Global Risk
The particularity of this Global Risks report is that it considers risks that are global in their nature and impact, such that they would have a widespread impact should they play out. The criteria for what constitutes a global risk have been set as follows:
Global Scope: To be considered global, a risk should have the potential to affect (including both primary and secondary impact) at least three world regions in at least two different continents. While these risks may have regional or even local origin, their impact can potentially be felt globally.
Cross-Industry Relevance: The risk has to affect three or more industries (including both primary and secondary impact).
Uncertainty: There is uncertainty about how the risk manifests itself within ten years combined with uncertainty about the magnitude of its impact (assessed in terms of likelihood and severity).
Economic Impact: The risk has the potential to cause economic damage of at 10 billion US$ or more; and/or Public Impact: The risk has the potential to cause major human suffering and to trigger considerable public pressure and global policy responses.
Multi-Stakeholder Approach: The risk’s complexity both in terms of its effects and its drivers as well as its inter-linkages with other risks require a multi-stakeholder approach for its mitigation.
Read more about this topic: Global Risks Report
Famous quotes containing the words global and/or risk:
“As the global expansion of Indian and Chinese restaurants suggests, xenophobia is directed against foreign people, not foreign cultural imports.”
—Eric J. Hobsbawm (b. 1917)
“The Englishman’s strong point is his vigorous insularity; that of the American his power of adaptation. Each of these attitudes has its perils. The Englishman stands firmly on his feet, but he who merely does this never advances. The American’s disposition is to step forward even at the risk of a fall.”
—Thomas Wentworth Higginson (1823–1911)