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Article

19 Jan 2016

Author:
Larry Elliott, Guardian (UK)

World Economic Forum expert survey finds climate change is biggest threat to global economy

"Climate change disaster is biggest threat to global economy in 2016, say experts", 14 Jan 2016

A catastrophe caused by climate change is seen as the biggest potential threat to the global economy in 2016, according to…the World Economic Forum…The report…cited links between climate change and involuntary migration or international security, noting that these often had “major and unpredictable impacts”…Cecilia Reyes, Zurich’s chief risk officer, said: “Climate change is exacerbating more risks than ever…Meanwhile, geopolitical instability is exposing businesses to cancelled projects, revoked licences, interrupted production, damaged assets and restricted movement of funds across borders…”…“Events such as Europe’s refugee crisis and terrorist attacks have raised global political instability…” said John Drzik, president of Marsh Global Risk and Specialties. “This is widening the backdrop of uncertainty against which international firms will increasingly be forced to make their strategic decisions. The need for business leaders to consider the implications of these risks on their firm’s footprint, reputation and supply chain has never been more pressing.”…

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