one that has been most consistently perceived as experiencing a clear ongoing systemic shift. Environmental risks have dramatically increased in ranking over the 10-year time horizon since the introduction of the Global Risks Report in 2006, and in recent years continuously rank as severe concerns. The highest-ranking environmental risks over the last 20 years have been Critical change to Earth systems, Extreme weather events, Natural resource shortages and Pollution, as highlighted in the upper-left quadrant of Figure 2.17. As the effects of Climate change-induced events and developments have become more visible over time, and public awareness of their implications has risen, the rankings of environmental risks have continued to rise. The clearest example is Extreme-weather events, currently ranked as the #1 risk for the next 10 years. Since 2014, it has consistently ranked as a top 6 risk (Figure 2.18). From 2017-2020 it ranked as the top risk and has retaken that spot since 2024. The ranking of Extreme weather events has tended to rise as such events have worsened in intensity and frequency. Extreme weather events are becoming more common and expensive, with the cost per event having increased nearly 77%, inflation-adjusted, over the last five decades.90 The effects of climate change-driven Extreme weather events are being felt across the world and often hit the poorest communities the hardest. Global heat records continue to be broken.91 The Pollution risk demonstrates shifting prominence over time in the 10-year risk outlook. First introduced in 2009, Pollution risk initially encompassed Air pollution and nanoparticles pollution (paint, cosmetics, healthcare). Over the subsequent 10 years, the risk evolved in concept and rose in perceived importance (Figure 2.19). In 2017, Human-made environmental damage and disasters (e.g. oil spills, radioactive contamination, etc.) ranked #7 and entered the top 10 risks over the 10-year horizon. Ever since, concerns about Pollution, according to our historical GRPS data, have remained a top 10 long-term risk, and this year also ranked #6 over the two-year time horizon. Among the other environmental risks, Critical change to Earth systems jumped in ranking in the 10-year risk outlook from #21 in 2013 to #4 in 2014 and has been in the top five ever since, aside from 2017 when it was #6. Biodiversity loss and ecosystem collapse has experienced one of the largest increases in ranking among all risks, moving from #37 in 2009 to #2 in 2025. Perennial worries about conflict Both State-based armed conflict and Intrastate violence feature in the upper-left quadrant of Figure 2.17, showing that concerns about conflict, although especially high today, have never been far from top of mind among decision-makers over the last 20 years. 241 510-year risk rank10 15 20 Year2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2022 2023 2024 2025 2017 2018 2019 2020 2021Extreme weather events: Evolution in ranking, 2009-2025 FIGURE 2.18 Source World Economic Forum Global Risks Perception Survey 2005-2006 to 2024-2025.Extreme weather events (ﬂoods, heatwaves, etc.) Global Risks Report 2025 67