The impact of high inflation, the debt crisis and the cost of living crisis are the biggest threats to doing business in the next two years in the G20, according to a survey recently published by the World Economic Forum.

Against this background, experts in the insurance market say that the transition to “net zero” CO2 emissions “is too far removed from the agenda of many business leaders”.

“After a jump of two billion tonnes in 2021, the increase in global CO2 emissions this year is much smaller at around 300 million tonnes. This is due to the increase in the use of renewable energy sources and electric cars. Despite these positive developments, we are still not on track to meet the 1.5 degree Celsius target. Going net zero is too far off the agenda for many business leaders. However, the effects of climate change are both long-term and long-term. Even in the current geopolitical and economically challenging environment, we must focus on building a cleaner, more affordable and safer energy system if we hope to preserve a net-zero future,” said Peter Gieger, Group Chief Risk Officer, Zurich Insurance. Group.

According to the survey results, rapid and/or persistent inflation is the main risk in the G20 countries surveyed this year, more than a third (37%), followed by the debt crisis and the cost of living crisis (21%). Other identified risks are geo-economic confrontation, the potential for state disintegration, lack of digital services on a large scale, and digital inequality.

“This year’s results are in stark contrast to last year’s, especially in key areas such as technology and environmental risks. Despite the growing pressure on the environment and regulation in this area, which has increased over the past 12 months, and if we take into account the adjustment of the list of risks examined this year in response to changing economic, geopolitical and environmental trends – environmental problems were significantly less present in the top 5 risks for the G20 countries. , despite the growing threat of cyberattacks on critical infrastructure, this and other technological risks are ranked among the five least frequently mentioned risks this year,” the expert study says.

Overall, the findings highlight significant regional differences between advanced economies and emerging markets, the study’s authors say. Thus, while economic risks related to rapid and/or persistent inflation were identified as the main risk by respondents in Europe, Latin America and the Caribbean, East Asia and the Pacific, societal issues related to the cost of living crisis, dominated the Middle East, Africa and sub-Saharan Africa. In Central and South Asia, interstate conflicts and debt crises, respectively, have overtaken concerns.

The executive survey was conducted from April to August 2022 by the World Economic Forum’s Center for the New Economy and Society and gathered the opinions of more than 12,000 business leaders from 122 countries.

Marsh is a Marsh McLennan Company (NYSE: MMC), a global leader in insurance brokerage and risk consulting with more than 45,000 employees.

With annual revenues of nearly $20 billion, Marsh McLennan supports clients in growing in a dynamic and complex environment through four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman.

(Source: Agerpres)