Above all, the corona crisis has exacerbated the social problems in the world and threatens social cohesion, the livelihoods of poorer people and mental health.

In the medium and long term, however, concerns about the climate dominate the list of the most serious risks for the earth.

These are the results of the annual survey of the World Economic Forum (WEF) in the Global Risk Report 2022, which was presented on Tuesday.

The crisis triggered by the coronavirus eroded social cohesion and undermined the material livelihoods.

With the current divergent economic recovery from the pandemic, the global division is intensifying, stressed WEF managing director Saadia Zahidi.

Philip Plickert

Business correspondent based in London.

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"The main risk is currently growing inequality and social crises," said WEF President Børge Brende when presenting the report.

The answer to this is "stakeholder capitalism".

This means that companies are becoming more aware of their responsibility to society and the environment.

Brende also counts the global supply chain problems and "enormous inflationary pressure" among the short-term consequences of the corona crisis.

In the survey, the managers, politicians and experts questioned also emphasize more problems with mental health, increasing debt and increasing threat to cybersecurity from hacker attacks among the short-term heightened risks.

"The planet is burning"

According to the survey, ecological risks will dominate over the next five to ten years. The survey participants are concerned that climate protection is failing, that there will be more extreme weather events and that biodiversity is declining. As on previous occasions, Brende, a former Norwegian Trade and Environment Minister, used the strong phrase "the planet is on fire". The UN climate change summit COP26 in Glasgow in the autumn brought progress towards the emission targets, but the promises were not implemented. This is more likely to lead to a warming of 2 degrees Celsius relative to the pre-industrial era.

Peter Giger, chief risk analyst at Zurich Versicherung, also emphasized the dangers posed by climate change. The economic and financial consequences of the Corona crisis made it harder to respond. The “green transformation” is necessary, but it will be “disruptive and disorderly,” said Giger. “As with any transformation, there will be winners and losers.” Entire industries and sectors would disappear. More and more companies see the transformation as a strategic opportunity. According to the WEF report, chaotic transformation is exacerbating inequalities in the world.

Many WEF respondents are also aware of the growing threat posed by hacker attacks on computer systems.

"Cyber ​​attacks are growing faster and are becoming more and more expensive," said Carolina Klint of the consulting and insurance brokerage firm Marsh.

Hackers steal or block data and want to extort a ransom.

The attacks are directed against critical infrastructure and other institutions, the regulation of the cybersphere is inadequate, warned Klint.

The race into space with space tourism is also a risk because space is increasingly being littered.