Climate change, debt and inequality ‘threaten financial stability’ says World Economic Forum

Posted on 09. Jan, 2013 by in News

‘Persistent economic weakness is sapping the ability of governments to tackle the growing threat of climate change and risks a global ‘perfect storm’ of intertwined financial and ecological collapse’.

This was the conclusion of the latest World Economic Forum annual Global Risks report which represents the opinion of 1000 experts. Widening income disparities chronic fiscal imbalances and rising greenhouse gas emissions were the three most pressing threats to emerge over the coming decade for the second year in a row. Lee Howell, the report’s editor, says that this lack of change represents ‘a feeling that we are not making progress. We are not seeing the state leadership necessary to tackle these risks’. Howell cited the immediate challenge of coping with economic problems as the reason governments were reluctant to address the long-term threat of climate change. Critically, the report makes the observation that an economic collapse will result in an ecological collapse, and vice versa – the two are directly connected.

Read further about the report on the Guardian here

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