Climate and environmental issues dominate the World Economic Forum’s 10 most severe threats to humanity in the next decade.
The report comes ahead of the Taoiseach and Finance Minister’s trip to Davos, where government, business and civil leaders will meet to discuss the ‘state of the world’ at the WEF’s 53rd meeting this week.
Over the next two years, the Cost of Living crisis is ranked the biggest global threat followed by natural disasters and extreme weather.
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Geoeconomic confrontation, failure to mitigate climate change and the erosion of social cohesion are among the five most severe threats up to 2025, with five of the top 10 related to the environment.
Six of the 10 most severe risks to life as we know it up to 2033 are related to climate crisis failures including mitigation and adaptation, loss of biodiversity and ecosystem collapse, natural disasters, natural resource crises and large scale environmental damage incidents.
Involuntary migration is listed in fifth place, while cybercrime, social cohesion and geoeconomics also pose grave concerns.
A spokesperson for Taoiseach Leo Varadkar says he “is planning to engage on these issues” and “other pressing challenges including the war in Ukraine and the global economic outlook with his counterparts and other attendees at the World Economic Forum”.
They added: “Given recent extreme weather events and increasing evidence of the adverse impact of climate change and biodiversity loss, it is not surprising that the World Economic Forum Global Risks Report 2023 shows that climate and environmental risks feature very heavily in global concerns over the coming 2 year and 10 year periods.
“The Taoiseach shares these concerns and Ireland is taking action. With our EU partners, we are showing leadership in global efforts to reduce greenhouse gas emissions.
“Stopping climate change and biodiversity loss will demand the efforts of governments, citizens and business, working together.”
The Global Risks Report 2023 presents the results of the latest Global Risks Perception Survey.
Its authors said: “Climate and environmental risks are the core focus of global risks perceptions over the next decade – and
are the risks for which we are seen to be the least prepared.”
The report warns while some threats seem “eerily familiar” they are being “amplified by comparatively new developments in the global risks landscape”.
These include “unsustainable levels of debt, low growth, low investment and de-globalization, a decline in human development after decades of progress, rapid and unconstrained development of dual-use (civilian and military) technologies and the growing pressure of climate change impacts and ambitions in an ever shrinking window for transition to a 1.5°C world”.
Taoiseach Leo Varadker and Finance Minister Micheal McGrath will be in Davos, Switzerland from January 16-20.
A WEF white paper written in conjunction with Price Waterhouse Coopers ahead of the meeting outlines what leaders, business and civil society can do to adapt to accelerate climate action.
PWC chair Bob Moritz says the message that we need to “act now to prevent catastrophic consequences” of climate change is “no longer enough”.
“Climate change is no longer a far off threat,” he added.
“While efforts must continue to prevent further temperature increases by reducing greenhouse gas emissions, this must be coupled with an equal focus to adapting to the climate realities of today.
“We need more businesses to step up and work with government, international organisations and communities to adapt to the acute hazards facing the world today.
“This isn’t just good for society and our planet. It is good for business.”
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