Global Risks 2025: A world of growing divisions1 The current geopolitical climate, following Russia’s invasion of Ukraine and with wars raging in the Middle East and in Sudan, makes it nearly impossible not to think about such events when assessing the one global risk expected to present a material crisis in 2025: close to one-quarter of survey respondents (23%) selected State-based armed conflict (proxy wars, civil wars, coups, terrorism, etc.) as the top risk for 2025 (Figure 1.1). Compared with last year, this risk has climbed from #8 to #1 in the rankings. Geopolitical tensions are also associated with the rising risk of Geoeconomic confrontation (sanctions, tariffs, investment screening), ranking #3, which is also driven by Inequality, Societal polarization and other factors. The risks associated with Extreme weather events also is a key concern for the year ahead, with 14% of respondents selecting it. The burden of climate change is becoming more evident every year, as pollution from continued use of fossil fuels such as coal, oil and gas leads to more frequent and severe extreme weather events. Heatwaves across parts of Asia; flooding in Brazil, Indonesia and parts of Europe; wildfires in Canada; and hurricanes Helene and Milton in the United States are just some recent examples of such events. Similar to last year, Misinformation and disinformation and Societal polarization remain key current risks, in positions #4 and #5 respectively. The high rankings of these two risks is not surprising considering the accelerating spread of false or misleading information, which amplifies the other leading risks we face, from State-based armed conflict to Extreme weather events. A sense of increasingly fragmented societies is reflected by four of the top 10 risks expected to present a material crisis in 2025 being societal in nature: Societal polarization (6% of respondents), The world in 2025 1.1 Current Risk Landscape FIGURE 1.1 "Please select one risk that you believe is most likely to present a material crisis on a global scale in 2025 (top 10 risks selected risks by respondents)." State-based armed conﬂict Extreme weather events Geoeconomic confrontation Misinformation and disinformation Societal polarization Economic downturn Critical change to Earth systems Lack of economic opportunity or unemployment Erosion of human rights and/or civic freedoms Inequality Share of respondents (%) Source World Economic Forum Global Risks Perception Survey 2024-2025.Risk categories Economic Environmental Geopolitical Societal Technological Global Risks Report 2025 13