Aw, pity the poor billionaires. Maybe we should pass the hat.
By Soumya Sarkar
As the World Economic Forum met in Davos last month, the world’s economic leadership thinks environmental disasters and climate-related impacts are the biggest risks to global business in 2018.
The 2017 Atlantic hurricane season inflicted losses of more than USD 200 billion. Photo credit: Michelle Maria.
Global business and political leaders have said extreme weather events would likely pose the greatest threat to business and commerce in 2018, which marks a major departure from what they thought even 10 years ago when economic factors such as asset price collapses and oil and gas price hikes were perceived as major risks.
For the second year running, the economic leadership has rated extreme weather as the world’s biggest threat, according to the Global Risks Report 2018 released last month by the World Economic Forum (WEF) which started its annual meeting at the alpine resort of Davos in…
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