According to a new report published by the World Economic Forum, “present and future risks can…interact with each other to form a ‘polycrisis’ – a cluster of related global risks with compounding effects, such that the overall impact exceeds the sum of each part”.
The report was produced in partnership with Marsh McLennan and Zurich Insurance Group, and it highlights multiple global risks and is also a call to action to prepare the world for future shocks.
1200 experts from around the world were asked to rank risks from the most severe short term and long term risks. Experts ranked failure to mitigate climate change and failure of climate change adaption as the most severe long term (over 10 years) risks. The most severe short term risks included a cost of living crisis, natural disasters and geoeconomic confrontation, as well as climate change.
“Two years out, the experts are still expecting that the cost of living is going to be the number one risk on the global agenda. Ten years out, six of the top ten global risks are dominated by climate and the environmental risks associated with that, such as large-scale involuntary migration”, according to Saadia Zahidi, Managing Director at the World Economic Forum.
John Scott, Head of Sustainability Risk at Zurich Insurance Group, called for more public-private collabration and stated that “Solving climate change is the ultimate team sport. It isn’t just coming from one sector. It has to be governments, it has to be business, it has to be the finance sector to work together to really address these complex and systemic issues.”
The World Economic Forum has been the driver behind ESG and the Great Reset. For the past few years they have been pushing for a rapid transition away from fosso fuels but even they are admitting that transitioning too quickly is “creating an unprecedented demand for rare minerals and metals. The gap between demand and supply of these resources could have catastrophic consequences, including biodiversity loss, ecosystem collapse, trade wars and armed conflict between nations” the report warns.
Carolina Klint, Risk Management Leader for Continental Europe stated that “We need to take a step back and start planning for the unexpected. I think, generally speaking, most of the things that we worry about are too short term and modest. So, take a long-term and holistic view of the risks on the horizon. I do think that if we work together, we are able to prepare for and respond to these compounding risks with better agility.”
Don’t read this and think that they are taking a step back from their rapid transition away from fossil fuels. Chaos is the goal. Pain is the goal. They know that rapidly moving the world away from fossil fuels by 2030 without signficant pain isn’t possible. They know that it’s not possible to produce enough resources for you to maintain your current standard of life, but that is the key. You won’t be able to keep your current lifestyle if they get their way, because “By 2030, you’ll own nothing”.
The food crisis, the energy crisis, inflation, all of it is by design. All of it is caused by the Great Reset and ESG.
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