC and its members to make their voices heard on Investment migration as a global force for good in this world.
IMC is committed to shaping the future of investment migration through education, improved regulation and harmonised due diligence. We will continue to work to build trust, promote international cooperation, and contribute to global progress. At IMC, we envision a future where investment migration is embraced as a catalyst for growth.
Looking ahead, the IMC anticipates Davos 2025 as a pivotal moment to elevate its influence further and contribute to positive global transformation.
