Climate change, cyber security and pandemics risk are currently the top preoccupations of risks managers and corporate C-levels globally. The 2021 edition of AXA’s Future Risks Report surveyed more than 23000 people from 60 countries, asking their opinions on the impact of 25 risks over the next decade.
Besides the never-ending health emergency, climate change has taken back its prime position on the list of top management concerns in Europe. The only year when this concern was taken off its throne was 2020, when clearly, the pandemics was a main concern for the managers. Instead, it is positioned as second in the US, third in Asia and the Orient, and only fourth in Africa.
Cyber risk goes back to second place after being third the previous year, everywhere except in the US, whereas the risk most feared, it has stayed on this place even last year. The percentage of respondents naming it in the top five risks increased from 54% in 2018 to 61% this year. Only 26% od them believe that governments are actually ready to face this risk. The pandemics has accelerated the digitalization in almost every economic sector. This has caused an increase of informational attacks executed by criminal organizations against institutions and governments, making this an area that will need to be put a lot of work in.
The pandemic risk has dropped to the third place this year in Europe in the US. However, it keeps its throne in Asia, the Middle East and in Africa. Also on this question, the respondents do not believe that public authorities can find efficient solutions, an information which, according to AXAs’ CEO Thomas Buberl, should be the incentive for creating new partnerships that will allow to go beyond the traditional protection mechanisms.
In fact, the confidence in the power of the traditional international collaboration is significantly higher: around 55% of the interviewed believes that the decisions undertaken at a global level will be useful in facing future risks.
Following is the complete list of the ranking for Europe:
