Rebuilding trust in world institutions

In the face of the serious, even existential threats posed by runaway climate chaos, and the runaway development of Artificial Intelligence without guard rails, we seem powerless to act together.

Geopolitical divides are preventing us from coming together around global solutions for global challenges.

Little wonder that people everywhere are losing faith in governments, institutions and financial and economic systems.

Some analysts predict we are moving into a totally chaotic situation, in which geopolitical divides at all levels prevent any global response to global threats.

But I strongly believe it is possible to prevent this disastrous scenario.

I am confident we can build a new, multipolar global order with new opportunities for leadership, and with balance and justice in international relations.

The only way to manage this complexity and avoid a slide into chaos is through a reformed, inclusive networked multilateralism.

Without them, further fragmentation is inevitable, and the consequences are clear.

We see an epidemic of impunity around the world.

We see some countries doing whatever it takes to further their own interests at all costs.

Geopolitical divisions are a major risk factor affecting our faltering global economy.

Political instability is adding to economic insecurity.

Meanwhile, inequality and injustice are reaching obscene levels — a serious obstacle to sustainable development.

Oxfam reports that the world’s five richest men — and they are men — have more than doubled their fortunes since 2020 — at a rate of $14 million US dollars per hour.

At the same time, more than half the world, nearly five billion people, have become poorer.

The World Bank warns we are heading toward the worst half-decade for growth in 30 years.

And many of the same countries battered by climate chaos are in a financial chokehold.

More than half the world’s poorest 75 countries face debt distress. Their interest payments have quadrupled in recent years.

After decades of reductions in poverty and hunger, progress has slowed and, in some countries, gone into reverse. And this is fueling resentment and anger. When global norms collapse, so does trust.

Let’s be clear: Rebuilding Trust is not a slogan or a PR campaign.

It requires deep reforms to global governance to manage geopolitical tensions during a new era of multipolarity.

And it is essential to building a safer, more stable and prosperous world.

The institutions and frameworks of global governance, from the Security Council to the Bretton Woods system, were created 80 years ago.

We can’t build a future for our grandchildren with a system built for our grandparents.

The United Nations is fully engaged this year in efforts to bring them up to date, rooted in equality and solidarity, based on the UN Charter and international law.

Rebuilding Trust will not happen overnight — but I am convinced that it’s both essential and possible.

I urge everybody to prevent further damage and to get our world back on track to safety, to prosperity and peace.

“We see an epidemic of impunity around the world. We see some countries doing whatever it takes to further their own interests at all costs.

Excerpts from the UN Secretary-General’s Special Address to the World Economic Forum, 17 January 2024.