The biggest global risks

 

The World Economic Forum (WEF) Global Risks Report 2021, suggested that although threats from infectious diseases have caught the world’s attention as a potential global risk for recurrence. The number of environmental threats still dominating by the likelihood of the main risks over the next 10 years.¬†

Image: Global Risks Report 2021

The report provides a rich insight into the major threats that could impact global stability in 2021 and beyond. The 16th edition of the report, published by WEF, is based on input from 650 global experts and decision-makers who have been asked to identify their concerns in terms of probability and impact. Respondents were asked to assess the likelihood of a global risk emerging over the next 10 years and its magnitude if any were to occur.

Extreme weather, climate action failure, human-led environmental damage; as well as the digital power concentration, digital inequality and cybersecurity failures are among the most likely threats for the next 10 years. Infectious diseases, followed by climate change failures and other environmental risks, are among the biggest impact risks of the next decade; as well as weapons of mass destruction.

Climate concerns 

Despite COVID-19’s unforeseen implications, climate challenges remain the main part of the global year’s list, that the study defines as “an existential threat to humanity”. Despite the decrease in carbon pollution caused by the lockdowns and disruptions in the market and travels, there are fears that as economies start to regenerate, emissions will rise.

Image: Global Risks Report 2021

An environmental emergency that leads to loss of life, social and geopolitical tensions and negative economic consequences is absolutely feasible with complex and faster climate changes than expected. The study also indicates that risk reduction means encouraging countries and organizations to act instead of reacting to threats. Creating new forms of collaboration, formulating analytical frameworks and building trust through transparent and comprehensive communication.

Reference: World Economic Forum (2021): The Global Risks Report 2021 16th Edition.

 

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