CourtHeath ConsultingCourtHeath Consulting CourtHeath ConsultingCourtHeath Consulting
  • Home
  • Services
  • Blog
  • About us
    • Our people
    • Our story
    • Panels & Clients
  • UN Global Compact
    • UNGC Statement
  • Resources
    • Our policies
    • Reconciliation Action Plan
    • Documents
    • FAQ
  • Contact us +
    • Where to find us:

      CourtHeath Consulting
      Level 30, 35 Collins Street.
      Melbourne 3000

      Contact No: 04 21 167 746 0421167746

      Email: info@courtheath.com.au

      Tram: Elizabeth Street – Stop 8.

      Contact form:







        Your Name (required)

        Your Email (required)

        Subject

        Your Message

    08 Feb

    Global Risks Report 2023, part one

    Courtheath's blog
    By CourtHeath Consulting

    This year’s Global Risks Report offers a sobering examination of the risks and prospects of our 21st century, global landscape.

    According to the Global Risks Report 2023, the world is confronting a combination of both familiar and unprecedented risks, reflecting the continued global turmoil that has characterised the opening years of this decade. There is the reappearance of “older risks” such as inflation, cost of living issues, social upheaval, geopolitical tensions and the threat of nuclear war, with these risks exacerbated by excessive debt levels, de-globalisation, unchecked technological advancements, and the intensifying effects of the climate emergency.

    In an effort to understand the complexities of, and the interconnections between, these and other global risks, and with the hope of finding a pathway to a more secure world, the Report offers three time frames: 1) Current and emerging, 2) Long-term (10 years), and 3) Mid-term futures, which explores how connections between current and long-term risks could potentially create a “polycrisis” fuelled by a natural resources shortage by 2030. The Report concludes with strategies that could help us prepare a course to a more “resilient world”.

    In part one of this blog series, we offer a brief description of the Global Risks Report, and give an overview of the first of the three time frames: current and emerging risks.

    What is the Global Risks Report? 

    The Global Risks Report is an annual publication produced by the World Economic Forum (WEF). The report assesses a wide range of global risks, including economic, environmental, geopolitical, societal, and technological risks, and highlights the potential impact of these risks on the world. The report also identifies interconnections between risks and provides insights on how to mitigate them.

    Presenting the results of the latest Global Risks Perception Survey (GRPS) and drawing on the WEF’s Executive Opinion Survey, the Global Risk Report 2023 is important because it provides a comprehensive and forward-looking perspective on the risks that are most likely to affect the global community in the coming years. It is widely read by government leaders, business executives, academics, and other stakeholders. Additionally, the Report helps to raise awareness of the most pressing global risks and to encourage collaboration and action to address them.

    Current and emerging risks

    Some of the most significant current global risks for 2023 chosen by the 2022-2023 GRPS include:

    • Energy supply crisis
    • Cost-of living crisis
    • Rising inflation
    • Food supply crisis
    • Cyber attacks on critical infrastructure.

     Outside of the top five, but of particular concern include:

    • Failure to meet net zero targets
    • Weaponisation of economic policy
    • Weakening of human rights
    • A debt crisis
    • Failure of non-food supply chains.

    It’s worth mentioning other currently manifesting risks such as continued waves of COVID-19, and structural failures in health systems not only feed into the debt crisis, but also shorten human health and life spans.

    These complex and in some cases, interconnected risks are common, daily headlines, yet, as the Report states, “their implications are profound. Our global ‘new normal’ is a return to basics – food, energy, security – problems our globalised world was thought to be on a trajectory to solve.”

    In terms of the path to 2025, the news isn’t much better. In fact, respondents to the GRPS predict it will be “dominated by social and environmental risks, driven by underlying geopolitical and economic trends.” Along with Societal polarisation, a significant part of this section of the Report is dedicated to the Failure to mitigate climate change, which is ranked as “one of the most severe threats in the short term but is the global risk we are seen to be the least prepared for, with 70% of GRPS respondents rating existing measures to prevent or prepare for climate change as ‘ineffective’ or ‘highly ineffective’.”

    Next week we look at Global Risks 2033: Tomorrow’s Catastrophes and how these emergent risks can be reduced by collective action today.

    * * *

    IMAGE: Used under licence from shutterstock.com

    * * *

    A participant in the UN Global Compact, CourtHeath Consulting seeks to raise awareness about the Sustainable Development Goals and the principles of the Global Compact with business and government organisations in Victoria.

    * * *



    Written by Wendy Cavenett and Elizabeth Tower

    [category courtheath's blog]

    [#globalrisksreport, #climateemergency, #postpandemicworld]

    CourtHeath Consulting

    CourtHeath Consulting provides expert procurement and probity advice to government and not for profit organisations. We provide specialist consulting services about procurement issues and organisational procurement operations – as well as management of simple and complex tender processes. Our probity audit and advisory services help clients meet government probity standards especially regarding conflict of interest, confidentiality, ethical conduct and corruption risks.

    Recent Posts

    • Cultural Diversity and Dialogue
    • The UNGCNA 2024 Impact Report
    • Earth Day 2025: Our Power, Our Planet
    • Spotlight on Public Sector Integrity
    • Supplier Code of Conduct: Probity Risks

    Archives

    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • March 2024
    • February 2024
    • December 2023
    • November 2023
    • October 2023
    • August 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • August 2022
    • July 2022
    • May 2022
    • March 2022
    • February 2022
    • December 2021
    • November 2021
    • September 2021
    • August 2021
    • June 2021
    • April 2021
    • March 2021
    • February 2021
    • December 2020
    • November 2020
    • September 2020
    • August 2020
    • July 2020
    • April 2020
    • March 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • June 2019
    • May 2019
    • March 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • October 2017
    • September 2017
    • August 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • December 2016
    • November 2016
    • October 2016
    • September 2016
    • August 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • February 2016
    • January 2016
    • December 2015
    • Home
    • Services
    • About us
      • Our People
      • Our story
      • Panels & Clients
    CourtHeath logo
    • Blog
    • UN Global Compact
    • Resources
      • Our policies
      • Documents
      • FAQ
    Linkedin     X Social
    • CONTACT US

    CourtHeath Consulting

    Level 30, 35 Collins Street.

    Melbourne 3000

    Contact No: 0421 167 746

    Email: info@courtheath.com.au

    Tram: Spring Street - Stop no 8


    Copyright 2021 © CourtHeath Consulting · Australia. All Rights Reserved.