Full report
Published: 11 January 2022

Global Risks Report 2022

Contributors and Acknowledgements


Emilio Granado Franco
Head of Global Risks and Geopolitical Agenda

Melinda Kuritzky
Lead, Global Risks and Geopolitical Agenda

Richard Lukacs
Specialist, Global Risks and Geopolitical Agenda

Saadia Zahidi
Managing Director, World Economic Forum

At the World Economic Forum, a debt of gratitude is owed to Professor Klaus Schwab (Founder and Executive Chairman) and Børge Brende (President), under whose guidance this report has been produced.

This report has relied heavily on the dedication and expertise of the World Economic Forum Platform for Shaping the Future of the New Economy and Society as well as other members of the Global Risks Report 2022 team: Sakshi Bhatnagar, Aidan Manktelow, Jordynn McKnight, Giovanni Salvi, Jean-Philippe Stanway, Samuel Werthmüller and Yann Zopf.


We would like to thank our Strategic Partners, Marsh McLennan, SK Group, and Zurich Insurance Group, and particularly Daniel Glaser (President and Chief Executive Officer, Marsh McLennan), Chey Tae-won (Chairman and CEO, SK Group) and Mario Greco (Chief Executive Officer, Zurich Insurance Group). Thanks also to Carolina Klint (Managing Director, Risk Management Leader Continental Europe, Marsh), Lee Hyunghee (President, Social Value Committee, SK Group) and Peter Giger (Group Chief Risk Officer, Zurich Insurance Group).

Special gratitude is due to Guillaume Barthe-Dejean (Director, Chairman’s Office, SK Group), John Scott (Head of Sustainability Risks, Zurich Insurance Group) and Richard Smith-Bingham (Executive Director, Marsh McLennan Advantage) for their contributions throughout the planning and drafting of the report.

We are also grateful to our three Academic Advisers: the National University of Singapore, the Oxford Martin School at the University of Oxford, and the Wharton Risk Management and Decision Processes Center at the University of Pennsylvania.

The report has greatly benefited from the insight and expertise of the members of the Global Risks Report Advisory Board: Rolf Alter (Hertie School of Governance), Gabriella Bucher (Oxfam), Sharan Burrow (International Trade Union Confederation), Winnie Byanyima (UNAIDS), Marie-Valentine Florin (International Risk Governance Center), Charles Godfray (Oxford Martin School), Al Gore (Generation Investment Management), Lee Hyung-Hee (SK Group), Carolyn Kousky (Wharton Risk Management and Decision Processes Center), Pascal Lamy (Jacques Delors Institute), Robert Muggah (Igarapé Institute), Moisés Naím (Carnegie Endowment for International Peace), Carlos Afonso Nobre (University of São Paulo), Naomi Oreskes (Harvard University), Jonathan Ostry (International Monetary Fund), Carol Ouko-Misiko (Institute of Risk Management), Eduardo Pedrosa (Pacific Economic Cooperation Council), Danny Quah (National University of Singapore), Daniel Ralph (Cambridge Centre for Risk Studies), Samir Saran (Observer Research Foundation), John Scott (Zurich Insurance Group), Richard Smith-Bingham (Marsh McLennan), Effy Vayena (Swiss Federal Institute of Technology Zurich), Charlotte Warakaulle (CERN), Beatrice Weder di Mauro (Graduate Institute Geneva), Ngaire Woods (University of Oxford) and Alexandra Zapata (New America).

We would also like to thank SalesForce (Natalia Latimer, Vice President of Executive Engagement), Tableau (Neal Myrick, Vice President of Social Impact), and Lovelytics (Eric Balash) for the design of the interactive global risks data visualization.


We are grateful to the following individuals from our Strategic Partners, Academic Advisers and Risk Communities.

Marsh McLennan: Rob Bailey, Amy Barnes, Francis Bouchard, Jerome Bouchard, Kate Bravery, Darrel Chang, Cheryl Cosslett, James Crask, Apoorv Dabral, Simon Glynn, Garrett Hanrahan, Ben Hoster, Rachel Juay, Stephen Kay, Christopher Labrecque, Siobhan O'Brien, Deepakshi Rawat, Jillian Reid, Claudio Saffioti, Reid Sawyer, Chris Smy, Sarah Stephens, Neil Frank Stevens and Scott Stransky.

Zurich Insurance Group: Paige Adams, Ines Bourbon, Laura Castellano, John Corless, Oliver Stephen Delvos, Daniel Eherer, Matt Holmes, Wen Lin, Sean McAllister, Guy Miller, Eugenie Molyneux, Darren Nulty, Pavel Osipyants, Timothy Powell and Alessio Vinci.

SK Group: Ilbum Kim.

National University of Singapore: Tan Eng Chye and Ho Teck Hua.

Oxford Martin School: Julian Laird

Wharton: Howard Kunreuther.

