Mounting Global Risks

Attributed to World Islamic Economic Forum (WIEF) Foundation

- Hon. Tun Musa Hitam

Global Risks Report 2020 forecasts what top minds view as imminent concerns leaders must address and paints an interesting picture of global risks, as well as how these have evolved over time.

The report, produced in partnership with Marsh & McLennan and Zurich Insurance Group, points to a need for policymakers to add even more impetus to targets for protecting the Earth like they have done towards boosting economies – and for companies to avoid the risks of potentially disastrous future losses by taking action.

Seven hundred and fifty global experts from the World Economic Forum (WEF) were asked to assess the likelihood of a global risk happening over the next 10 years, and, the severity of its impact at a global level if it occurs.

The Environment

The environment is a hot topic in various arenas and platforms. The Report shows environmental risks as the top five global risks in terms of their likelihood.

Pressure on businesses and government demands action on climate change and other environmental threats. It is debatable what action the gathering of what is meant to be Stakeholders for a Cohesive and Sustainable World has brought about. On the one hand, some progress has been made with the world’s biggest money manager, BlackRock, having their chairman and chief executive, Larry Fink, commit to exit some investments that carry sustainability risk.