(Mahindra Group); Salvador Dahan (United Nations World Food Programme [WFP]); Diane Doering (Takeda Pharmaceutical Company Ltd); Mohamed Dukandar (e&); Andressa Duran (Vale SA); Edward Fishwick (BlackRock Inc.); Guillaume Eliet (Euroclear SA/NV); Rui Eustáquio (EDP S.A.); Natasha Fields (World Trade Organization [WTO]); Henrique Fragelli (Nu Holdings Ltd.); François-Marie Gardet (Holcim Ltd); Paul Gibson (Heidrick & Struggles); Peter Giger (Zurich Insurance Group); Francoise Gilles (AXA SA); Karen Griffin (Mastercard International Incorporated); Erin Harris (Accenture); Mats Holmström (Skandinaviska Enskilda Banken AB [SEB]); Deborah Hrvatin (CLS Bank International); Trina Huelsman (Deloitte); Giuliano Carrozza Iorio (Petroleo Brasileiro SA - PETROBRAS); Chris Jaques (First Abu Dhabi Bank P .J.S.C.); Huishu Ji (Green Climate Fund); Imed Khammari (Arab Bank (Switzerland) Ltd.); Gert Kruger (FirstRand Ltd); Thomas Kyhl (PensionDanmark); Scott Lester (BHP Group Limited); Renato Maia Lopes (Companhia Brasileira de Aluminio [CBA]); Mary McCann (S&P Global); Enrica Marra (Mundys SpA); Alex Markovski (Rio Tinto); David Maslo (African Risk Capacity "ARC" Ltd); Joseph Masri (General Retirement and Social Insurance Authority [GRSIA)); Pierre-Yves Mathonet (Mubadala Investment Company); Bhaskar Mehta (GFH Financial Group BSC); Pedro Cupertino de Miranda (SONAE SGPS SA); Qiniso Mthembu (JSE Limited); Heike Niebergall-Lackner (International Committee of the Red Cross [ICRC]); Torben Oeder (Volkswagen AG); Sebastian Pichler (Allianz SE); Enrico Piotto (EFG International AG); Ali Qahtani (Aramco); Hanne Raatikainen (UNHCR, the UN Refugee Agency); Raghuraman Ranganathan (Wipro Limited); Maria Thestrup (Gavi, the Vaccine Alliance); Mark Steele (OakNorth); Brian Stephens (Teneo Holdings); Richard Thomas (Mercuria Energy Group Holding SA); Iliyana Tsanova (European Commission); Gary Turner (Bain & Company); Yoshihiro Uotani (Sompo Holdings Inc.); Alex Vallejo (PG&E Corporation); Jacob van der Blij (United Nations Children's Fund [UNICEF]); and Damian Vogel (UBS AG). This report has relied on the expertise of our colleagues who provided inputs: Tatiana Aguilar; Maria Alonso; Silja Baller; Filipe Beato, Kimmy Bettinger; Matthew Blake; Roberto Bocca; Vivian Brady-Phillips; Agustina Callegari; Aengus Collins, Nicole Cowell; Anu Devi; Ginelle Greene Dewasmes; Attilio Di Battista; Daniel Dobrygowski; Sean Doherty; Audrey Duet; Laura Dunkley; Gill Einhorn; Rabab Fayad; Samira Gazzane; Camille Georges; Alfredo Giron; Fernando Gomez; Sam Grayling; Philipp Grosskurth; Yanjun Guo; Cihan Giray Özdemir; Michael Higgins; Sheik Tanjeb Islam; Adele Jacquard; Ximena Jativa; Akshay Joshi; Kateryna Karunska; Ariel Kastner; Eleni Kemene; Amalya Khachatryan; Aoife Kirk; Connie Kuang; Benjamin Larsen; Ella Yutong Lin; Ostap Lutsyshyn; Espen Mehlum; Jeff Merritt; Sarah Moin; Giulia Moschetta; Katia Moskvitch; Kristen Panerali; Natasa Perucica; Jorgen Sandstrom; David Sangokoya; Arunima Sarkar; Niels Selling; Shuvasish Sharma; Stephanie Shi; Rob van Riet; Judith Vega; Aditi Sara Verghese; Roddy Weller; and Olivia Zeydler, as well as Kelly Richdale (SandboxAQ). In addition to those mentioned above, we extend our thanks to the following colleagues: Charlotte Beale; Sakshi Bhatnagar; Anna Bruce-Lockhart; Harry Gray Calvo; Beatrice Di Caro; Kateryna Gordiychuk; Rasha Hasbini; Taeko Itabashi; Gayle Markovitz; Sybile Penhirin; Robin Pomeroy; Emily Poyser; Anais Rassat; and Marie Vilon. We extend our thanks to the Institute of Risk Management, Hersh Shah (IRM India Affiliate) and AcademyGlobal for support with the GRPS. Design and Production: Thank you to all those involved in the design and production of this year’s report and related assets: Alessandra Facchin; Carla D'Antonio; Giovanni Marchi; Mike Fisher and Floris Landi. We would also like to thank Salesforce and Lovelytics whose partnership supported the development of the interactive global risks data visualization: Joely Friedman; Katie Knoch; Justine Moscatello; Justin Rose and Giovanni Salvi. Cover image: Albert Badia Costa Global Risks Report 2026 101