Climate emergency world’s biggest risk warns WEF

Extreme weather, failure of mitigation, major natural disasters, biodiversity loss, and human-made damage top a list of risks issued by the World Economic Forum ahead of its annual meeting of the global elite in Davos, Switzerland, next week.

The top five long-term global risks are, for the first time, all climate change and environment-related issues likely to have a significant global impact over the next decade. The global climate emergency is hitting harder and more rapidly than expected, according to the WEF’s latest Global Risks report published on Wednesday.

Peter Giger, group chief risk officer at Zurich Insurance Group, which helped to compile the report, told ENDS that “policymakers should make changes to the policy frameworks that affect price signals, such as tax, subsidies and the global CO2 price, in key sectors of the economy, to make sustainable investments profitable”.

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