Global Future Council on Frontier Risks: Eric Parrado (Inter-American Development Bank, Council Co-Chair), Ngaire Woods (Universityof Oxford, Council Co-Chair), Clarissa Rios Rojas (University of Cambridge, Council Fellow), Deborah Ashby (Imperial College London), Elhadj As Sy (Kofi Annan Foundation), Nayef Al-Rodhan (University of Oxford), Guillaume Barthe-Dejean (SK Group), Nita A. Farahany (Duke University), Pascale Fung (Hong Kong Universityof Science and Technology), Alexander Gabuev (Carnegie Moscow Center), Florence Gaub (EU Institute for Security Studies), Sergei Guriev (Sciences Po), Orit Halpern (Concordia University), Maha Hosain Aziz (New York University), Meng Ke (Tsinghua University), Patricia Lerner (Greenpeace International), Liu Meng (UN Global Compact), Amrita Narlikar (German Institute for Global and Area Studies), Maria Soledad Nuñez Mendez (UCOM University), Jake Okechukwu Effoduh (Global Shaper), Peter Piot (London School of Hygiene and Tropical Medicine), John Scott (Zurich Insurance Group), Richard Smith-Bingham (Marsh McLennan), Tatiana Valovaya (United Nations Geneva), Gail Whiteman (Lancaster University Management School), Michele Wucker (Gray Rhino & Company) and Daria Zakharova (International Monetary Fund).

Chief Risk Officers Community: Stacy Allen (Lord Abbott), Bob Blakely (Team8), Christian Bluhm (UBS AG), Brenda Boultwood (International Monetary Fund), Dzhangir Dzhangirov (Sberbank), Giancarlo Fancel (Generali), Sebastian Fritz-Morgenthal (Bain & Company Inc.), Peter Giger (Zurich Insurance Group), Jan Hansen (Novartis), Bahare Heywood (Clifford Chance LLP), Aaron Karczmer (PayPal), Alfred Kibe (Mastercard), Cindy Levy (McKinsey & Company), Giselle Lim (Takeda Pharmaceutical Company), Domingo Mirón (Accenture), Jody Myers (The Western Union Company), Heike Niebergall-Lackner (International Committee of the Red Cross), Deepak Padaki (Infosys Limited), Hanne Raatikainen (Office of the United Nations High Commissioner for Refugees), Tad Roselund (Boston Consulting Group), Nidhi Seksaria (Mahindra Group), Taalib Shah (Barclays), Lakshmi Shyam-Sunder (World Bank), Richard Smith-Bingham (Marsh McLennan), Matthew Snyder (Centene Corporation), Jacob van der Blij (GAVI), Susan Yasher (Deloitte ToucheTohmatsu Limited) and Yong Seop Yum (SK Group).


A special thanks to experts who contributed to our thematic and regional consultations.

Chapter 2

Alison Bewick (Nestlé), Jennifer Clazure (World Economic Forum), Dzhangir Dzhangirov (Sberbank), Charles Godfray (Oxford Martin), Brad Hall (Office of Al Gore), Akanksha Khatri (World Economic Forum), Marie Quinney (World Economic Forum), Graeme Riddell (Marsh Advisory) and Nidhi Seksaria (Mahindra Group).

Chapter 3

Paige H. Adams (Zurich Insurance), Kristian Burkhardt (Accenture), Jaya Baloo (Avast Software), Christian Bluhm (UBS AG), Kristian Burkhardt (Accenture), Daniel Dobrygowski (World Economic Forum), Marie-Valentine Florin (International Risk Governance Center), Genevieve Gimbert (PwC), Akshay Joshi (World Economic Forum), Joseph Nocera (PwC), Algirde Pipikaite (World Economic Forum), Rafal Rohozinski (Secdev Group; Zeropoint Security), Vishal Salvi (Infosys), Dmitry Samartsev (BI.ZONE), Scott Stransky (Marsh McLennan) and Effy Vayena (Swiss Federal Institute of Technology).

Chapter 4

Alexander Betts (Oxford University), Bina Desai (Internal Displacement Monitoring Centre), Andrej Kirn (World Economic Forum), Alfredo Malaret (United Nations Institute for Disarmament Research), Marie McAuliffe (International Organization for Migration), Dilip Ratha (World Bank), Miriam Schive (World Economic Forum) and Amali Tower (Climate Refugees).

Chapter 5

Nayef Al-Rodhan (Oxford University), Nikolai Khlystov (World Economic Forum) and Jamie Morin (The Aerospace Corporation).

Europe: 7 July 2021

Alison Bewick (Nestlé), Catherine De Vries (Bocconi University), Katie Henry (Ernest & Young), Louise Marie Hurel (London School of Economics), Joachim Isaacson (UK Armed Forces), Peter Kalotai (European Bank for Reconstruction and Development), Quentin Ladetto (Armasuisse), Pascal Lamy (Jacques Delors Institute), Ian Livsey (Institute for Risk Management ), Esther Lynch (European Trade Union), Maurizio Quintavalle (Marsh McLennan), Hanne Raatikainen (Office of the United Nations High Commissioner for Refugees), Michael Sparrow (World Meteorological Organization), Jacob Van der Blij (GAVI), Lisa Walker (Ecosphere+), Gail Whiteman (University of Exeter Business School) and Susan Wilding (CIVICUS).

