Environmental issues make up the top five risks to the global economy for the coming decade, organizers of next week's World Economic Forum in the Swiss ski resort of Davos said.
Catch up on the developing stories making headlines.LONDON -- Following another year of extreme heat and ice sheet melt, environmental issues are now considered to be the top five long-term risks confronting the global economy, organizers of next week's gathering of elites in the Swiss resort of Davos said Wednesday.
“The political landscape is polarized, sea levels are rising and climate fires are burning," said Borge Brende, president of the World Economic Forum. Those surveyed inthe WEF's Global Risks Report 2020 identified economic disputes as the number one risk to the global economy this year. For the longer-term outlook, however, environmental concerns accounted for the top five risks.
The pressure to turn things around doesn't just lie with government leaders. Company executives are also facing calls to change their business models to set aside anything that might worsen climate change. The trend was highlighted this week when BlackRock CEO Laurence Fink said his firm, which manages some $7 trillion for investors, will put climate change and sustainability at the heart of its investing approach.
The annual Davos meeting has been criticized over the years by those who say it's just a talking shop for leaders flying in their private jets to enjoy some winter snow.
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