Global Risks Report 2022

Table of Contents

Global Risks Report 2022: Relevance

GS 3: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.

Recently, World Economic Forum has released the 17^th edition of the Global Risks Report 2022 where the report has discussed the top five risks facing India.

The report tracks global risks perceptions among experts and world leaders in business, government and civil society.
The study examines risks across five categories—economic, environmental, geopolitical, societal, and technological.
Extreme weather was considered the world’s biggest risk in the short term and a failure of climate action in the medium and long term—two to 10 years.
Top global risks: Climate crisis, growing social divides, heightened cyber risks and uneven global recovery, as the coronavirus pandemic lingers on, are the top global risks over the next 10 years.
The report also said that diverging economic recoveries and the fallout of the pandemic threaten global cooperation on other challenges at a time when climate risks loom large.
Digitalisation: The increasing reliance on digital systems, which has only grown in the past two years, has made digital or cybersecurity threats more potent.

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Top 5 risks: disillusionment among youth, digital inequality, fracture of interstate relations, debt crises and failure of technology governance are the top 5 risks mentioned by the report.
The report summarises youth disillusionment as a societal problem, which includes youth disengagement, lack of confidence or trust of existing economic, political and social structures at a global scale.
The report was of the view that the disillusionment is negatively impacting social stability, individual well-being and economic productivity.

Global leaders must come together and adopt a coordinated multi-stakeholder approach to tackle unrelenting global challenges and build resilience ahead of the next crisis.

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