From 10 offices around the globe, our approximately 1,000 lawyers provide seamless, best-in-class service on our clients’ most significant matters. Lastly, companies are also encouraged to go beyond the common standards and disclose more tailored industry- or sector-specific information. It aims to shed light on the pandemic-related disruptions in 2020, contextualized within a longer history of economic cycles and the expected outlook for technology adoption, jobs and skills in the next five years. The Report organizes the metrics along four sustainability pillars: Principles of Governance, Planet, People and Prosperity, which align with the United Nations Sustainable Development Goals, known as SDGs, as we have described more fully here using the core metrics. Council of Europe, Draft report on fostering social mobility as a contribution to social cohesion, CDCS (4), 2011. In 2020, the risk of a global pandemic became reality, and the World Economic Forum (WEF) report has been warning the world about it since 2006. According to the WEF, 120 IBC members have shown strong support for the IBC metrics, with some expected to start incorporating them in their corporate reports immediately. The Future of Jobs report maps the jobs and skills of the future, tracking the pace of change. In the latest HDI report, 2020 India is on 129th rank. At its meeting in January 2021, the IBC is scheduled to discuss a timeline for broader adoption. Preparing for the “Now Normal”: WEF Publishes Future of Jobs Report 2020 Simran Oberoi October 23, 2020 Hybrid working models, employee listening, inspirational resilience, and job redesign will define the now normal, per speakers at a virtual event by the World Economic Forum (WEF) and the WEF Future of Jobs Report 2020. This series of webinars promotes direct learning and exchange among the Focal Points, enabling them to share experience and accelerate human capital outcomes. Washington, DC 20433 USA. #DeloitteESGNow — Human Capital Measures Up (November 3, 2020) Show contents . The HCP aims to protect and invest in people. # JobsReset The Future of Jobs Report 2020 maps the jobs and skills of the future, tracking the pace of change and direction of travel. Completed by nearly 9,000 respondents in 119 countries, Deloitte’s 10th annual Global Human Capital Trends report is the largest longitudinal survey of its kind and marks a decade of investigating and understanding how humans can continue to find meaning in work. La Finlande est le pays qui exploite le mieux les ressources humaines, selon un rapport sur le capital humain publié mercredi par le World Economic Forum (WEF, Forum économique mondial). As a result, anything that undermines the best allocation of talent and impedes the accumulation of human capital may significantly hamper growth. The report is available from the World Economic Forum website. As of September 2020, the HCP counts 78 countries as part of its network of committed governments who have expressed interest to invest in human capital at the highest levels. With a score of 84.8 (+1.3), Singapore is the world’s most competitive economy in 2019, overtaking the United States, which falls to second place. COVID-19 is taking a tremendous toll on lives and economies. To thrive in an environment that can shift from moment to moment, organizations must become distinctly human at the core. Learn more by clicking on the topics below. 14. There are 189 countries participated in this ranking. The Index was first published in October 2018 and ranked 157 countries. May 19, 2015 September 27, 2015 2 min read admin. The World Economic Forum has released a special edition of its renowned Global Competitiveness Report to measure how prepared countries are to rebound from the Covid-induced economic slowdown. As a result, anything that undermines the best allocation of talent and impedes the accumulation of human capital may significantly hamper growth. In August 2020 the WEF, in collaboration with Wills Towers Watson, published a framework in a report titled “Human Capital as an Asset: An Accounting Framework for the New World of Work” to assist companies in measuring and accounting for their workforces, including in the wake of COVID-19. HCM Framework. The Human Capital Index is a report prepared by the World Bank. The HCP Network now has 78 countries on board and works to support and connect policy makers as they share experiences and best practices, including during the COVID-19 (coronavirus) pandemic, which is a threat to hard-won human capital gains. Heads Up | Volume 27, Issue 24 . There are no further details provided to what asset classes or individual names the WEF allocates its financial assets of SFr 261 million. The HCI provides a new definition of human capital and quantifies the contribution of health and education to the productivity of the next generation of workers. Access a curated list of reports and briefs here. A global view of country achievements, COVID-19 response, and WBG support. Globally, comprehensive measurement sheds light on the differences between countries, and spurs demand for investments in human capital. 