i think the. pain people fear for their lives and their future so they seek refuge abroad but what will become of those who stay behind and simply. my husband went to peru because of the crisis. if he hadn't gone there we would have died of hunger running down. displaced this week t w. youth were front and center at this year's davos meetings will look at what if any influence they had on the events more powerful powerful participants. also on the show we'll talk to a nobel prize winning economist who believes that american companies need to change their obsession with shareholder value. and getting central bank go green the

e.c.v. launches a strategic review that looks at buying more climate friendly bonds from heroes and members. this is your view business report i'm stephen beers in berlin it's good to have you with us friday marks the final day of the annual world economic forum meetings in davos the event turned 50 this year and celebrated by putting a younger generation front and center their urgency over the climate crisis drove much of the week long event and created some dramatic contrast with world leadership. young activists like gretta tune burge stormed into davos planning to force through their message that change can't wait this was more than any other a world economic forum led by the world's youth the other generation has a lot of experience but we have ideas we have energy but for those hoping to ensure an adult hood of environmental progress the forum got off to a bad start on day one president trump decried them as prophets of doom and instead

chose to talk about a growing u.s. economy america's thriving america's flourishing in years america is winning again like never before the disappointment was clear i didn't hear anything about the world america is leader in the world and. i think that litters have to take care not only about themselves but also about other nations because we have the same collective planet since then the town of davos is witnessed more assertive environmental statements urging corporations and nations alike to wake up to the challenge the world is facing. it is absolutely essential to recognize that climate change is an existential threat to us all and if climate change is running faster then what we are in day 3 saw anglo-american push for renewed global commitment to the paris climate accord. so i think that this is in fact the world

must act together it's an international agreement unfortunately not everyone is still with it but many are but it also meant above all that every country must make its contribution by the fact that supplies most young delegates began the forum complaining that previous pledges had been all talk pretty much nothing has been done since the global emissions of c o 2 has not. reduced leaders must now make good on their deficit promises because an impatient younger generation is watching. so let's go now to d.w. senior business correspondent ben facilities in davos ben as we saw there youth were front and center at davos this year how persuasive were they for world leadership. very persuasive the companies here have signed up to a new accountability scheme meaning they're going to shift their focus away from just profits and losses to their benefits and responsibility to society and the

environment that's a big thing whether or not they actually do it is another question but some companies are already operating that way shareholders seem to like it and in the long term this could be where their profits are made it's something very interesting because it's always a case of following the money as soon as you see $1000000000.00 and trillion dollar funds shifting their focus towards renewables and green projects then everyone else starts panicking because they think they're going to miss out so we are definitely seeing a huge shift in money flows here and a shift in attitudes from companies they've also signed up to the 1st new manifesto he has since 1973 promising to pay taxes treat their workers and supply as well have 0 tolerance as far as corruption goes and also be open to fair competition that's quite a lot and it's quite a big ask for some of these companies that have been operating very differently in

the past. that you touched on it there that question of a company's role in society was a prominent one in davos what did you take away from that discussion in terms of how much is realistic and what companies are doing. i think it's realistic to a certain extent it's very difficult to say because it has always been a talk shop for the global elite but we are seeing in this day in age a very very savvy young population that is aware on social media of what these companies are doing and they're going to be holding these companies accountable they don't work for companies that ont green they also want to work for a company that is responsible and has a purpose in life and for their lives and for the planet that they live on the change that's in the air here in davos is something i talked to with joseph stiglitz a renowned economist about and i asked him how different this world economic forum

is full him. it was different in 2 ways i think the sense of commitment to climate change the sense of urgency was much greater than i've seen before. and this is true not only of civil society government leaders but also of the business community some real real commitment the other striking thing was the dissonance between. the theme of the conference stakeholder capitalism workers environment customers that broad perspective and having donald trump here. you know they talk of he said he was helping the middle class as he passed a tax bill that raised the tax on a vast majority of the middle class well it lower the taxes on the billionaires here and on the big corporations here that said we'll stakeholder capitalism and

catch on will we see action. i don't know i think there's obviously a rhetorical flourish in the united states there's a. understandable defensiveness because it's very clear that the shareholder capitalism has led to an environmental crisis a a inequality crisis an opioid crisis a childhood diabetes crisis all these things financial crisis all these things that are going wrong with american capitalism. capitalism is not serving large fractions of our society and they know the american people are unhappy it seems like the us is the problem i mean china is leading the way as far sustainability goes so many other companies around the welt making their pledges here but we don't hear pledges from the u.s. oil majors or from mr trump. i think there is a sense in which the u.s.

