1 The top 10 short-term risks identified by the Global Risks Report 20251 align closely with geopolitical, environmental, societal and technological themes. Geopolitical concerns, including interstate armed conflict and geoeconomic confrontation, are especially prominent in the one-year risks ranking. Societal risks, including polarization, lack of economic opportunity, unemployment and concerns around human rights and civic freedoms are also among the top 10 risks identified. Environmental risks, such as extreme weather events or critical change to Earth systems, emphasize the urgent need to develop sustainable practices and resilient economies and societies. Meanwhile, misinformation and disinformation represent the leading technological risks. The survey of private-sector leaders conducted for this paper reveals that not all risks are viewed as equally disruptive to business operations. Over 250 global executives identified technology as the top threat to business continuity. This trend is being fuelled by growing cybersecurity concerns and the rapid adoption of generative artificial intelligence (AI). Regulatory changes emerged as the second most disruptive challenge, particularly due to rising compliance costs associated with data protection and environmental regulations. Shifting market dynamics and evolving customer preferences ranked third. This was followed by macroeconomic and capital issues such as exchange rate volatility, changing trade policies and inflation, which are significantly affecting long-term investments and business operations. Overall, this global anticipation of disruption across regulatory, technological and macroeconomic vectors reflects a rapidly evolving business landscape shaped by digital transformation and shifting policy environments. The fact that these have been identified as being among the most urgent risks underscores the growing complexity and interconnectedness of global operations.1.1 Growing complexity and interconnectedness of risks The need for a more integrated approach to resilience Amid rising volatility and compounding risks, organizations face higher-stakes decisions, necessitating a strategic, integrated approach to resilience. As we learned over the past few years, we operate in a world in which we must expect the unexpected. Kristalina Georgieva, Managing Director, International Monetary Fund (IMF) In today’s interconnected landscape, organizations are grappling with increasingly complex, compounding risks, driven by the convergence of geopolitical tensions, societal instability, climate change and technological vulnerabilities. These risks take various forms. For instance, the 2024 CrowdStrike outage caused significant global disruptions in technology, while soaring inflation throughout 2022 to 2024 led to widespread financial instability. On the geopolitical front, escalating trade tensions between the US and China have forced organizations to rethink and diversify their supply chains to mitigate exposure to global uncertainties. Resilience Pulse Check: Harnessing Collaboration to Navigate a Volatile World 5

Resilience Pulse Check 2025