Climate change is the global economy’s biggest long-term challenge but one the world is least prepared to tackle because of short-term problems led by a cost-of-living crisis, the World Economic Forum said in a report Wednesday.
The report based on ” survey of 1,200 risk experts, industry bosses and policymakers says the biggest challenges over the next decade involve the environment, yet more immediate challenges are distracting world leaders, some of whom will be in Davos for panel discussions and schmoozing at an event that has faced criticism for not producing concrete action.
Out of the top 10 long-term challenges, respondents said the top four are climate related: failure to limit or adapt to climate change; natural disasters and extreme weather; biodiversity loss; and ecosystem collapse.
Top of the list of challenges over the next two years is a cost-of-living crisis sparked by the COVID-19 pandemic and Russia’s war in Ukraine, which has sent food and energy prices soaring, squeezing household finances worldwide.
