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Context: Recently, the World Economic Forum (WEF) has released the 20th edition of the Global Risks Report.
Global risk is the potential for an event to significantly harm global GDP, population, or natural resources.
The report has considered various risks like geopolitical, environmental, societal and technological domains that threaten global stability and progress.
These risks are assessed over both short-term (1-2 years) and long-term (10 years) horizons.
Short Term Risks: Misinformation and disinformation remain leading short-term risks, eroding trust and exacerbating societal divides.
Other critical short-term risks include extreme weather events, state based armed conflicts, societal polarization, and cyber threats such as espionage and warfare.
Long Term Risks: The important long-term risks include extreme weather events, biodiversity loss & ecosystem collapse and critical change to earth systems.
Technological threats such as misinformation and adverse outcomes from AI also pose long term risks.
The report mentions that societal vulnerabilities such as Inequality, societal polarisation, and economic instability contribute to global fragility, complicating efforts for collective action.
It urges leaders to prioritize dialogue, strengthen international ties, and foster conditions for renewed collaboration to ensure a sustainable and inclusive future.
About: WEF is an international organization for public-private cooperation, headquartered in Geneva, Switzerland.
It engages global leaders to shape agendas across industries, regions, and globally.
Foundation: It was founded by Klaus Schwab in 1971 as the European Management Forum, WEF emphasizes long-term benefits for all stakeholders, not just short-term profits for shareholders.
Evolution: In 1973, the WEF expanded its focus to economic and social issues. It introduced membership for the world’s leading 1,000 companies in 1975.
In 1987, it became the World Economic Forum, broadening its role as a platform for dialogue. It was recognized as an international organization in 2015.
Major Reports: WEF publishes key reports, including the Global Competitiveness Index, Global Gender Gap Index, Energy Transition Index, Global Risk Report, and Global Travel and Tourism Competitiveness Index.
By: Shubham Tiwari ProfileResourcesReport error
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