The Davos Agenda 2022 kicking off Monday will provide an opportunity for world leaders to reflect on the "State of the World" and shape solutions for critical challenges in the year ahead, according to the World Economic Forum (WEF).

Two years since the start of the COVID-19 pandemic, the five-day online event "will focus on driving concerted action among key global stakeholders," said the WEF in a news release published on its website.

Key sessions of the event will cover such issues as the COVID-19 pandemic, the fourth industrial revolution, energy transition, the climate crisis, sustainable development and the global economic outlook, according to the WEF.

Participants will also share their views on climate change, the social contract and vaccine equity, among others, said the WEF.

"Everyone hopes that in 2022, the COVID-19 pandemic, and the crises that accompanied it, will finally begin to recede. But major global challenges await us, from climate change to rebuilding trust and social cohesion. To address them, leaders will need to adopt new models, look long term, renew cooperation and act systemically," said Klaus Schwab, founder and executive chairman of the WEF.

Last month, the WEF announced that due to continued concerns over the Omicron variant, it will defer its annual meeting, which is usually held in the Swiss ski resort of Davos. Initially scheduled to take place between Jan. 17 to Jan. 21, it is now planned for early summer.

Instead, participants joins the virtual Davos Agenda 2022 from Jan. 17 to Jan. 21, bringing together global leaders to find solutions to the world's most pressing challenges.