Climate risks remain a global concern in 2022

2022/01/12 19:13:00

WWF says the Global Risks Report is a wake-up call for world leaders and business to make the necessary changes to reduce the crisis

Climate risks remain a global concern in 2022: WWF says the Global Risks Report is a wake-up call for world leaders and business to make the necessary changes to reduce the crisis

WWF says the Global Risks Report is a wake-up call for world leaders and business to make the necessary changes to reduce the crisis

This came out in theGlobal Risks Report for 2022,a series of annual studies by the World Economic Forum that track global risk perceptions among specialists, business leaders, governments and civil society, with a focus on the economy, environment, geopolitics, society and technology.

For the 2022 report, climate change risks accounted for the top three risks by severity, with climate action failure, extreme weather and biodiversity loss — the reduction in the number of genes, species, individual organisms and ecosystems — dominanating. The environmental damage caused by people, as well as the natural resources crisis, were also among the top 10 global risks for the next 10 years.

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This came out in the Global Risks Report for 2022, a series of annual studies by the World Economic Forum that track global risk perceptions among specialists, business leaders, governments and civil society, with a focus on the economy, environment, geopolitics, society and technology. For the 2022 report, climate change risks accounted for the top three risks by severity, with climate action failure, extreme weather and biodiversity loss — the reduction in the number of genes, species, individual organisms and ecosystems — dominanating.3% forecast in June, the Washington-based development organization said in its semi-annual Global Economic Prospects report Tuesday. The environmental damage caused by people, as well as the natural resources crisis, were also among the top 10 global risks for the next 10 years.1% in 2022, less than a 4. Up to 77% of the respondents said efforts to mitigate climate change had not even started and only one in six were optimistic about the future. “There is there a serious slowdown underway,” Ayhan Kose, the chief economist of the Prospects Group at the institution, said in an interview. Covid-19 was also highlighted in the report, with changes in the global risk from the pandemic expected to be seen in the next two to 10 years as the effects of the virus began to fall off. So we wouldn’t expect the same kind of roaring close-to-30% return.

After the release of the report, the World Wide Fund for Nature (WWF) said policy-makers and business people were finally waking up to the real risks posed by climate change and biodiversity loss.” The global outlook is clouded by what World Bank Group president David Malpass termed “exceptional uncertainty.  “There is there a serious slowdown under way,” Ayhan Kose, the chief economist of the Prospects Group at the institution, said in an interview. “This is the result of a new ‘eco-awakening’,” WWF international director-general Marco Lambertini said. “And it is why news headlines and social media are routinely dominated by stories about wildfires, droughts, extreme weather, scarcity of resources, loss of wildlife and of course, the ongoing global pandemic. In emerging markets with limited policy space to provide support, the risks heighten chances of a hard landing for their economies, it said.” He said there was finally an understanding that to build a safer, more prosperous and equitable future, a stable climate change and healthy natural world needed to be secured.” Downside risks include renewed Covid-19 outbreaks, the possibility of de-anchored inflation expectations, and financial stress in a context of record-high debt levels, the bank said. “ As the world’s leaders gear up for this year’s biodiversity talks in China, it is critical that they act on society’s concerns and finally connect the dots between climate change, the destruction of nature and our current production and consumption model,” said Lambertini. In contrast, the pace of recovery for emerging nations has been further damped by waning policy support and a tightening of financing conditions. Investec up over 150%, MTN up 180%, and Thungela, the coal-mining company, up significantly.

“They must also move from responding to pandemics to preventing them by adopting a One Health approach that recognises that the health of people is closely tied to the health of animals and the natural environment.” Keep the powerful accountable .7%, and cut its forecast for China’s economic expansion by 0.  Malpass said that he’s “cautiously optimistic” that the initiative is at a turning point that will see more useful restructurings.