The World Economic Forum’s Global Risks Report 2024 live press conference provided insights that were both thought-provoking and slightly disheartening.

The overall outlook for the next 2 and 10 years is notably pessimistic. The key takeaway: we are entering a new era of risk, and no single stakeholder can tackle these challenges alone. Collective efforts are crucial to reducing uncertainty, addressing risk mitigation, and building long-term resilience to confront emerging disruptions and challenges.

In the short term (2 years), the top risks include the rampant spread of Misinformation and disinformation, closely followed by Extreme Weather Events.

Looking ahead to the next decade, climate-related risks still dominate, with specific concerns about:
1. Extreme Weather Events
2. Critical change to Earth systems
3. Biodiversity loss and ecosystem collapse
4. Natural Resource shortages

The addition of ‘Critical change to Earth systems’ underscores the escalating severity of risks over the next 10 years, contributing to an overall heightened sense of pessimism.

“We are no longer looking at climate change as one of the risks we are now looking at climate change as one of the structural forces that is already unfolding and within which the rest of the risks need to be analysed”.

Saadia Zahidi, Managing Director, World Economic Forum

Noteworthy across both 2 and 10 years is the persistent concern about Misinformation and disinformation, along with the adverse consequences of AI technologies and Cyber insecurity.

As Saadia Zahidi emphasises, this report is an outlook rather than a definitive prediction of the future. It serves as a compass, not a crystal ball, guiding us toward collective action in the face of evolving global risks. 🌍

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To download the report, see below.