We are experiencing a return of “older” risks – inflation, cost-of-living crises, widespread social unrest, geopolitical confrontation and the spectre of nuclear warfare, but the critical long-term risk remains climate change.
- Cost of living crisis” is ranked as the most severe global risk over the next two years (but is seen as more of a short-term threat).
- “Biodiversity loss and ecosystem collapse” is viewed as one of the fastest accelerating global risks over the next decade. Failure of climate mitigation and climate adaptation are the largest long-term concerns.<
- Geopolitical rivalries and inward-looking stances will heighten economic constraints and further exacerbate both short- and long-term risks. Global Risks Report urges countries to work together to avoid “resource rivalries”.
These are being amplified by comparatively new developments in the global risks landscape, including unsustainable levels of debt, rapid and unconstrained development of dual-use (civilian and military) technologies and the growing pressure of climate change impacts and ambitions to protect nature in an ever-shrinking window for transition to a 1.5°C world. Watch our video for more insights and download The Global Risks Report 2023