World Economic Forum series of research reports and engages its members in sector-specific initiatives. There have been many other international conferences nicknamed with "Davos". However, the World Economic Forum objected the use of "Davos" in such contexts for any event not organised by them. This particular statement was issued on 22 October 2018, a day before the opening of 2018 Future Investment Initiative (nicknamed "Davos in the desert") organised by the Public Investment Fund of Saudi Arabia. The WEF was founded in 1971 by Klaus Schwab, a German-born business professor at the University of Geneva. First named the "European Management Forum", it changed
World Forum for Ethics in Business conferences joined forces and established a new independent organization, the World Forum for Ethics in Business (WFEB). An initiative of the World Forum for Ethics in Business, the World Youth Forum is part of the annual conferences as an open platform for youth to voice their message to the world’s decision makers in today’s global economic and political environment and to the world community at large. Every year, WFEB confers the Ethics in Business Award to honour individuals and companies that have demonstrated the importance of human values and ethics in life and in the business arena. World Forum for