story. 'd women especially of victims of violence. take part and send us your story we are trying always to understand this new culture. you are not even a turn off and yet you want to become sitting. in for migrants your platform for reliable information. climate change and inequality 2 biggest issues climbing to the top of the agenda at this year's world economic forum meetings in davos look at what setting the tone in the swiss alps. also on the show can europe declare its digital independence from the u.s. and china we'll take you to the discussion in munich. and the most expensive real

estate market in the world sees its value slide a bit we'll take you to hong kong for the latest. this is your business report i'm stephen beers in berlin thanks for joining us. ratatouille donald trump both are scheduled to attend the annual world economic forum meetings in davos switzerland which are getting underway monday a sustainability and climate change are the main topics of the meeting activists like to embed are putting more pressure on governments and business leaders to do more in stopping climate change the form is introducing a scorecard this year to rate companies on how sustainably they act. now ahead of davos american money management for black rock has grabbed a great deal of the attention of the finance world its c.e.o. larry fisk announcing that the company would quote exit investments presenting a high sustainability related risk in quote for a start to festing hundreds of millions of dollars from coaling to businesses and that could be a big deal black rock is the world's largest fund manager it holds close to 7

trillion dollars in assets to put that in perspective germany's entire g.d.p. for $2800.00 was closer to 4 trillion dollars now managing that amount of money means a correspondingly high level of influence in the corporate world in germany germany alone black rock counts as the biggest single shareholder in the following dax companies siemens buyer among them the question now what could its decision mean for the broader world of finance and for more on this i'm joined by sasha stephan of the frankfurt's group school of finance and management sush it's good to have you with us this would seem like quite a momentous decision from blackrock can you shed some perspective on this how big a deal is it. i think 1st of all it's an important i think it's a big deal that. adjoins on some of the companies banks insurance companies and trying to take specific actions the question is on the one hand how they can do it

and they're actually going to follow up on that. so i think the the question how they can do it on the one hand they could as i said divest investments but the amount of. out of these 7b2b actually actively manage where they can actually do that the rest is so-called passive investors and and this is very difficult to divest so another important potentially important activity would be to vote even with these passive stake and say so paul these climate neutral climate friendly actions which they actually have opposed during the last couple of years has blocked out suggested with its new strategy that it might actually vote on some of these companies. i think there's a question is are they going to to do that run because the on the one hand this new approach what you call it being there not only for the shareholders but for the general for the stakeholders at large meaning also the enlightenment and other stakeholders me to complete shift from this a shareholder focused model and the shareholders usually also focus on more short

term gain rather than the long term perspective of the question is is black progress are going for or through and and then more broadly what is actually the best or most efficient way to address these climate change problems is there any sign that other major fund managers such as vanguard could be taking a similar position all i assume that once one manager start as the others will definitely chime in and we see also that not only the asset managers but origin insurer spanx are thinking more carefully about how they employ their capital but i think more largely and the bottom line is this is going to be enough is the private sector really equipped to dealing with these large and important issues or should it be and this is actually my major point of should actually be governments dealing with the problem which affects society globally all right such as stephan professor at the frankfurt school thank you very

much. it's munich now where europe's digital independence is on the agenda more specifically can the e.u. carve out its own standards for data regulation or artificial intelligence in a world dominated by big tech companies in the u.s. and china now it says it has a strategy. how can europe better position itself in the age of digitalisation and digital life design in munich business and media representatives and politicians are looking for answers we are not changing ourselves we have directly to become a cult digital colony of the us of china if google decides tomorrow to switch off its services for europe then what mike you see still on the screen he clearly fears they'll be nothing that's why e.u. commissioner to me by tone has announced a single e.u. digital strategy it's true that man vision is that your brand. will be used