16. In addition, a number of “Human Capital Champions”—world leaders, thought leaders, celebrities, and others—have signed on to advocate for the next generation. Human capital is increasingly important in the new world of work. Prior results do not guarantee a similar outcome. Contents 1 Preface 2 Executive summary 2.1 Results overview 3 Latin America and Caribbean Travel & Tourism Competitiveness Index (TTCI) 2019 Overall Rankings 4 About the Latin America and Caribbean Travel & Tourism Competitiveness Landscape Report 4.1 The TTCI 4.2 Data and methodology 4.3 Country coverage 5 Competitiveness landscape 5.1 Global … In a separate initiative that will complement the IBC standards, the WEF joined the Impact Management Project and Deloitte in facilitating a joint statement issued in September 2020 and expressing the intent among five leading independent global framework and standard-setters—GRI, CDP, Climate Disclosure Standards Board (CDSB), International Integrated Reporting Council (IIRC) and Sustainability Accounting Standards Board (SASB)—in creating a comprehensive corporate reporting system, which we previously discussed. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests. The Report defines ‘human capital’ as the knowledge and skills people possess that enable them to create value in the global economic system. In this 90-minute event, government leaders, NGO partners, and innovators delivered showcased policy actions and both public and private sector-led responses to address COVID-19 impacts on human capital. Visit davispolk.com, World Economic Forum Releases ESG Reporting Metrics and Disclosure Standards, Katherine J. Brennan, Marsh & McLennan Companies, Connor Kuratek, Marsh & McLennan Companies, Davis Polk's Corporate Governance Practice. The report measures 130 countries against four key areas of human capital development; Capacity (determined by past investment in formal education), Deployment (accumulation of skills through work), Development (continued upskilling and reskilling of existing workers) and Know-how (specialised skills-use at work). It is found that machines … In August 2020 the WEF, in collaboration with Wills Towers Watson, published a framework in a report titled “Human Capital as an Asset: An Accounting Framework for the New World of Work” to assist companies in measuring and accounting for their workforces, including in the wake of COVID-19. INSIGHT REPORT JULY 2020. The live sessions are restricted to participation by the focal points, but afterward, the recordings are shared as a public good. Global Gender Gap Report by WEF. As of January 2021, the HCP has 79 countries participating and takes action in three distinct areas. The Global Gender Gap Report 2020 provides a comprehensive overview of the current state of the global gender gap and of efforts and insights to close it. Credible measurement of education and health outcomes is critical locally, nationally, and globally. The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. 1818 H Street, N.W. Explanation: The first Global Gender Gap Report was published in 2006 by the World Economic Forum. In April 2019, we launched the Africa Human Capital Plan. Development of Comprehensive Reporting System. While the COVID-19 pandemic has increased our focus on… The index offers a benchmarking tool to track progress and to reveal best practices across countries and subjects. The report called the human … On September 22, 2020, the World Economic Forum (WEF), through its International Business Council (IBC), recommended common standards to aid all companies around the globe, regardless of industry, in their sustainable value creation. Visit the WBG Databank to see the online HCI database, the HCI World Development Indicator interface, or to find additional metadata. Davis Polk & Wardwell LLP (including its associated entities) is an elite global law firm with top-flight practices across the board. In addition, investors desire standardization of non-financial information, resulting in data consistency and comparability. The HCI 2020 also references the socioeconomically-disaggregated Human Capital Index (SES-HCI). For purposes of this regime, “material” information is defined as “important, relevant and/or crucial to long-term value creation” and not as a legal or regulatory standard. The WEF said countries like Singapore, which are digitally advanced, are well placed to manage the impact of Covid-19, in a report released on Dec 16, 2020. The Global Gender Gap Report 2020 provides a comprehensive overview of the current state of the global gender gap and of efforts and insights to close it. 15. According to the IBC, these are the more critically important and established metrics, which are primarily quantitative and already being reported by many firms or can be obtained with reasonable effort. ... of the World Economic Forum (WEF), which is facilitated by the Big Four firms. Embedding human principles into the nature of work--principles such as purpose and meaning, growth and passion, and collaboration and relationships--enables the social enterprise to continually reinvent itself on the back of perpetual disruption. World Economic Forum: Human Capital Report 2017, ranked 18 out of 130 World Economic Forum: Inclusive Development Index 2018, [10] ranked 31 out of 103 countries