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DIRECTORATE GENERAL SECRETARIAT
Mr John Galt
<xxxxxxxxxxxxxxxxxxxxxxxxxx@xxxxxxxx.xxx>
18 February 2022
Reference: LS/PS/2022/13
Request for public access to ECB documents
Dear Mr Galt,
On 23 December 2021 the European Central Bank (ECB) received your application for access to
documents which contain the information on the ECB representatives’ correspondence, letters, phone
calls, email, contracts or legal obligations, if any, with the World Economic Forum (WEF) or its founder
Klaus Schwab between 31 December 2018 and 22 December 2021.
On 24 January 2022, in line with Article 7(3) of Decision ECB/2004/3
1 on public access to ECB
documents and owing to the need to consult the World Economic Forum in line with Article 4(4) of the
same Decision, the ECB extended the stipulated time limit for reply by a 20 working days.
Interactions of ECB representatives with the World Economic Forum (WEF)
First, we would like to note that we understand your request as referring to interactions on substance
between the members of the ECB’s Executive Board and the WEF (thus not covering exchanges
about the logistics or organisational aspects of events, such as the credentials to join virtual meetings).
In general, these interactions took place in the context of annual and other meetings and events
organised by the WEF
2. Annex I to this letter provides an overview of the WEF meetings, events, and
initiatives to which the Executive Board members have contributed between 31 December 2018 and
22 December 2021. In summary:
Since assuming office on 1 November 2019, President Lagarde has attended and contributed to
several meetings and events organised or supported by the WEF and in August 2021 she took
part in the
TIME 100 Talks program in the form of a dialogue with Klaus Schwab.
3 Ms Lagarde is
1 Decision ECB/2004/3 of 4 March 2004 on public access to European Central Bank documents (OJ L 80,
18.3.2004, p. 42)
2 Such attendance is included in the calendars of the Executive Board members, which are published on the
ECB website
: https://www.ecb.europa.eu/ecb/access_to_documents/document/calendars/html/index.en.html
and https://www.ecb.europa.eu/ecb/access_to_documents/document/former_calendars/html/index.en.html
3 S
ee: https:/ www.ecb.europa.eu/press/inter/date/2021/html/ecb.in210901_1~171c7b19d0.en.html and
ht ps:/ www.weforum.org/podcasts/radio-davos/episodes/christine-lagarde-the-ecb-chief-talks-covid-climate-and-crypto
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also member of the WEF’s Board of Trustees
4 but does not represent the ECB in this function
which she holds since 2011.
5
Vice-President De Guindos participated in the
WEF Regional Action Group for Europe and
Eurasia, established in April 2020. This group endorsed Values & Principles for the Recovery.
6
Mr Benoît Cœuré, Member of the Executive Board until 31 December 2019, participated in the
WEF Annual Meeting 2019 and in the
WEF’s Global Future Council (GFC) on Europe. In the
period of interest to you, the GFC published a white paper on the Future of Europe and a
Manifesto for Europe, which are both available on the WEF’s website.
7
Identification of the requested documents
The ECB, after having carefully examined your request in line with Decision ECB/2004/3, has
identified 21 ECB documents or extracts of ECB documents of relevance to your application.
8 A
comprehensive list of the identified documents and extracts is provided in Annex II to this letter.
Assessment of disclosure
Following a thorough assessment in line with the requirements established by Decision ECB/2004/3,
and after having consulted the World Economic Forum in line with Article 4(4) of the Decision, the
ECB has decided that access to all identified ECB documents or extracts of ECB documents can be
granted in ful (see attachments) since none of the exceptions listed in Article 4 of the Decision apply.
Redaction of personal data
Where applicable, parts containing personal data of staff members of the ECB or of third parties have
been redacted, together with any information that would make the data subjects identifiable. Personal
data are protected by Article 4(1)(b) of Decision ECB/2004/3 in conjunction with Article 9 of Regulation
(EU) 2018/1725 of the European Parliament and of the Council. Article 9(1)(b) of Regulation (EU)
2018/1725 stipulates that, for the transfer of personal data, the recipient must establish a necessity to
have personal data transmitted for a specific purpose in the public interest. Since you have not
established such a necessity, access to personal data in the documents must be refused on the basis
of Article 4(1)(b) of Decision ECB/2004/3.
