involved that to go after juice or identifiable on the streets. back in town heights his friends say they will back down the chance that you see things stronger in the he cheated of their it tempers. that report by best downhearted off next is d.w. a business with more from our team of reporters at the world economic forum in davos make sure to stay tuned for that i'm also going to buy our. coach a video. join linked to news from africa and the more story link to exceptional stories and discussions from the news of easy to out with same d.w. that comes from africa have joined us on facebook g w for god. can i am been taken. to

closest place to hell just a long evening and welcome you. nice news and you can. i will do our story. becomes a. must. if one starts january 27th on d w. the. company's off facing more pressure than ever to not just make money but it's a promote social change as well at the world economic forum in davos some of them on the business elite starts thinking about a new form of optimism about africa they call them is ready to put sustainability before profits. inflation in south africa decelerates it's

a full percent in december but there's a ray of hope with the lowest on the inflation in 15 years. this is business africa you updates on africa and global business on it. as well. is the purpose of a company just to make money and create value for shareholders or is it to guarantee social benefits life workplaces and decent wages and also environmental sustainability the climate change looming views on this of changing fast and skepticism over traditional shelder capitalism is coming from all corners for many economies across africa though putting sustainability before growth is easier said than done but facing what is perceived as a global emergency those worries seem to matter less the idea is getting more and more applause in davos where the international business elite as gathering for the world economic forum for one message coming out of davos is that companies want to take more responsibility for the environment and one is ahead of the pack one of

the world's biggest money managers blackrock is working with germany and france on creating environmental funds $500000000.00 for sustainable investment and the trillions of dollars that black rock managers will be invested in clean projects. we're going to turn down any companies that don't take long term environmental and climate risks into consideration in their corporate management we take coal mining for example we will withdraw from companies that continue to rely on coal will refuse to take part in those projects. blackrock is still one of the biggest investors and coal projects such a huge company changing its policies can have a tangible effect but is this just green washing or a serious commitment it's not something that superficial it's not something that they're doing to greenwash it's something that fundamentally change is their economics and the way they do business if we act. we think about companies that are

performing well financially they're also usually the ones that are doing better on environmental metrics and social metrics and governance metrics what would a new sustainable capitalism look like there are plenty of initiatives around the world to help companies be more sustainable and we're told there's definitely rising demand for such services especially since companies are affected by complex global problems which they can't solve on their own. well it looks like what that girl liberation is the new competitive edge to companies so those companies that know how to collaborate with n.g.o.s civil society with governments and with their competitors with the supply players that are really partner not just compete those hopefully have the future but the $500000000.00 that black rock is collecting for climate funds won't go far in solving the world's climate woes. well there's also a very well and good but not every economy has the luxury to address these issues

when it's 1st and foremost amas to feed hungry children. this is in davos for us have a what are you hearing that the african participants feel slightly uneasy about all this talk about putting sustainability before growth. well dad it's 2 way street if you will and you have to analyze it carefully of course all the concepts that are presented here are almost always talk about the fact that new initiatives sort of always take into consideration sustainability or also the well being of all the sake holders that's why it's called the stakeholder capitalism and that of course would include a vision where it would be hard to imagine a town in an african country for example that would have 100 percent renewable energies but no access to water and that is definitely the case so of course ideas in general are welcome here that being said if you take a look at the agenda at the topics of the panels it is true that this year the climate emergency has somehow caused that the pressing issues of some of the

african countries that have not been resolved at all the old problems if you will still are there but are not being addressed in the scale that they were addressed before he'll commission president was not funded and said today that europe will have a so-called 1st mover advantage on climate neutrality you see africa in last place again. well some are warning that this could be the case because it has happened before with other global initiatives of course innovation is expensive we know that it's the powerful countries in the power for companies that can introduce technologies for example that are needed and the question of course is also how will countries be perceived would a country that does a bold investment but then has a higher debt for example be considered a country in crisis or an example to follow that is one of the most important questions here because the change of perspective is very difficult and it's still very far away get out. thank you very much.

