World Economic Forum’s 2010 Global Risk Report

January 14, 2010: Release of the Global Risk Report 2010

Warnings of the long shadow of the financial crisis
I’m pleased to announce the release of the 5th edition of the WEF GRR report.
The result of extensive input throughout the previous year by experts from business, academia, and the public sector, Global Risks 2010 highlights a number of slow-moving risks exacerbated by the financial crisis and global economic downturn, and stresses the continued need to further enhance global resilience to risks. Global governance gaps, an issue already to the fore in Global Risks 2009, continues to be at the nexus of global risks and the need for coordinated global action is increasingly urgent.

The Global Risks report is published yearly ahead of the World Economic Forum Annual Meeting in Davos-Klosters, Switzerland, and is produced in partnership with Citigroup, Marsh & McLennan Companies (MMC), Swiss Re, the Wharton School Risk Center and Zurich Financial Services. The result of year-long consultations with experts from business, academia and policy-making, Global Risks 2010 marks the fifth edition of the report, coinciding with the 40th anniversary of the Forum.

Global Risks 2010 highlights the impact of the fiscal crisis and the social and political implications of high unemployment rates in several major economies as key concerns. Notably, the current models for health, education and unemployment protection have been put under severe strain by the fiscal crisis, notwithstanding the longer-term implications of increasing life expectancy

Fiscal crises and unemployment, underinvestment in infrastructure and chronic disease are identified as the pivotal areas of risk over the next years. At the same time, the Report warns that there are also a number of risks to keep on the radar, including the economic and social costs of transnational crime and corruption, biodiversity losses and risks to critical systems from cybervulnerability.

The Report suggests that the events of the past year have highlighted the systemic nature of global risks and the need to rethink how to manage and respond to them. Reverting to “business as usual” could have serious implications in the long term in several risk areas. This reflects the premise at the core of the Global Risk Network’s work that global risks do not manifest themselves in isolation.

Click here to access the full report (pdf).

If you want to better understand risk interdependencies (economics; geopolitics; environment; society; technology): Try the interactive map.