Global Risks Report 2013: Interconnectedness of the Economy and the Environment

The World Economic Forum (WEF) released the eighth edition of its Global Risks Report 2013 which ranks climate change from rising greenhouse gas emissions as a major global threats. Also high on the list is the failure of governments and businesses to mitigate or adapt to climate change. The 2013 report indicates that ongoing economic weakness detracts from our ability to tackle environmental challenges.

The WEF works with governments to develop mechanisms for managing risk. The report rates the top global risks based on a survey of over 1000 experts from industry, government and academia. The 2013 report sampled respondents from more than 100 countries, although the majority came from Europe and North America. A total of 40 percent of respondents came from a business background.

One of the major findings of the report is the fact that risks are interconnected including the strong relationship between the environment and the economy.

At the report’s launch, John Drzik, the CEO of the risk and insurance services group Oliver Wyman, said, “We see two big risks coming together, one is an environmental storm and the other is an economic storm, and we see them on a collision course.”
Climate change poses a very significant cost to governments. As Drzik pointed out governments are having to step in to help those impacted by extreme weather events. However, economic difficulties put constraints on government response. However, the failure to mitigate and adapt to climate change will incur much greater costs.

Although the report does not present solutions, it does provide valuable insight into important issues that will be addressed at its annual meeting in Davos at the end of January and for wider debate.

To review the report click here.

Key Findings of the Global Environmental Outlook (GEO-5)
World Resources Institute Warning About New Coal Plants
PricewaterhouseCoopers Climate Change Warning
International Renewable Energy Institute Climate Warning
Warning from the International Energy Agency: The World’s Ongoing Reliance on Fossil Fuels Crushes Hopes of Averting Climate Change
World Bank Climate Change Warning
World Meteorological Organization Climate Warning
World Bank Climate Change Warning
UNEP Warning: We are on The Brink of a Climate Catastrophe
World Bank Report Warns of A 4°C World
10 Charts on Climate Change
September 2012 was the Warmest in Recorded History (NOAA)
Strong Body of Evidence for a Changing Climate
American Meteorological Society Corroborates Anthropogenic Climate Change
More Scientific Support for Anthropogenic Climate Change
Science and Pernicious Ignorance of Climate Change Denial
The Fifth Global Environmental Outlook Report
A New Study Indicates We Are Reaching a Tipping Points
Environmental Tipping Points
Climate Change Science
Top Four Climate Studies of 2011
State of the Climate Global Analysis Nov 2011
Interactive Map Reveals Warmer Spring 2012
2012 is but the Latest Year Marked by Heat and Drought
Heat in the US Northeast and Drought Around the World IN 2012
Temperature Data: 1880 – 2011 (Video)
New NASA Video Graphically Illustrates that the Earth is Warming
Popular Media is Distorting the Facts about Climate
State of the Climate Global Analysis Nov 2011
Debunking CO2 Myths and The Science of Climate Change
Primer on CO2 and other GHGs
Video: Why People are Confused about the Scientific Veracity of Climate Change
Bill McKibben: Global Warming’s Terrifying New Math
The Effects of Global Warming