Geoeconomic confrontation is also the top risk for 2028 according to the GRPS, up eight positions from last year and moving Misinformation and disinformation to #2 for the first time since 2023 (Figure 12). In highlighting Geoeconomic confrontation, respondents are indicating a deepening and broadening of their concerns: after a year of heightened uncertainty over trade policy, there is now a growing recognition of the escalating use of other economic and political instruments, from sanctions and regulations to capital restrictions and weaponization of supply chains, as tools of geoeconomic strategy. State-based armed conflict stands in fifth position, as competition among countries hardens.The path to 2028: compounding risks1.2 Inequality Involuntary migration or displacement Erosion of human rights and/or civic freedoms Cyber insecurity State-based armed conﬂ ict Geoeconomic confrontation Misinformation and disinformation Extreme weather events Pollution Societal polarization 6th 7th 8th 9th 10th 1st 2nd 3rd 4th 5th Global risks ranked by severity over the short term (2 years) FIGURE 12 Source World Economic Forum Global Risks Perception Survey 2025-2026"Please estimate the likely impact (severity) of the following risks over a 2-year period." Risk categories Economic Environmental Geopolitical Societal Technological Rising geoeconomic tensions between countries are also coinciding with elevated levels of inequality and uneven economic impacts of the transformations underway. While there have been upward movements in societal risks since last year’s survey, with Societal polarization (#3) up one position and Erosion of human rights and/or civic freedoms up two positions to #8, this risk category has overall remained relatively stable in its ranking. Inequality (#7), Lack of economic opportunity or unemployment (#13), Insufficient public infrastructure and societal protections (#20) and Infectious diseases (#27) all retain the same rankings as last year. Deepening divides along political, cultural or identity lines within societies are being amplified by technological risks, such as Misinformation and disinformation (#2). This corrodes public discourse, weakens crisis responses and is propagated by technological advancements, such as in AI. These developments in turn heighten the risks of increased digital distrust and dilution of ambitious socio-environmental decision-making amid shifting short-term priorities and increasingly nationalistic narratives. Technological risks overall remain an ongoing and significant concern for respondents, with Cyber insecurity at #6 reflecting the increasing frequency and sophistication of cyberattacks targeting critical infrastructure, businesses and government. However, the low ranking of Adverse outcomes of AI at #30 in the two-year time frame indicates that respondents view these risks as still relatively distant or as a segment of other more current risks (such as State-based armed conflict or Misinformation and disinformation). While environmental risks are present in the top 10 over the next two years, with Extreme weather events at #4 and Pollution at #9, there has been a reprioritization of global risks by respondents in the short term towards geoeconomic and societal shocks. Environmental risks have some of the largest declines in ranking, with Critical change to Earth systems down seven positions to #24, Biodiversity loss and ecosystem collapse down five positions to #26, and Pollution down three positions to #9 (Figure 13). Global Risks Report 2026 16