Latin America: 13 July 2021

Asdrubal Aguiar Aranguren (Democratic Initiative of Spain and the Americas), Cynthia Arnson (Woodrow Wilson International Center for Scholars), Ricardo Ávila (Portafolio/El Tiempo), Tiago Berriel (Banco BTG Pactual), Luis Bravo (Breca), Antonio de Aguiar Patriota (Government of Brazil), Paula Escobar (La Tercera), Marcela Escobari (Brookings Institution), Luis Fernando Mejía (Fedesarrollo), Mónica Forero (Zurich Insurance), Henrique Fragelli (Nubank), Rafaela Guedes Monteiro (Petroleo Brasileiro), Gerardo Herrera (Marsh McLennan), Enrique Iglesias (AstUr Foundation), Joaquim Levy (Banco Safra), Valeria Moy (Mexican Institute for Competitiveness), Alvin Ortega (Banco Nacional de Panamá), Rafael Palacios Prado (Sociedad de Fomento Fabril), Eric Parrado (InterAmerican Development Bank), Luis Adrián Salazar (University of Costa Rica) and Arturo Sarukhan (Sarukhan + Associates LLC).

North America: 13 July 2021

Tegan Blaine (United States Institute of Peace), David Bloom (Harvard T.H. Chan School of Public Health), Brenda Boultwood (International Monetary Fund), David Bray (Atlantic Council), Jasmina Byrne (UNICEF), Alexis Crow (PwC), DanielDrezner (The Fletcher School at Tufts University), Jean-Marie Guehenno (Columbia University), Sherri Goodman (Wilson Center), Maha Hosain Aziz (New York University), Aaron Karczmer (PayPal), Carolyn Kousky (Wharton Risk Center), Sonia Kundi (Zurich Insurance Group), Robert Litwak (Wilson Center), Robert Muggah (Igarapé Institute), Lakshmi Shyam-Sunder (World Bank), Adam Tooze (Columbia University), Olivia White (McKinsey & Company) and Michele Wucker (Gray Rhino & Company).

Asia: 21 September 2021

Mushtak Al-Atabi (Heriot-Watt University), Kanti Bajpai (Lee Kuan Yew School of Public Policy, National University of Singapore), Adila Binte Shahrin (Lee Kuan Yew School of Public Policy, National University of Singapore), Tek Yew Chia (Oliver Wyman), Lee Geun (Korea Foundation), Ziad Haider (McKinsey),Yee-Kuang Heng (University of Tokyo), Debora Ianuzzi (Zurich Insurance Group), Peter Jennings (Australian Strategic Policy Institute), Olivia Jensen (Lloyd’s Register Foundation Institute for the Public Understanding of Risk), Prakash Kannan (Government of Singapore Investment Corporation), Lynn Kuok (Shangri-La Dialogue), Huong Le Thu (Australian Strategic Policy Institute), Meng Liu (UN Global Compact China), Anita Prakash (Economic Research Institute for ASEAN), Danny Quah (Lee Kuan Yew School of Public Policy, National University of Singapore), Steve Rhee (Ford Foundation), Hersh Shah (Institute of Risk Management, India Affiliate), Lutfey Siddiqi (National University of Singapore, Risk Management Institute), Anjhula Mya Singh Bais (Amnesty International), Louise Tang (Lee Kuan Yew School of Public Policy, National University of Singapore), Chathuni Uduwela (TikTok), Catherine Wong (Lloyd’s Register Foundation Institute for the Public Understanding of Risk), Eden Woon (Asian Institute of Technology) and Janson Yap (National University of Singapore).


In addition to those mentioned above, we extend our thanks to the following colleagues for their time and help: Marisol Argueta, Sophie Brown, Diego Bustamante, Arnaud Colin, Roberto Crotti, Ana del Barrio, Attilio di Battista, Beatrice Di Caro, Mirek Dušek, Jaci Eisenberg, Harry Gray Calvo, Kateryna Gordiychuk, Nikhil Kamath, Patrice Kreidi, Gayle Markovitz, Adrian Monck, Eoin Ó Cathasaigh, Nicholai Ozan, Jennifer Perez, Robin Pomeroy, Eduardo Rezende, Katja Rouru, Kirsten Salyer, Miriam Schive, Paul Smyke, Pierre Saouter, Olga Spirina, Jackson Spivey and Vesselina Stefanova Ratcheva.

Design and Production: Thank you to all those involved in the design and production of this year’s report. At the World Economic Forum: Sakshi Bhatnagar, Javier Gesto, Floris Landi, Jordynn McKnight, Liam Ó Cathasaigh, and Jean-Philippe Stanway. And our external collaborators: Hope Steele (editing); and Andrew Wright (writing and editing). Special thanks to Patrik Svensson for his artistic contributions.

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