World Economic Forum: Top Global Risks in 2021

World Economic Forum: Top Global Risks in 2021

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. 

Global Risks Network
  • 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.

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