Global Risks Report 2018

TL;DR

The 2018 Global Risks Report highlights climate change, economic risks, cybersecurity, and the need for proactive action.

Transcript

coming in late welcome to everyone joining us on the web stream my name is Adrian Monk from the World Economic Forum and this is a press conference to launch our global risks report for 2018 I'm joined here with our panelists my colleague margarita drew canoes who is going to be explaining some of the key points of this year's report by two of our ... Read More

Key Insights

• 😀 Asia faces geopolitical and natural disaster risks, while Latin America deals with governance issues.
• 🌍 Urgent need for balancing national and international interests to avoid breakdown of the multilateral trading system.
• 🌐 The importance of international cooperation and meaningful action to address global risks effectively.
• ❓ Increased focus on inclusive growth, environmental sustainability, and societal well-being in economic models.
• ✳️ Cyber insurance industry growth to cover evolving cybersecurity risks and support risk assessment efforts.
• 🌐 Regional engagements at Davos facilitate multi-stakeholder dialogues on global challenges.
• 👨‍💼 Call for businesses to embrace responsible practices and address climate change for sustainable growth.

Questions & Answers

Q: How are businesses addressing the increasing risks of cyberattacks, and how does the insurance industry handle insuring against cyber risks?

The cyber insurance market is growing but still insufficient to cover the vast cyber risk exposure. Insurers are focusing on risk assessment and capacity expansion, while businesses are improving cybersecurity measures.

Q: How does the Global Risks Report propose reforms to the market capitalism model, and what are the key areas of focus for change?

The report calls for evaluating economic success beyond GDP, focusing on inclusive growth and addressing structural challenges, including environmental sustainability, inequality reduction, and responsible business practices.

Q: What role does the United States play in mitigating global risks, and how can international cooperation help address the identified challenges?

The U.S. remains a crucial player in combating risks, urging cooperation between global stakeholders and acknowledging the importance of collective security and environmental protection.

Q: Are there regional differences in risk exposure, regional engagement in Davos, and how does the report address scenarios like the potential death of the trade system?

Regions vary in risk exposure, with different areas focusing on specific risks. Davos fosters dialogue on global issues, while future scenarios like trade disruption are included to stimulate proactive discussion and risk mitigation strategies.

Summary & Key Takeaways

• Discussion of key topics including environment, cybersecurity, economics, and geopolitics.

• The report emphasizes accelerating changes and systemic risks with catastrophic consequences.

• Urgency for global leaders to address risks while taking advantage of positive economic trends.