Risk Management

Climate, inflation and war dominate global risk landscape

The economic and political consequences of the Russia-Ukraine war have had a significant impact on the global risk outlook, elevating ‘cost-of-living crises’ to first position on a two-year risk view, and geo-economic confrontation to third. According to the World Economic Forum (WEF) Global Risks Report 2023, produced in partnership with Marsh McLennan and Zurich Insurance Group, “the first years of this decade have heralded a particularly disruptive period in human history”. The report is based on a Global Risk Perception Survey (GRPS), which “brought together leading insights on the evolving global risks landscape from over 1 200 experts across academia, business, government, the international community and civil society”.

Allianz Risk Barometer 2023: Critical infrastructure blackouts and cyber top threats in South Africa as energy and Nat Cat risks rise

Global Risks 2023: Tensions Peak between Urgent Cost of Living Crisis and Sustainable Climate Action

Red flag risks for 2023

International safety and risk consultancy Riskonet has flagged several risk concerns for South Africa in 2023. These include political upheaval; financial volatility; the ongoing energy crisis; the deterioration of infrastructure; the migration of skilled labour to safer and more stable countries; an increase in violent crime; low investor confidence; and climate change.