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Global CRISIS warning: Darkening economy contributing to TOP RISK factors facing world


The international organisation has raised concerns the world is “sleepwalking into a crisis” with global risks from political and economic tensions to climate change intensifying. In its latest Global Risks Report, WWF economists highlighted environmental threats as among the top risks facing the world this year. Economic growth, the report argues, is having an effect on issues including climate change as worsening international relations look set to undermine cooperation on cleaning up the environment. Political upheaval linked to Brexit and the trade war between the United States are just some of the problems that have impacted the global economy over the last 12 months as investors have been left on edge from uncertainty.

Borge Brende, president of the World Economic Forum said: “With global trade and economic growth at risk in 2019, there is a more urgent need than ever to renew the architecture of international cooperation.”

He added: “What we need now is coordinated, concerted action to sustain growth and to tackle the grave threats facing our world today.”

Among the environmental threats listed in the doom-laden report include extreme weather events, made worse by global warming and a failure to tackle climate change.

Wildlife loss as well as man-made environmental disasters and natural disasters are also in the top 10 of risks both in terms of high impact and high likelihood in 2019.

Also listed was fear of a water crisis, which can be linked to and exacerbated by climate change.

Alison Martin, group chief risk officer at Zurich Insurance Group, strategic partners for the report, urged businesses to develop a climate resilience strategy and act on it immediately.

said: “2018 was sadly a year of historic wildfires, continued heavy flooding and increasing greenhouse gas emissions.

“It is no surprise that in 2019, environmental risks once again dominate the list of major concerns.

“So, too, does the growing likelihood of environmental policy failure or a lack of timely policy implementation.

“To effectively respond to climate change requires a significant increase in infrastructure to adapt to this new environment and transition to a low-carbon economy.”

Tanya Steele, chief executive of WWF, said: “We are the first generation to know that we are destroying the world and the last that can do anything about it.”

The report was a “wake-up call for the world and business leaders alike”, she said.

Ms Steele added: “We urgently need a new global deal for people and nature to kick start a global programme of recovery to ensure we and future generations have a world that is fit to live in.”

The Bishop of Dudley, Graham Usher, warned the world’s most deprived areas will be affected most severely by climate change.

He said: “It is significant that the threats posed by climate change have been recognised by the world’s top economic experts.

“While this report serves to strengthen calls for urgent action to protect and sustain God’s creation, it also highlights the peril of inactivity and delay, which particularly places the economically poorest people in our world at risk of devastating consequences.”



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