Mid-January saw the publication of the annual World Economic Forum (WEF) “Global Risks Report” timed to set the agenda during this week’s WEF Annual Meeting in Davos.
With each new edition – and this year’s edition is the fifteenth, inevitably, one first turns to the opening page of the report, to discover the Top Five Global Risks for 2020, in terms of their “likelihood” and “impact”. What has been trending and what has slipped down the chart?
The World Economic Forum (WEF) has celebrated its fiftieth-year at its annual meeting in Davos. Increasingly the business/political nexus has become that articulated in WEF founder Klaus Schwab’s Davos Manifesto, that corporations “… must assume the role of a trustee of the material universe for future generations.”
In 2020, “Action on climate change” has now become the number one risk in terms of impact in the World Economic Forum’s Global Risk Report. The work at RMS on quantifying risk and exploring how risk is expected to shift under climate change has never been more important or timely.