World Bank : Ease of doing business index 2020, [11] (2019 rankings), ranked 35 out of 190 countries According to the Global Gender Gap Report 2020, based on current trends it will take another 99.5 years to attain equality between men and women in every sphere: work, the economy, family, education, and health. The World Economic Forum has been measuring and reporting on gender inequality since 2006 and it is taking far too long to close the gender gap. 2020 Global Human Capital Trends Report Since 2010, Human Capital Trends tracks the thinking and actions of leading organizations. In March 2020, the government released a diagnostic report based on the findings of the Presidential Commission on the Fourth Industrial Revolution. During the course of the Project, 21 core metrics, or Stakeholder Capitalism Metrics, were identified. Human Capital Project : Year 2 Progress Report (October 15, 2020) Human capital is central to the World Bank Group’s efforts to end extreme poverty by 2030 and raise the incomes of the bottom 40 percent of people in each country. We must come together as never before – to protect hard-won gains in human capital. This report, a collaboration between Willis Towers Watson and the World Economic Forum, seeks to provide such a framework. Provisional metrics were previously released at the January 2020 meeting in Davos-Klosters in a consultation draft titled “Towards Common Metrics and Consistent Reporting of Sustainable Value Creation.” The Report was the culmination of over a year’s work, reflecting assistance from the WEF, collaboration with the Big Four, and consultations with companies (including non-IBC members), investors, standard-setters, non-governmental organizations (NGOs) and international organizations. Check out the updated 2020 Human Capital Index, our videos, visualizations, frequently-asked-questions, and more. The 34 expanded metrics and disclosures include topics such as alignment of strategy and policies to lobbying and Paris-aligned greenhouse gas (GHG) emissions targets. Attorney Advertising. To thrive in an environment that can shift from moment to moment, organizations must become distinctly human at the core. The World Economic Forum (WEF), based in Cologny, Geneva Canton, Switzerland, is an international NGO, founded on 24 January 1971.The WEF's mission is stated as "committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas". The WEF said countries like Singapore, which are digitally advanced, are well placed to manage the impact of Covid-19, in a report released on Dec 16, 2020. You too can help those around the world to #InvestinPeople. Given the challenges companies face, such as climate change, workforce issues, the COVID-19 pandemic and societal expectations, the Report states that companies need to strengthen their resilience and ability to operate. This year’s edition of The World Economic Forum’s Future of Jobs Report 2020 maps the jobs and skills of the future and tracks “the pace of change based on surveys of business leaders and human resource strategists from around the world.” The IBC standards have been highly anticipated by some market participants because they offer a company-led, universal and consistent approach to reporting environmental, social and governance (ESG)-related information in a standards landscape that is highly fractured. Global Information Technology Report by WEF. Send us an email at humancapital@worldbank.org. When a company considers an IBC-recommended standard immaterial, the Report suggests that a company provide an explanation. The Project in Context. To see additional results from Deloitte’s “2020 Global Human Capital Trends” report, download a copy. The Global Competitiveness Report series has since its first edition aimed to prompt policy-makers beyond short term growth and to aim for long-run prosperity. Nonetheless, the Report recognizes that companies may still be subject to reporting requirements (including another standard for materiality) depending on regional regulations or expectations. This is a major problem not only for the individual, but also society and the economy. Hybrid working models, employee listening, inspirational resilience, and job redesign will define the now normal, per speakers at a virtual event by the World Economic Forum (WEF) and the WEF Future of Jobs Report 2020. Human Capital Report by WEF. World Development Report, 2020 by World Bank. CII explains that investors desire material information including sector- or industry-related information and support disclosures made with third-party assurances. The Project deliberately drew metrics from existing standards such as the Global Reporting Initiative (GRI) to enable accelerated adoption. Long-term human capital investment and planning is not just crucial at the individual country level, but increasingly demands political leadership at the highest international level to move beyond zero-sum competition and prepare the world’s workforce for the challenges of the 21st century. It describes itself as an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Building Human Capital: Lessons from Country Experiences is a series of case studies commissioned by the Human Capital Project team to examine the development trajectories of selected countries that have prioritized investments in key human capital outcomes. The report identifies eleven priorities for policy makers who want to drive this transformation. 