Each 15 March the consumer movement unites to highlight a pressing issue facing consumers globally.
This year, the Membership of Consumers International - 200 consumer groups in 100 countries - selected Fair Digital Finance as our global theme.
By 2024, digital banking consumers are expected to exceed 3.6 billion. In the developing world, the proportion of account owners sending and receiving payments digitally has grown from 57% in 2014 to 70% in 2017. Digital finance brings new opportunities – but also new risks that can lead to unfair outcomes for consumers. Digital finance can increase the likelihood that the most vulnerable are left behind.
This World Consumer Rights Day sparked the first-ever global conversation on the consumer vision for fair digital finance.
Consumers International hosted the Fair Digital Finance Forum from Monday 14 – Friday 18 March.
The Forum featured a unique and visionary series of events to galvanise stakeholders in accelerating progress towards fair digital finance. Importantly, the Forum featured and amplified World Consumer Rights Day which takes place each year on the 15 March.
The Forum provided an international and interactive space to demonstrate the power of the consumer movement and the opportunity of consumer protection and empowerment in product design and regulation.
Consumers International, UNEP and One Planet Network release their global assessment of recycling and sustainability labelling on plastic packaging. The research found only 19% of assessed labels give consumers quality information to make informed recycling and purchasing decisions.
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Leaders from business and government need consumers to take action to meet the global issues we face, but first consumers need to feel protected and empowered. Below we provide a snapshot of the key themes explored at Davos to explain this further. Not only that but these examples from our work and that of our Members highlight the invaluable bridge building role that consumer advocacy groups play between business, government and consumers.
For each day at Davos, we will keep you informed of our activity there and share key moments and commitments made at the event relating to these areas. Keep an eye on this page as we do so!