Environmental Risks Still Dominating the Global Risks Landscape
Published in January 2019, the 14th edition of the Global Risks Report, prepared by the World Economic Forum provides significant insights into risk landscape. The report also highlights major threats that may disrupt the world in 2019 and over the next decade to inform government, business and investor action.
The report asks one main question: “Is the world sleep walking into a crisis?“
In the report, World Economic Forum also mentions the top 10 risks by likelihood. Out of those, 6 of them are related to environmental risks, including:
– Extreme weather
– Climate change mitigation failures
– Major natural disasters and biodiversity loss
– Man-made environmental damages
– Water crisis
What Are the Takeaways from the Report?
In response to the Global Risk Report 2019, Principle for Responsible Environment (PRI), a United Nations-supported international network of investors, released a publication compiling the main takeaways from the report so that governments, businesses and investors may take appropriate actions.
1. Environmental Risks Dominate the Global Risks Landscape
Extreme weather events and failures of climate mitigation and adaptation are dominating the global risk landscape. However, there is a lack of political will to set more stretching targets to cut emissions.
2. Global Risks Are Intensifying while Respond Capacity Is Declining
Power is moving towards more nationalist and they are becoming more inwards-looking. With greater geopolitical friction, our ability to cooperate to solve challenges such as cyber risks and climate change has become more challenging.
3. The Report Highlights a Forestalling Infrastructure Crisis
In the USA for example, there is a significant financing gap in infrastructure capital. Whereas, extreme weather events are becoming more common nowadays, and infrastructure needs to be as resilient as possible.
For more information and in-depth reading about PRI signatories’ key takeaways from the Global Risks Report 2019, read the full article in the link below.
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