17. The priorities cover different topics from the environment to human capital and innovation ecosystems. We host the following related webpages: About, Case Studies, Country Knowledge Exchanges, Key Reports, and Frequently Asked Questions. Theme: “Trading for Development in Age of Global … The index offers a benchmarking tool to track progress and to reveal best practices across countries and subjects. It documents new evidence on trends over time in the HCI, examples of success, and new analytical work on utilization of human capital, as well as a primer on the COVID-19 (coronavirus) pandemic and its potential impact on human capital. 16. The commission has identified various key focus areas to revolutionise to meet the 4IR: energy, water, mining, manufacturing, agriculture, financial services and public administration. For the past 12 years, the World Economic Forum’s Global Competitiveness Report has ranked companies based on their ability to provide high levels of prosperity to their citizens. With the SEC presumably about to adopt enhanced disclosure requirements for human capital next week (see this PubCo post), this new report from the World Economic Forum in Davos, prepared in collaboration with consultant Willis Towers Watson, offers a timely new framework for valuing human capital. The framework outlines how companies can transition to valuing talent as an asset rather than an as expense. The World Economic Forum is an independent global organization that engages leaders of business, politics, academia and society to improve the state of the world. A number of jobs have been identified as most at-risk of “disappearing” over the next five years largely because of automation. It is an important component of the Forum's HR 4.0 initiative, an [Brief | Data]. The 21 core metrics, which focus primarily on activities within an entity’s own boundaries, include governance body composition and material issues impacting stakeholders and implementation of the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations. The index measures how much capital each country loses through lack of education and health. Methodology Since 2010, Human Capital Trends tracks the thinking and actions of leading organizations, representing some of North America’s largest and most influential organizations. In August 2020 the WEF, in collaboration with Wills Towers Watson, published a framework in a report titled “Human Capital as an Asset: An Accounting Framework for the New World of Work” to assist companies in measuring and accounting for their … WEF Human Capital Report highlights need for massive increase in funding for public education 13 September 2017 World Economic Forum’s Human Capital Report demonstrates the need for a massive increase in funding for public education to close the growing gap between rich and poor and build a workforce that is fit for the future. Currently some market participants wonder whether the IBC’s initiative will spur progress like the ones that preceded the global acceptance of the accounting standards. St. Vincent and the Grenadines To date, there is still a 31.4% average gender gap that remains to be closed globally. Human capital is the driving force of economic growth. The 2020 report’s findings are: Globally, the average (population-weighted) distance completed to parity is at 68.6%, which is a further improvement since last edition. Download 2-page briefs that put HCI country data in perspective with complementary indicators, and specialized Excel files that include detailed HCI data, sources, and methods. How are countries investing in people? Human Capital Index 2020: India ranks 116 in World Bank’s latest annual report Last year, India had ranked 115 among 157 countries. Importantly, Project participants hope that an accelerated global adoption will impress, and perhaps influence, regulators, standard-setters, rating agencies and others on the metrics and disclosures the business community believes are important. This entry was posted in Economics & Statistics and tagged Financial capital , Human capital , Intellectual capital , Talent , WEF , Willis Towers Watson , World Economic Forum on 02/09/2020 by IESE Library . The HCP will help countries tackle the worst barriers to peoples' development, using a “whole of government” approach. The 2020 special edition is dedicated to elaborating on the priorities for recovery and revival, and considering the building blocks of a transformation towards new economic systems that combine “productivity”, “people” and “planet” … Welcome to the Human Capital Project (HCP), a global effort to accelerate more and better investments in people for greater equity and economic growth. This report presents an update to the Human Capital Index (HCI), using the most recent health and education data available as of 2020. Four Pillars. These files are available for 174 countries that had sufficient data to calculate an HCI value in September 2020. 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