“Energy” alone is "for survival" but “energy with collaboration” is “for growth”

It was a special moment for me to have attended the World Economic Forum 's Special Meeting on Global Collaboration, Growth and Energy for Development?last week in Riyadh, Saudi Arabia.? I was especially honored to be there as a member of the Global Future Council on the Future of Energy Transition, a key think tank set up by the WEF that aims to address the critical question: tailoring approaches to energy transition while balancing affordability, security, and sustainability. All these and then some more were discussed at the Riyadh meeting. Indeed, energy is the foundation that everyone needs to create growth; however, to make that growth last, collaboration is crucial, and now, the big question is no longer what to collaborate about but "how to collaborate?" This, I think, is the most important main takeaway from the event, and if you'd allow me, I wanted to share with you some more insights I thought were important for every business leader in this decade of change.?

The first central pillar of the meeting was "Revitalizing Global Collaboration." Though this theme seems to embody everything collaboration, as I mentioned, collaboration as a concept was interspersed throughout the entire event. What "Revitalizing Global Collaboration" focused on, instead, was more on formal collaborations between state and state and state and the private sector. With two conflicts, worst-in-decades African droughts, and widening North-South (rich vs. developing countries) gap, talks were on rebuilding international trusts, fostering Public-Private Partnerships (PPPs) to tackle challenges, and building collaborative frameworks. Various panels under this pillar stated that transnational initiatives to develop early warning systems for natural disasters and joint research projects on sustainable food production could be the key moving forward. The main takeaway of this meeting pillar is that collaboration is no longer a suggestion but a necessity. Business leaders should be prepared to identify areas where their expertise aligns with government or international development goals and proactively seek partnership opportunities.

The second pillar, "A Compact for Inclusive Growth," was to ensure everyone benefits from economic prosperity. Stressed was the need to address "Geometric fragmentation," a term WEF coined to denote compound volatility in the global economy (risks in stock markets, supply chains, money value, etc.), which was as high as 69%. Therefore, the focus was on collaboration between national-level policymakers and corporations to promote broad-based growth to combat such risks. Experts discussed investing in training to prepare young workforces for the digitizing future and the need for social safety nets to protect vulnerable populations during transitions, for example, relief schemes for the impacted populace, portable skills certifications, and public sector cooperation for companies that create jobs in underserved communities. From all these, business executives must consider the impact of their operations on all stakeholders—not just shareholders—implementing inclusive practices and advocating for policies that promote shared prosperity. With that done, I am certain that your company can contribute to a more stable and sustainable global economy.

The third pillar, "Catalysing Action on Energy for Development," focused on accelerating the transition toward clean and affordable energy sources. The WEF presented the "Energy Triangle," a model showing a tangible way through which humanity can unleash a clean energy future, which WEF's own studies showed holds a potential worth more than $2 trillion. The model is simple—with an adequate supply and delivery system of sustainable power, demands will naturally follow—but its implementation requires authentic collaboration. Therefore, discussions were around mobilizing public-private investments in renewable energy infrastructure, fostering technological innovation in energy storage and transmission spearheaded by the private sector, and, for the public sector, ensuring a just transition for workers in the fossil fuel industry. I believe executives of both the energy industry and other sectors should take away the importance of aligning their operations with the global energy transition. This could involve investing in renewable energy sources for their operations, developing new energy-efficient technologies, or participating in projects bringing clean energy to underserved communities.

The World Economic Forum's Special Meeting on Global Collaboration, Growth and Energy for Development was all about collaboration—between states to promote peace and understanding, between companies to spur growth, and between citizens to ensure inclusiveness. Especially for executives, the forum was a clear roadmap to navigate your business toward the coming decade. Remember, the future is being shaped right now, and the decisions you make today will have a ripple effect for generations to come. By embracing collaboration—prioritizing inclusivity and energy transition—you can make your company thrive in this era of change and contribute to a more prosperous and sustainable world for all. You will see that doing GREAT things genuinely for every stakeholder has tremendous economic benefit; when everyone grows, companies grow!

The WEF’s goal of fostering collaboration ties neatly with BRANDi and Companies ’ very own paradigm, Sustainomy , a proposal for New Economy that stresses collaboration between every societal sector to create a true and lasting sustainable economy. I believe this will eventually replace the current form of capitalism (though I must stress that capitalism is not the enemy, but something that has been here for too long that it introduces more problems than solutions). Learn more about Sustainomy on our white paper here . Finally, I wanted to express my appreciation to the Thai ambassador, business leaders, and all the staff at the Thai Embassy in Riyadh for such a warm welcome. For you, the readers, I give my heartfelt gratitude for reading up to this point. I hope this article’s more or less inspired you to take action and collaborate toward a GREATer future together.

—Piyachart (Arm) Isarabhakdee, CEO of BRANDi and Companies