Failure of climate change mitigation tops risk list

An increased likelihood for all risks, from the environment to society, the economy, geopolitics and technology, looks set to shape the global agenda in the coming year, according to the 11th edition of the World Economic Forum’s Global risks report. The report, which every year features an assessment by experts on the top global risks in terms of likelihood and potential impact over the coming 10 years, found that the risk with the greatest potential impact in 2016 was a failure of climate change mitigation and adaptation. This is the first time since the report was published in 2006 that an environmental risk has topped the ranking. This year, it was considered to have greater potential damage than weapons of mass destruction (2nd), water crises (3rd), large-scale involuntary migration (4th) and a severe energy price shock (5th).

The number one risk in 2016 in terms of likelihood, meanwhile, is large-scale involuntary migration, followed by extreme weather events (2nd), failure of climate change mitigation and adaptation (3rd), interstate conflict with regional consequences (4th) and major natural catastrophes (5th).

Such a broad risk landscape is unprecedented in the 11 years the report has been measuring global risks. For the first time, four out of five categories – environmental, geopolitical, societal and economic – feature among the top five most impactful risks. The only category not to feature is technological risk, where the highest ranking risk is cyberattack, in 11th position in both likelihood and impact.