for your print company priority. for us to create value in europe. and not just that the e.u. commission's digital strategy should lead to common standards for 5 g. technology companies that promote europe's internet sovereignty will benefit the most stricter security measures will also be introduced for the collection and processing of data and more funds will be invested in artificial intelligence internet experts are skeptical about how the e.u. can finance the measures bit of evil training offensives and economic offensives all cost a lot of money but there isn't any budget for them and european countries will really have to combine forces according to the atmosphere at the meeting those goals all can be achieved by working together. and over to asia now where china has

introduced a range of new laws aimed at tackling plastic pollution beijing says controls on the production of it vironment only unfriendly products and the promotion of greener alternatives will be phased in over the next 5 years. into the production of single use plastics such as tableware and swabs by the end of this year china aims to have its plastic pollution under control by 2025. meanwhile malaysia says it's returned $150.00 containers of plastic waste to 13 countries since late last year the malaysian government says the country refuses to become the world's dumping ground that after china banned waste imports. another container is he back to the port more than 3700 metric tons of plastic waste have been dispatched from malaysia back to the countries that originally dumped them since the 3rd quarter of last year.

the illegal shipments have come from developed nations such as france the u.k. in the u.s. southeast asian countries such as malaysia have been flooded with western rubbish since china refused to accept any more plastic shipments in 2018 but time and again there is a legal consignments of being rejected so we have sent 150 you are 110 more that we will send across the 3 different. parts in malaysia and it's the dumping countries that will foot the bill malaysia says it won't be paying a penny to send the stuff back. staying in asia it's the world's most expensive real estate market prices in hong kong are facing new pressure after months of protests there was some losses or surprisingly large

experts warn a gets too much optimism for buyers hong kong's real estate market is the least affordable in the world after months of democracy protest pressure is growing in the hong kong market this tiny shop of less than 2 square metres in a cramped corner of the commercial district is a powerful symbol of change investment banker turned property manager edwin lee explains. this is this shop that very much to pay so based on my best knowledge and memory to shop last the most money in hong kong the store was once a currency exchange kiosk but the tourism downturn means it's now a real estate office for just over a 1000000 euros it's sold for less than half the us now because that because it's always the repo market and people simply not willing to buy shops anymore so the land not once in a hurry to sell the shop and when to sell it at a big loss apartments in prime sites such as those near hong kong's high speed rail terminus are unlikely to lose value since 2003 the value of hong kong homes has

surged 544 percent but the economic downturn ended the longest bull market in the hong kong property sectors history the luxury residential market is especially vulnerable because property was bought by mainland chinese who are staying away. property consultant vincent says the protests are hurting sentiment but the man still outstrip supply hong kong home prices rose 3.4 percent in 2019. in hall call i guess more than 60 percent of the properties which without the mawkish them is more most of the whole all older they don't need to we paid the mortgage and that's why i say they can wait and see even though the market is a lot worse at this retro why now that they don't have. the pop they seem to wash and that's why i say that's a lot much to say at just an all correction on the home price at this moment.

property owners are watching to protest to see what happens the threat of a downturn looms over the real estate market analysis spec tong kong property prices to fall in 2020. space x. has deliberately destroyed one of its rockets and was scheduled to be a final major test before flying humans into space yuan musts company launched one of its falcon 9 rocket to try out its abort function during the unpiloted test the capsule that will carry the astronauts broke away from the rocket before drifting back to earth must describe the launch as picture perfect next space x. needs nasa to certify the rocket for flights with human crew. well it struck like an earthquake in france is just wrong to me world after 2 years almost 2 years after the death of top french chef paul bocuse his legendary restaurant lost his 3rd star in the food bible the michelin guide for now on boat cruises. among

top nearly own is reduced to 2 stars michelin said the quality of the establishment remains excellent but no longer at the level of 3 stars paul bocuse appeared in my eyes french cuisine for many people he died in january 28th scene. aged 91. and that's it for me and the d.w. business team here in berlin you can of course find out more about these and other stories online at d w dot com slash business do check us out on facebook and twitter as well i'm stephen bears in berlin as always good to have you with us.

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