is is the problem let me emphasize though it is mr trump that is overwhelmingly the problem i believe if we had a different administration these business leaders who are less leaders than they might be would follow a new administration with a new commitment to address these crises which are not only american crises been in various forms are global crises is the sickly it's thank you very much thank you nice to be here. all right been pursuing their force in davos as he has been the whole week thank you very much. thank you since. and let's stay in europe now and take a look at the euro the currency slipping to a 7 week low following a european central bank decision to hold interest rates at their current level e.c.b. president christine legarde said the risks to europe's economy were less pronounced following a u.s. china trade deal lugard also announced the bank would begin

a strategic review in focus uncertainty over its inflation target and the possibility that the e.c.b. could introduce climate friendly policies such as the purchase of climate related bonds. and for more on that deal be financial correspondent konrad booze and joins me now from frankfurt conrad why is the e.c.b. so focused on inflation. well it's what the e.c.b. was told to be the inflation the way how consumer prices develop is the number one focus point for the european central bank when it comes to decide how the economy's doing and what sort of monetary policy it needs the problem with this official inflation rate this 2 percent inflation rate target is that it's not been met for many years now and that many economists also people within the e.c.b. believe that this focus is too narrow is too strict and that

inflation should be seen differently you know the mainstream in the economic world is changing and that should that should be taken more into consideration in the e.c.b. strategy. at another part of this review announced by the e.c.b. is the idea that it could pursue more climate friendly policies what does that mean . well you know this basically means the same what the easy be or like card tries to say here is that if the whole world goes green the e.c.b. shall not refrain from it and it's there's no denying that you know the business world the financial world tries to tackle climate change and the risk involved and this should be also attributed to the european central bank maybe by buying green up arms right konrad in their force in frankfurt.

meanwhile investors are feeling jittery about further contagion as new cases of the deadly coronavirus emerge the gambling industry in particular isn't feeling too good about its odds stocks in casino companies have been sliding several big las vegas gaming brands like sands when resorts and mel co have exposure to china through their casinos casinos rather in macau they're worried their businesses may have to close if the virus gets out of control. the founder of american pharmaceuticals company insists there are putin john in kapoor has been sentenced to 5 and a half years in prison for orchestrating a bribery and kickback scheme to boost sales of an opioid prescription drugs a prosecutor said kapoor and others paid millions of dollars to doctors across the u.s. to prescribe a highly addictive oral fintan ill spray the bribes were paid in form in the form of fees for sham speaking engagements the u.s. has struggled to control an opioid addiction crisis with prosecutors increasingly

targeting drug makers. german air carrier condo or is being bought by polish airline l o t that's according to the company on friday and last year condo received a financial bailout from the german government in form of a 380000000 euro bridge loan that helped the airline break away from its found its floundering parent company thomas cook a lot was one of the 3 airlines vying to buy a condo or. and that's it for me and the d. w. business team here bill and as always you can find out more about these and other business stories online at g.w. dot com slash business i'm stephen beard live in berlin as always thanks watching.

my 1st boss i also saw him machine. where i come from women are followed by this motion for. something as simple as learning how to write a bicycle is and. since i was a little girl i wanted to have a bicycle off my home and it took me as the. finally they gave up invention by me

and i say this country turns because sewing machine sewing i suppose was more apt procreates for girls than riding a bike as knowledge i want to meet those moments back home who are both by their duties and social norms and informed them own bed peace and rights my name is them out of the home and i work feed them. hello and a very warm welcome to news from the world of arts and culture let's have a look at what's coming up today 'd 'd. the book the hidden life of trees became a surprise international bestseller and now it's being turned into a film. and an artist based in stockholm who makes

a visual and with product design. while the german president frank votto steinmeyer joined other world leaders in jerusalem to remember the victims of the holocaust on thursday there are also many other events marking the 75th anniversary of the liberation of the concentration camps in 1945 the last surviving jews in europe back then with a hung garion jews as germany only occupied the country in 198414 year old shiny air and buys was deported to auschwitz but kept a diary that story is now revealed in berlin's german historical museum. kept a diary to her so 1st 75 years now it's going on show for the 1st time she was just 14 when she started to write it on the day the germans occupied.