Climate action failure is the world’s most concerning risk of 2021, according to a survey by the World Economic Forum. Climate action failure is only second to extreme weather and infectious disease which ranks first by likelihood of occurrence and impact, respectively.
- Infectious diseases are considered the second most concerning risks globally and one with the most significant impact.
- Livelihood crises are the third most concerning risk and seventh by impact and close as the last on the top ten risks globally by the likelihood of occurrence.
- The World Economic Forum ranks the erosion of social cohesion as the fourth most concerning risk of 2021 despite missing on the top by likelihood and impact.
- Loss of diversity ranks as the fifth most concerning risk globally and the fifth by likelihood and impact.
- Despite ranking eighth as the world’s most concerning risk globally and by impact, extreme weather is the topmost risk by the likelihood of occurrence.
- The top-ranked short-term risks (0-2 years) are infectious diseases with a score of 58%, followed by livelihood crises (55.1%), and extreme weather events (52.7%).
- The top-ranked medium-term risks (3-5 years) are asset bubble burst with a score of 53.3%, which ties with IT infrastructure breakdown, and price instability at 52.9%.
- Weapons of mass destruction rank as the most troublesome long-term risk (5-10 years), with a score of 62.7%, state collapse (51.8%), and biodiversity loss (51.2%).
The World Economic Forum engages political, business, cultural, and other leaders to shape global, regional, and industry agendas.