News:The World Economic Forum has released the ‘Global Risks Report 2020’.
About Global Risks report:
- The report describes changes occurring in the global risks landscape from year to year and identifies global catastrophic risks.
- This is the first time in the report’s 10-year-history that all of the top five issues that are likely to impact the world this year are environmental.
Top 10 risks:The report has listed top 10 risks over the next 10 years which are:
- Extreme weather
- Climate action failure
- Natural Disaster
- Biodiversity loss
- Humans made environmental disasters
- Data fraud or theft
- Water crisis
- Global governance failure
- Asset Bubble
Other takeaways from the report:
- It reports that Climate-related risks had the greatest likelihood of severe impacts.
- It foresees a year of increased domestic and international political instability.The retreat from multilateralism has threatened the ability of the world to deal with global risks.
- It also forecasts a year of economic slowdown.The International Monetary Fund had expected growth to be at 3% in 2019, which is the lowest since the economic crisis of 2008-09.
- The Digital Technology is in its peak of evolution.However,the unequal access of the technology across the globe will increase.
- The social demographic, environmental and technological pressure on health systems is growing.
About World Economic Forum(WEF)
- WEF was established in 1971 as a not-for-profit foundation and is headquartered in Geneva,Switzerland.
- The objective of WEF is to improve the state of the world by engaging business,political,academic and other leaders of society to shape global,regional and industry agendas.
- The reports published by the WEF are (a)Global Competitiveness Report (b)Global Gender Gap Report (c)Global Risks Report and (d)Global Travel and Tourism Report among others.