World Economic Forum's Global Risks Report 2018

At 10pm NZ time last night, The World Economic Forum launched its annual Global Risks Report which, every January, shares the perspectives of global experts and decision-makers on the most significant risks that face the world.

The report cautions that we are struggling to keep up with the accelerating pace of change. It highlights numerous areas where we are pushing systems to the brink, from extinction-level rates of biodiversity loss to mounting concerns about the possibility of new wars. The prospect of strong economic growth in 2018 however does present leaders with a golden opportunity to address signs of severe weakness in many of the complex systems that underpin our world, such as societies, economies, international relations and the environment.

From a New Zealand standpoint, five top risks were identified –

1. Natural catastrophe
2. Extreme weather events
3. Large cyber attacks
4. Asset bubble
5. Urban planning failure

Overall, the report suggests that experts are preparing for another year of heightened risk. Three key findings emerged from this year’s survey:

• Structural and interconnected nature of risks in 2018 threaten the very system on which societies, economies and international relations are based.
• The positive economic outlook gives leaders the opportunity to tackle systemic fragility affecting societies, economies, international relations and the environment..
• Environmental risks dominate the Global Risk Perception Survey for the second year running; when we asked about risk trajectories in the coming year, 59% of answers pointed to increasing risks.

For more information on the Global Risks Report 2018:
• Read the report launch press release here
• Watch the report launch press conference at http://wef.ch/live
• Follow the Forum on Twitter at http://wef.ch/twitter and join the conversation using hashtag #risks18
• Read the Forum Agenda at https://www.weforum.org/agenda
• Find out more about the Annual Meeting 2018 at wef.ch/follow

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