Global Risks Report 2023 - DTE - 16/01/23

Context:
Recently, the World Economic Forum (WEF) has released the 18th Edition of Global Risks Report 2023 which seeks that the world be prepared for ‘Natural disasters and extreme weather events’ in the next two years.
Relevance:
GS3
About:
->Findings of the Report:
i. Most Severe Risks: ‘Failure to Mitigate Climate Change’ and ‘Failure of Climate Change Adaptation’ are the two most severe risks facing the world in the next decade, followed by ‘natural disasters and extreme weather events’ and ‘Biodiversity loss and ecosystem collapse’.
ii. Climate Action and Biodiversity Loss: The world has struggled to make the required progress on climate change despite 30 years of global climate advocacy and diplomacy. Failure on climate action to address climate change’ has continued to figure among the top risks in the report since 2011.
iii. Reversal of Climate Mitigation Progress: Growing demands on public- and private-sector resources from the socio-economic short-term crises attributed to geopolitical tensions, will likely reduce the speed and scale of mitigation efforts over the next two years. These have, in some cases, also reversed progress on climate change mitigation, at least over the short term.
iv. Apprehensions and Threats: Over the next 10 years or by 2033, the interconnections between biodiversity loss, pollution, natural resource consumption, climate change and socioeconomic drivers will make for a dangerous mix.

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