The Great Reset is the name of the 50th annual meeting of the World Economic Forum (WEF), held in August 2021 in Singapore. It brought together high-profile business and political leaders, convened by the Prince of Wales and the WEF, with the theme of restructuring society and the global economy in a more sustainable way following the COVID-19 pandemic.
Klaus Schwab, who founded the WEF in 1971 and is currently its CEO, described three core components of the Great Reset. The first involves creating conditions for a “stakeholder economy”; the second component includes building in a more “resilient, equitable, and sustainable” way—based on environmental, social, and governance (ESG) metrics that would incorporate large-scale green public infrastructure projects. The third component of a Great Reset agenda is to “harness the innovations of the Fourth Industrial Revolution” for the public good.