Post by account_disabled on Mar 7, 2024 11:06:58 GMT 8
Economic and political polarization will increase this year, as collaboration between world leaders, businesses and policymakers is needed more than ever to stop serious threats to our climate, environment, public health and technological systems.
This demonstrates the clear need to take a multi-stakeholder approach to mitigating risk at a time when the world cannot wait for the confusion of geopolitical disorder to end. These would be the main conclusions of the World Economic Forum's 2020 Global Risks Report , published today.
The report foresees a year in which national and international divisions and economic slowdown will increase. Geopolitical turbulence is driving us toward a one-sided “unstable” world of great power rivalries at a time when business and government leaders must urgently focus on working together to address shared risks.
More than 750 global experts and decision-makers were Chile Mobile Number List asked to rank their biggest concerns in terms of likelihood and impact, and 78% said they expect “economic confrontations” and “domestic political polarization” increase in 2020.
This would be catastrophic, particularly in addressing urgent challenges such as the climate crisis, biodiversity loss and record species declines. The report, produced in collaboration with Marsh & McLennan and Zurich Insurance Group, highlights the need for policymakers to set goals to protect the Earth and boost economies, and for companies to avoid the risks of future losses potentially disastrous, in accordance with scientifically based objectives.
For the first time in ten years of the survey, the top five global risks in terms of probability are all environmental. The report raises the alarm about:
Extreme weather events with extensive damage to property, infrastructure and loss of human life.
Failure of governments and companies to mitigate and adapt to climate change.
Human-caused environmental damage and disasters, including environmental crimes such as oil spills and radioactive contamination.
Severe biodiversity loss and collapse of ecosystems (terrestrial or marine) with irreversible consequences for the environment, resulting in serious resource depletion for both humanity and industries.
Severe natural disasters such as earthquakes, tsunamis, volcanic eruptions and geomagnetic storms.
It adds that unless stakeholders adapt to the “power shift of the current era” and geopolitical turbulence, while continuing to prepare for the future, time will run out to address some of the economic, environmental and technological challenges. more pressing. This indicates where action by businesses and policymakers is most needed.
The political landscape is polarized, sea levels are rising, and climate fires are burning. This is the year when world leaders must work with all sectors of society to restore and revitalize our systems of cooperation, not only for short-term benefits, but to address our underlying risks .
Borge Brende , President of the World Economic Forum.
The Global Risks Report is part of the Global Risks Initiative , which brings together stakeholders to develop sustainable, integrated solutions to the world's most pressing challenges.
Systems-level thinking is necessary to address looming geopolitical and environmental risks, and threats that might otherwise go unnoticed. This year's report focuses explicitly on the impacts of growing inequality, gaps in technology governance, and health systems under pressure.
John Drzik , President of Marsh & McLennan Insights, said:
…investors, regulators, customers and employees are putting increasing pressure on companies to demonstrate resilience in the face of increasing climate volatility. Scientific advances mean that climate risks can now be modeled more accurately and incorporated into risk management and business plans. High-profile events, such as the recent wildfires in Australia and California, are increasing pressure on companies to take action on climate risk at a time when they also face increasing geopolitical and cyber risk challenges.
For younger generations, the state of the planet is even more alarming. The report highlights how those born after 1980 perceive these risks. They rated environmental risks higher than other respondents, both short and long term. Almost 90% of these respondents believe that “extreme heat waves”, “destruction of ecosystems” and “health impacted by pollution” will worsen in 2020; compared to 77%, 76% and 67% respectively for other generations. They also consider that the impact of environmental risks by 2030 will be even more catastrophic and more likely.
Human activity has already caused the loss of 83% of all wild mammals and half of plants , which are the basis of our food and health systems. Peter Giger , Group Chief Risk Officer, Zurich Insurance Group, warned of the urgent need to adapt more quickly to avoid the worst and irreversible impacts of climate change and to do more to protect the planet's biodiversity:
“…biologically diverse ecosystems sequester enormous amounts of carbon and provide massive economic benefits estimated at $33 trillion a year, the equivalent of the GDP of the US and China combined. It is essential that businesses and policymakers move quickly to transition to a low-carbon economy and more sustainable business models. We are already seeing companies destroyed because they have not adjusted their strategies to changes in policies and customer preferences. The risks of transition are real and everyone must play their role in mitigating them. “It’s not just an economic imperative, it’s simply the right thing to do.”
The 2020 Global Risks Report has been prepared with the invaluable support of the Global Risks Advisory Board of the World Economic Forum. It also benefits from continued collaboration with its strategic partners Marsh & McLennan and Zurich Insurance Group and its academic advisors at the Oxford Martin School (University of Oxford), the National University of Singapore and the Wharton Risk Management and Decision Processes Center (University of Oxford). Pennsylvania).