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A summary on the Global Risks Report 2020

Below you’ll find a summary prepared by th porto Protocol team on the GLOBAL RISKS REPORT 2020. This report was published by The World Economic Forum on January 15, 2020, presenting the major risks the world will be facing this year.

For the first time in the history of the survey’s 10-year outlook, environmental threats dominate the top five long-term risks by likelihood and occupy three of the top five spots by impact.

The report sounds the alarm on:

  • Extreme weather events with major damage to property, infrastructure and loss of human life
  • Failure of climate-change mitigation and adaptation by governments and businesses.
  • Human-made environmental damaGLOBAL RISKS REPORT 2020This Report published by The World Economic Forum on January 15, 2020 presents the major risks the world will be facing this year.

    For the first time in the history of the survey’s 10-year outlook, environmental threats dominate the top five long-term risks by likelihood and occupy three of the top five spots by impact.

    The report sounds the alarm on:

    • Extreme weather events with major damage to property, infrastructure and loss of human life
    • Failure of climate-change mitigation and adaptation by governments and businesses.
    • Human-made environmental damage and disasters, including environmental crime, such as oil spills, and radioactive contamination.
    • Major Biodiversity loss and ecosystem collapse (terrestrial or marine) with irreversible consequences for the environment, resulting in severely depleted resources for humankind as well as industries.
    • Major natural disasters such as earthquakes, tsunamis, volcanic eruptions, and geomagnetic storms.

     

     

    The report forecasts a year of increased domestic and international divisions and economic slowdown. Geopolitical turbulence is propelling us towards an “unsettled” unilateral world of great power rivalries at a time when business and government leaders must focus urgently on working together to tackle shared risks.

    Economic and political polarization will rise this year, as collaboration between world leaders, businesses and policy-makers is needed more than ever to stop severe threats to our climate, environment, public health and technology systems.

    The Word Economic Forum’s Global Risks Report 2020, points to a clear need for a multi-stakeholder approach to mitigating the identified risks.

    There is a need for policy-makers to match targets for protecting the Earth with ones for boosting economies – and for companies to avoid the risks of potentially disastrous future losses by adjusting to science-based targets.

    As Borge Brende, the Norwegian president of the World Economic Forum, said, it was increasingly clear that on climate change, “the cost of inaction far exceeds the cost of action”.

    And that is why we urgently need COLLECTIVE ACTION.

    ge and disasters, including environmental crime, such as oil spills, and radioactive contamination.

  • Major Biodiversity loss and ecosystem collapse (terrestrial or marine) with irreversible consequences for the environment, resulting in severely depleted resources for humankind as well as industries.
  • Major natural disasters such as earthquakes, tsunamis, volcanic eruptions, and geomagnetic storms.

 

The report forecasts a year of increased domestic and international divisions and economic slowdown. Geopolitical turbulence is propelling us towards an “unsettled” unilateral world of great power rivalries at a time when business and government leaders must focus urgently on working together to tackle shared risks.

Economic and political polarization will rise this year, as collaboration between world leaders, businesses and policy-makers is needed more than ever to stop severe threats to our climate, environment, public health and technology systems.

The Word Economic Forum’s Global Risks Report 2020, points to a clear need for a multi-stakeholder approach to mitigating the identified risks.

There is a need for policy-makers to match targets for protecting the Earth with ones for boosting economies – and for companies to avoid the risks of potentially disastrous future losses by adjusting to science-based targets.

As Borge Brende, the Norwegian president of the World Economic Forum, said, it was increasingly clear that on climate change, “the cost of inaction far exceeds the cost of action”.

And that is why we urgently need COLLECTIVE ACTION.

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