WORLD Economic Forum (WEF) intends to probe different countries' resilience
to global financial, environmental and other risks in a diagnostic report to be
released sometime in 2013. WEF has disclosed this in its Global Risks 2013
report that it released last week.
The Report says: “The aim is to develop a future diagnostic report to enable
decision-makers to track progress in building national resilience and possibly
identify where further investments are needed. The interim study will be
published this summer, and we invite readers to review the proposed framework
and to share ideas and suggestions with the Risk Response Network.”
This subject has already figured in the GR2013 report, which is the eighth
annual report in its series. It incorporates a chapter titled ‘ Building
National Resilience to Global Risks'.
It says: “This year's Special Report examines the increasingly important
issue of building national resilience to global risks. It introduces qualitative
and quantitative indicators to assess overall national resilience to global
risks by looking at five national-level subsystems (economic, environmental,
governance, infrastructure and social) through the lens of five components:
robustness, redundancy, resourcefulness, response and recovery.”
GR2013 report is developed from an annual survey of over 1,000 experts from
industry, government, academia and civil society who were asked to review a
landscape of 50 global risks.
The global risk that respondents rated most likely to manifest over the next
10 years is severe income disparity , while the risk rated as having the highest
impact if it were to manifest is major systemic financial failure . There are
also two risks appearing in the top five of both impact and likelihood – chronic
fiscal imbalances and water supply crisis.
The t op Five Risks by Likelihood and Impact are: severe income disparity,
chronic fiscal imbalances, rising greenhouse gas emissions, water supply crises
and mismanagement of population ageing.
The top five risks that can have the high Impact are: major systemic
financial failure, water supply crises, chronic fiscal imbalances, food shortage
crises and diffusion of weapons of mass destruction.
The world is more at risk as persistent economic weakness saps our ability to
tackle environmental challenges, according to the report.
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