Sombre outlook for global recovery, with climate change the top risk

Only one in 10 World Economic Forum members surveyed expects the global recovery to accelerate over the next three years, a poll of nearly 1,000 business, government and academic leaders found, with only one in six optimistic about the world outlook.

“Global leaders must come together and adopt a co-ordinated multi-stakeholder approach to tackle unrelenting global challenges and build resilience ahead of the next crisis,” WEF MD Saadia Zahidi said. Agreement at the UN COP26 climate conference in November was widely applauded for keeping alive prospects of capping global warming at 1.5°C, but many of the nearly 200 nations had wanted to leave the conference in Glasgow with more.“Failure to act on climate change could shrink global GDP by one-sixth and the commitments taken at COP26 are still not enough to achieve the 1.5°C goal,” Peter Giger, group chief risk officer at Zurich Insurance, which helped to compile the report, said.

The prospect of 70,000 satellite launches in coming decades, in addition to space tourism, raises risks of collisions and increasing debris in space, amid a lack of regulation.

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