A new report claims the cost-of-living crisis has overtaken climate change as the biggest and most urgent worldwide risk.
The poll of more than 1,200 global risk experts, policy-makers and industry leaders found that the global pandemic and war in Europe have thrust fears over soaring energy and food costs to the fore.
Geo-economic confrontation and the erosion of social cohesion and polarised societies, made worse by disinformation and misinformation, rank in second and fifth place in the top 10 short-term risks. In fact, climate change and environmental related concerns account for four of the top five risks over the 10-year horizon and the WEF said the findings shows the window for action is ‘closing rapidly and concerted, collective action is needed before risks reach a tipping point’.
‘Those that are already the most vulnerable are suffering – and in the face of multiple crises, those who qualify as vulnerable are rapidly expanding, in rich and poor countries alike.’
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