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Global Risks Report 2019 Overview

The Global Risks Report is an annual study published by the World Economic Forum that describes changes in global risks and considers their interconnectedness. It explores strategies for mitigating risks. The report is based on assessments from insurance companies and workshops with experts. It aims to increase awareness of the need for multi-stakeholder cooperation to address risks that could have widespread impact across regions, industries, and continents.

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17 views1 page

Global Risks Report 2019 Overview

The Global Risks Report is an annual study published by the World Economic Forum that describes changes in global risks and considers their interconnectedness. It explores strategies for mitigating risks. The report is based on assessments from insurance companies and workshops with experts. It aims to increase awareness of the need for multi-stakeholder cooperation to address risks that could have widespread impact across regions, industries, and continents.

Uploaded by

Satyender Kumar Jain
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Global Risks Report

From Wikipedia, the free encyclopedia


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The Global Risks Report is an annual study published by the World Economic Forum ahead of the
Forum’s Annual Meeting in Davos, Switzerland. Based on the work of the Global Risk Network, the
report describes changes occurring in the global risks landscape from year to year. The report also
explores the interconnectedness of risks, and considers how the strategies for the mitigation of
global risks might be structured.
Sources for the report include an assessment by several major insurance and reinsurance
companies and focus workshops, interviews and a survey of internationally recognised experts. The
report is intended to raise awareness about the need for a multi-stakeholder approach to the
mitigation of global risk.

Global risk[edit]
The particularity of this Global Risks report is that it considers risks that are global in their nature and
impact, such that they would have a widespread impact should they play out. The criteria for what
constitutes a global risk have been set as follows:

• Global scope: To be considered global, a risk should have the potential to affect (including both
primary and secondary impact) at least three world regions in at least two different continents.
While these risks may have regional or even local origin, their impact can potentially be felt
globally.
• Cross-industry relevance: The risk has to affect three or more industries (including both
primary and secondary impact).
• Uncertainty: There is uncertainty about how the risk manifests itself within ten years combined
with uncertainty about the magnitude of its impact (assessed in terms of likelihood and severity).
• Economic impact: The risk has the potential to cause economic damage of at 10 billion US$ or
more; and/or Public Impact: The risk has the potential to cause major human suffering and to
trigger considerable public pressure and global policy responses.
• Multi-stakeholder approach: The risk’s complexity both in terms of its effects and its drivers as
well as its inter-linkages with other risks require a multi-stakeholder approach for its mitigation.

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