there is c.e.o. of google on the alphabet has called for global regulation on artificial intelligence speaking at the world economic forum in davos sundar pichai warned of the dangers of new technology as well as mentioning the benefits he says legislation will be needed to avoid the misuse of machines or venture arms high tech eyes are always watching him down force this time it was the turn of one of the biggest names in technology to be captured on camera so breaks alphabet c.e.o.'s send up each i was interviewed by the founder of the world economic forum klaus schwab clay discussed perhaps the biggest ethical challenge facing the tech world is artificial intelligence. more profound than fire or a look a city or any of the other bigger things we're working on. tremendous positive side through it but you know it has real negative consequences. facial recognition is

one of the alphabet bosses examples though it can be used to help find missing people for instance it's also a gift to anyone trying to carry out mass surveillance that message may seem surprising from the head of an organization often criticised for its mass gathering and your data. nevertheless says he's pushing for a global approach to ensure ai isn't misused. as democratic countries with the threat set of values we need to build on those values the mid-term and me approach here i we are doing it in a way that so society and uk means making 3 uyghurs and a bias that we build and pursue course. ph i praised a fledgling e.u. legislation as a good start but says the rest of the world mustn't be too far behind. in south africa inflation accelerates to 4 percent in december broadly in line with

what as well. expecting the month on month rise in prices was driven by higher prices for fuel and electricity as well as food and beverages even though prices rose south africa's inflation is still well within the central bank's target range the average rate for last year was a moderate 4 point one percent which is the lowest reading since 2005. earlier i spoke to. the deputy editor of business day in johannesburg and i asked him for the mind factors behind south africa's lowest annual inflation rate in 50 years. who were there a couple of factors driving. so you've got the consumer in sort of. spending guardedly because they are swimming in that really so even when they do go out to go and buy something at the shops what they do is to stuff. already marked down

so that's that's that's one factor and the other factor is wage inflation and wage inflation in south africa over the past couple of years has been slowing down so people disposable income is really under pressure so a combination of that. in fact the evidence of a consumer spending being low is seen in the economy because consumer spending is really the engine that propels this our african economy i mean as you know the sort of an economy has not grown at all in the past 10 years so that's that that's that's been the main driver of that that's kept the inflation subdued and. yeah it is food expected to tick up a little bit so it's however it would still it would still be expected to remain

within the target range set by the reserve bank and their range is really between 3 and 4 percent as the reserve bank said last week that its own projection models suggest that. with the direction or the projection of the of inflation in this year they expect another interest rate cut in the 4th quarter of the year. it goes back to your question did the main driver for the inflation is really expected to be full and electricity prices as you would know eskom is struggling and they need to increase prices almost. they need to increase prices to ensure. they stay afloat. so talk to me apologize for the missing bits of audio that. invasion of crop eating

capabilities has left hundreds of thousands of farmers in malawi fearing for their produce staple foods like rice and millet have all been affected it's a further blow in a country that is already struggling with severe food shortages caused by droughts nearly 2000000 people in malawi currently do not have enough to eat the government distributed pesticides to farmers to control the infestation. and now to some of the other global business stories making headlines today on kong has just announced its 1st case of the new corona virus has infected hundreds since it emerged in mainland china last month the. pacific says it will allow flight attendants to wear masks while working on flights it's feared the flu like illness could spread further as people travel for the lunar new year holiday. japanese carmaker honda toyota and honda will recall over 6000000 vehicles worldwide huge concerns

over there. says an electronic control unit for isn't safeguard against noise during a crash honda's unrelated recall involves potentially fall to deflate as from now defunct japanese company. mining company very well has been charged over a dam collapse in brazil this that killed 270 people belanger's german order to visit. environmental crime 16 people face an intentional homicide charges in brazil's worst of industrial acts. and that's it from me and the business team here in berlin for more check out our website that's w dot com slash business stay tuned now for news africa with a mike a junior up next right after this look at global markets. the law.

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