Bayer AG CEO Werner Baumann to address the need for innovative healthy aging strategy
New York, NY (July 3, 2019) – The Global Coalition on Aging (GCOA), the global business voice on aging, and the Finnish EU Council Presidency, which commences in July 2019, have joined together to organize the High-Level Forum on the Silver Economy. It is the first-ever conference focused on business and government leadership, on a global basis, to reimagine aging. The Forum will take place in Helsinki, Finland, on July 9-10 at the iconic Finlandia Hall. One of the core issues to be explored at the Forum is innovations for healthy aging.
Bayer AG, a multinational pharmaceutical and life sciences company, joins the Forum as a Strategic Partner. Werner Baumann, Chief Executive Officer of Bayer AG, will be a featured speaker at the conference. Baumann will discuss the need for innovation in advancing a healthy aging agenda.
“Today’s growing health and economic challenges related to aging population require innovative solutions from stakeholders all across society” said Baumann. “As a leading life sciences company we are striving to find solutions for unmet medical needs to tackle age-related diseases. Ultimately, we want to continue to make a meaningful contribution to society, enabling a healthier and more active aging for all.”
The global population over 60 is set to double between today and 2050, from 1 billion to 2 billion. While longevity is on the rise, birth rates are on a precipitous decline, leading to the rapid aging of society — trends never before experienced in human history. The demands for public policy change aligned to one of the most consequential megatrends of our era is matched by the opportunities for business strategies leveraging the $15 trillion silver market.
An invitation-only event, the Forum will draw approximately 500 delegates, including government leaders from around the world, CEOs from Fortune 100 companies, and thought leaders from academia and non-governmental organizations to offer solutions and innovative ideas that position the aging of society as a lever for growth, rather than a drain on society. Viewing population aging through this lens is good for citizens of all ages—imagining how we might behave when 100-year lives are the norm across the globe.
“Healthy aging must be a central component of any company’s business strategy and any country’s policy decision-making process,” said Dr. John Beard, former Director of Ageing and life Course at the World Health Organization and Chair of the Global Coalition on Aging Advisory Council. “Silver Economy Forum presents the first-ever global gathering of business and government leaders to provide real and practical solutions that leverage our aging population for growth.”
The Silver Economy Forum’s two-day event will:
- Illuminate the silver economy business opportunity. With the world’s 60+ population doubling between now and 2050, today’s 60+ spending power of US$15 trillion will grow even stronger. This group is larger and healthier and more active than ever before, so how will companies serve and leverage this untapped market?
- Define strategies for the multi-generational workforce.All employers are faced with critical talent issues as the workforce ages and for the first time ever there are five generations in the same workplace. The very concept of retirement at a pre-determined age is now obsolete. How can employers navigate and grow in this changing environment?
- Set the policy agenda. Strategic planning through an aging lens will be the most important consideration for government policy in the coming decades. From health and wellness to caregiving, and from NCDs and conditions of aging to social and financial benefits, aging will be the central driver of policy reform. How will national policies adapt, and what role will business play?
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. Bayer is a member of the Global Coalition on Aging. For more information, go to www.bayer.com.
About the Global Coalition on Aging
The Global Coalition on Aging aims to reshape how global leaders’ approach and prepare for the 21st century’s profound shift in population aging. GCOA uniquely brings together global corporations across industry sectors with common strategic interests in aging populations, a comprehensive and systemic understanding of aging, and an optimistic view of its impact. Through research, public policy analysis, advocacy, and strategic communications, GCOA is advancing innovative solutions and working to ensure global aging is a path to health, productivity and economic growth.