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World Economic Forum Releases Latest Global Risks Report

January 27, 2020 Leave a comment DRI Admin

This year’s report from the World Economic Forum (WEF) highlights the urgent need for collaborations between businesses, policy makers, and world leaders, in order to stave off the worst threats to the environment, public health, technology, and more.

The WEF’s Global Risks Report 2020 – based on the responses of 750 global experts – warns of increased domestic and international divisions and possible economic slowdown, all while failing to address continually mounting threats to the globe.

For the first time in its 10-year outlook, the top five most likely global risks are all environmental:

  1. Extreme weather events with major damage to property, infrastructure and loss of life
  2. Failure of climate-change mitigation and adaptation by governments and businesses
  3. Human-made environmental damage and disasters, including environmental crime, such as oil spills, and radioactive contamination
  4. Major biodiversity loss and ecosystem collapse with irreversible consequences for the environment, resulting in severely depleted resources for humankind as well as industries, and
  5. Major natural disasters such as earthquakes, tsunamis, volcanic eruptions, and geomagnetic storms.

“There is mounting pressure on companies from investors, regulators, customers, and employees to demonstrate their resilience to rising climate volatility,” said John Drzik, Chairman of Marsh & McLennan Insights. “High profile events, like recent wildfires in Australia and California, are adding pressure on companies to take action on climate risk at a time when they also face greater geopolitical and cyber risk challenges.”

The most severe impacts, meanwhile, would be felt by these top five risks:

  1. Failure of climate change mitigation and adaptation
  2. Weapons of mass destruction
  3. Major biodiversity loss and ecosystem collapse
  4. Extreme weather events (e.g. floods, storms, etc.), and
  5. Water crises.

Click here to download the complete report.

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