4 For more information on the WEF Board of Trustees s
ee https:/ www.weforum.org/about/leadership-and-governance
5 See President Lagarde’s curriculum vitae published on the ECB website
https://www.ecb.europa.eu/ecb/orga/decisions/html/cvlagarde.en.html
6 See document 49
7
https://www3.weforum.org/docs/WEF_White_Paper_GFC_Europe_AM19.pdf
https://www3.weforum.org/docs/WEF_New_Manifesto_for_Europe_GFC_Europe_2019.pdf
8 In accordance with the ECB’s Filing and Retention Plan, information of short-term value shall not be kept.
2
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Final remarks
Please note that, in line with Article 10 of Decision ECB/2004/3, “Documents released in accordance
with this Decision shall not be reproduced or exploited for commercial purposes without the ECB’s prior
specific authorisation. The ECB may withhold such authorisation without stating reasons.”
Yours sincerely,
[signed]
[signed]
Petra Senkovic
Roman Schremser
Director General Secretariat Chief Compliance and Governance Officer
Attachments
3
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Annex I
Participation by members of the ECB’s Executive Board in events and initiatives organised or supported by the World Economic Forum in 2019-2022
President
2020
23-24 January
WEF Annual Meeting: speech on “How can a united Europe meet the
calendar and
speech
Christine Lagarde
challenges it faces today?” and participation in panel on “Global Economic
Outlook”
8 April
WEF
COVID Action Platform meeting, on the
calendar
fight against the coronavirus (COVID-19) – teleconference
9 November
Green Horizon Summit on “The Pivotal Role of Finance”, jointly organised by
calendar
City of London Corporation and the Green Finance Institute and supported by
the WEF – speech on “Information and innovation – underpinning an orderly
transition to a carbon neutral world”
16 November
Opening Plenary of the WEF Pioneers of Change Summit – speech on “How
twitter
COVID-19 is changing the economy – and what we can do about it” via
teleconference
2021
25 January
WEF Annual Meeting – participation in virtual high-level leadership panel on
calendar
“Restoring Economic Growth”
twitter
26 January
WEF International Business Council meeting on “Measuring Stakeholder
Capitalism: Community discussion on commitments and action” –
teleconference
19 February
Meet the Leader series with Young Global Leaders and Global Shapers
calendar a
nd twitter
30 August
TIME 100 Talks program – dialogue with Klaus Schwab
twitter
Vice-President
2020
WEF Regional Action Group for Europe and Eurasia
Luis De Guindos
Executive Board
2019
WEF Global Future Council on Europe
member Benoît
Coeuré
25 January
WEF Annual Meeting
calendar
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Annex II: List of identified documents
Date
Description
Assessment of
disclosure
(* redaction of
personal data)
1
02/04/2020
Invitation President Lagarde - COVID Action platform
Yes*
2
Attachment to document 3: COVID Action platform
Yes
3
26/10/2020
Invitation President Lagarde - Pioneers of Change
Yes*
4
Attachment to document 5: Session structure
Yes
5
23/11/2020
Invitation President Lagarde - Davos 2021 Leadership panel
Yes
6
24/11/2020
Invitation President Lagarde - Davos 2021
Yes*
7
Attachment to document 8: Davos Agenda
Yes
8
06/01/2021
Invitation President Lagarde - Meet the leader conversation - extract
Yes*
9
19/01/2021
Correspondence President Lagarde – participation session Davos 2021
Yes*
10
Attachment to document 10: Session structure « Restoring Economic
Yes
Growth » - extract
11
13/05/2020
Invitation Vice-President De Guindos – Regional Action Group for Europe
Yes*
and Eurasia - extract
12
June 2020
Values and principles for recovery endorsed by WEF Regional Action Group
Yes
for Europe and Eurasia
13
20/12/2018
Invitation Mr Coeuré – World Economic Forum’s Global Future Council (GFC) Yes*
on Europe – extract
14
11/01/2019
Correspondence Mr Coeuré - Transmission documents GFC
Yes*
15
Attachment to document 2: Summary meeting GFC
Yes
16
Attachment to document 2: overview of Europe and Eurasia Programme
Yes
17
14/01/2019
Invitation Mr Coeuré - Davos 2019 - extract
Yes*
18
30/01/2019
Letter Mr Coeuré on participation in DAVOS 2019
Yes*
19
03/04/2019
Invitation Mr Coeuré - GFC on Europe
Yes*
20
Attachment to document 21: agenda - extract
Yes
21
Attachment to document 21: summary Europe discussion at Davos 2019
Yes*
5