Monday, January 24

Climate inaction is the number one threat globally – WEF


The World Economic Forum (WEF) Global Risk Report for 2022, released Tuesday, states that inaction on climate change issues represents the most critical threat to the world community.

Respondents to the Global Risk Perception Survey (GRPS), which underpins the WEF report, opined that a slow approach to climate issues could lead to a worsening of natural resource crises, geophysical disasters, human environmental disasters, extreme weather and loss of biodiversity.

“Our planet is on fire and we have to deal with that. This is a risk that we really already know about, so we cannot say that we are facing a blind spot, ”said WEF President Børge Brende.

The report – the 17the such, has been flagging inaction on climate change as a risk since 2011, but the issue has seen little material action from world leaders until recently.

Read:
Eskom CEO sees end of crisis in coal exchange
Developing countries will need $ 4 trillion to transition to renewables: OECD

However, the report indicates that with the presence of more immediate problems, such as a prevalent livelihood crisis that has been exacerbated by the coronavirus pandemic, as well as the erosion of social cohesion and deterioration in mental health, among others, the problems of climate change could continue to recede. seat to enable governments and businesses to address risks that pose a threat to global society in the short term.

balancing act

“It is very clear that leaders are looking at how to make climate change mitigation possible and how to manage this green transition. But what is also clear from the latest results of the report is that governments have a balancing act to work with, ”said WEF MD Saadia Zahidi.

“In the short term, there are a number of economic transitions that they also need to manage … the second area where they have to strike a balancing act is around employment and social cohesion,” Zahidi added.

Source: World Economic Forum Global Risks Report 2022

Erosion of social cohesion

The report found that the nearly two-year Covid-19 pandemic has compounded the erosion of social cohesion on a global scale.

South Africa was one of 31 countries, including Argentina, France, Germany and Mexico, out of a total of 124 that participated in the Executive Opinion Survey, where this problem was ranked as one of the top 10 short-term threats.

In light of the destruction that took place in parts of the country during the July 2021 riots, this finding should come as no surprise.

Driven by persistent economic, political and technological inequality, the erosion of social cohesion is one of the risks, along with inaction on climate change, which the report revealed has the potential to cause damage over the next decade.

Different views on vaccines and restrictions related to Covid-19, as well as issues related to racial justice and income disparities, are cited as the main factors contributing to this growing polarity.

“Disparities that were already challenging to societies are now expected to widen: 51 million more people are projected to live in extreme poverty compared to the pre-pandemic trend, at the risk of increasing polarization and resentment. within societies ”, the report reads.

The report added that growing disparities within societies have the potential to spill over into the global community, causing countries to prioritize their notation agendas and ultimately further divide the global economy, compromising cooperation and collaboration. foreign aid.

The world began to see evidence of this during the Covid-19 pandemic, where Western nations continued to stockpile vaccines at the expense of poor countries.

Read: Ramaphosa Says Rich Nations Are Hoarding Vaccines


www.moneyweb.co.za

Leave a Reply

Your email address will not be published. Required fields are marked *