The report shows how current cost-of-living concerns are replaced by environment-linked risk as the decade progresses. Read more at straitstimes.com.
DAVOS - Failure to tackle climate change and environmental degradation dominate the ranking of top risks facing the planet in the next decade, a World Economic Forum survey of global risk specialists found.
Based on responses from 1,200 private sector risk managers, public policymakers, academics and industry leaders across the world, the report shows how current cost-of-living concerns are replaced by environment-linked risk as the decade progresses. That retrenchment comes even as extreme weather events and other environmental pressures accelerate. Moody’s Investors Service on Tuesday estimated that insured losses from natural catastrophes over the last five years had risen to an average of around US$100 billion a year.
Other developments in the top 10 included the impact of involuntary migrations, societal breakdown, cyber crime and economic hostilities between major trading blocs, which it considered more likely than outright military confrontation.
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