The WEF Global Risks Report 2022 is an annual publication that identifies the key risks the world could face over the next decade.
This year’s report emphasizes the urgent need for global cooperation and collective action to address the challenges of the climate crisis, cyber threats, the mobility revolution, and space exploration. The report is based on the Global Risks Perception Survey (GRPS), a survey of more than 1,000 experts and decision-makers from various sectors and regions.
The following paragraphs shortly summarize the four key topics of this year’s report.
Cyber, Mobility & Space
One key finding of the survey regarding cyber security: The world must defend itself against increasing cyber attacks, which can be carried out by both state and non-state actors. Therefore, the report argues for a “digital Geneva treaty” to establish common norms and rules for cyberspace.
Looking at mobility, we need to accelerate the transition to more sustainable forms of mobility, such as electric vehicles or public transportation. This could be realised with a “global mobility pact” to encourage innovation and break down barriers.
The last of these three future risks includes space: The human community needs to harness the potential of space for scientific discovery and economic benefit without causing conflict or environmental damage. The WEF Global Risks Report 2022 calls for an “Outer Space Treaty” to ensure peaceful use of space.
Despite the global lockdowns due to Covid-19, the year 2020 had faster rising Greenhouse Gas Emission rates than the average ten years before.
The GRPS found that failed climate action acts as the greatest long-term risk to our society with the potential to be the most harming threat of the upcoming decade. This includes extreme weather events, human environmental damage, natural resource crises and the loss of biodiversity.
It warns that the world faces a transition to a net-zero economy that could be accompanied by growing inequalities, social tensions, and geopolitical conflicts. It therefore calls for a just transformation that engages all global stakeholders and leaves no one behind.
Human society must double its efforts to reduce greenhouse gas emissions and adapt to the inevitable consequences of climate change. The surveyed experts recommend to install a “green Marshall Plan” to encourage investment in clean energy and infrastructure.
Takeaway from Global Risks Report 2022
Regarding the risks, climate-related risks will be the most severe threat of the upcoming decade.
All in all, the WEF Global Risks Report 2022 acts as a wake-up call for all global actors: governments, businesses, civil society and individuals must work together to mitigate the risks and seize the opportunities arising from the rapid changes we are experiencing.
If you and your company want to make an impact and catch up on climate action and disclosure, then you could get in contact with one our experts at DFGE via mail () or phone (+49 819 29973320). Together with us you will take the next step with a carbon footprint calculation, the conceptualization of an impactful climate strategy, the analysis of your companies’ specific climate-related risks and opportunities (TCFD) or guidance on CSR reportings and ratings like CDP and EcoVadis.