The World Economic Forum (WEF) has launched the COVID Action Platform (CAP), intended to be a catalyst for private sector support in response to the fast-spreading coronavirus (Covid-19). 

Acting as a partner to the World Health Organisation (WHO), the forum said the “dramatic” virus had disrupted lives, livelihoods, communities and businesses worldwide, and needed speedy responses to find ways to help end infections timeously. 

WEF said CAP would focus on three priorities: galvanising the global business community for collective action, protecting people’s livelihoods and facilitating business continuity, and mobilising cooperation and business support for the Covid-19 response.

The platform is open to all global businesses and industry groups, as well as other stakeholders, including governments, that wish to team up with the private sector on their response. 

CAP will operate a network where CEOs, organisational leaders and designated Covid-19 corporate responders can offer their help and team-up on specific projects, launch actions and keep each other informed of best practices.

“Covid-19 is causing health emergencies and economic disruptions that no single stakeholder can address,” said Klaus Schwab, founder and executive chairman of the WEF. 

“Our best and only response to it should be to take concerted action. The COVID Action Platform is at the centre of our mission and we draw upon all our members and partners, communities and capabilities to make it a success,” he added.

World Health Organisation director-general, Tedros Adhanom Ghebreyesus has said the private sector had an essential role to play in combating the public health crisis through expertise, innovation and resources. 

“We call on companies and organisations around the world to make full use of this platform in support of the global public health response to Covid-19.”

CAP was conceived after a WEF conference call with over 200 corporate leaders from all over the world. It is supported by WHO and the Wellcome Trust and is the first initiative of its kind, operating globally. 

The WEF has established a special team to support the platform’s work.