Global Risk Report 2022: WEF

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These Are the Biggest Risks the World Faces in the Next 10 Years

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Global Risk Report published annually by World Economic Forum highlights key risks originating across five categories – Economic, Environment, Geopolitical, Societal and Technological. 

Top 5 Global risks over the next ten years:

  1. Climate Action Failure
  2. Extreme Weather 
  3. Biodiversity Loss
  4. Social Cohesion Erosion (lack of belief in the people that they share a moral community that enable them to trust each other)
  5. Livelihood crisis

Findings:

  1. Vaccine inequality – Poorest 52 countries only have 6% vaccination.
  2. Uneven economic recovery. Fall in GDP and economic stagnation.
  3. Increase in cybersecurity threats due to growing dependence on digital systems.
  4. Climate refugees are estimated to be 200 million by 2050 due to climate change.
  5. Space emerging as a new frontier – Five new government developed space stations by 2030. 
  6. Increased pressure to achieve net-zero emissions will put millions out of jobs. It may trigger societal and geopolitical tensions.
  7. “Social cohesion erosion”, “livelihood crises”, and “mental health deterioration” are concerning threats to the world in the next two years.

Consequences:

  1. Increase in income disparities.
  2. Increase in resentment within society as well as polarisation.
  3. Demand shocks and workers migration in search of a better future.
  4. Space tourism raises risks of collisions and increasing debris in space amid a lack of regulation.

Some reports published by WEF are:

  1. Energy Transition Index
  2. Global Competitiveness Report
  3. Global IT Report – WEF, INSEAD, and Cornell University publish it
  4. Global Gender Gap Report
  5. Global Risk Report
  6. Global Travel and Tourism Report

All about World Economic Forum (WEF) – Here 

Source: WEF