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Extreme weather events have emerged as the most severe long-term risk the world must prepare for over the next decade, with the World Economic Forum (WEF) highlighting the urgent need for action in its latest Global Risks Report 2025. Attributed to climate change, these events have retained their position as the top long-term risk for the second consecutive year.
The report — released ahead of the WEF annual meeting in Davos-Klosters, Switzerland from January 20 to 24, 2025 — outlines the pressing challenges that the global community must address, focusing on climate change, biodiversity loss and pollution. The theme of this year’s meeting, Collaboration for the Intelligent Age, underscores the importance of cooperative global efforts to tackle these critical environmental issues.
Since the report’s first edition in 2006, extreme weather events have been categorised under “environmental risks.” These events have climbed into the top six risks annually since 2014, ranking as the foremost global risk from 2017 to 2020 and regaining that position in 2024.
The report highlighted that extreme weather events are not only increasing in frequency but also in cost, with inflation-adjusted expenses rising by nearly 77 per cent over the past five decades.
The findings of the Global Risks Perception Survey 2024-2025, which included input from over 900 experts worldwide, classified global risks across economic, environmental, geopolitical, societal and technological domains.
These risks are assessed over both short-term (1-2 years) and long-term (10 years) horizons to guide policymakers in balancing immediate concerns with future challenges.
In the short term (2025-2027), extreme weather events rank as the second most severe global risk. These events are now listed among the top five short-term risks in 28 countries, up from 24 countries last year.
The United States, having ranked fifth in the country-level list of short-term risks, faces particular challenges with the aftermath of devastating wildfires, such as those in Los Angeles, which are forecast to become the costliest blaze in US history, with potential losses exceeding $200 billion.
Twelve countries now consider extreme weather events among their top three short-term risks, including the Dominican Republic, Oman, Bangladesh and Greece, where these events rank first or second in severity.
In six countries — Guatemala, Honduras, Indonesia, Italy, Malawi and Mauritius — extreme weather events have become more pressing compared to 2024, with Mauritius and Malawi seeing a notable rise from fifth to second place in their risk assessments
Climate change is driving multiple other global risks, the report stressed. Involuntary migration or displacement, for instance, ranks as the eighth most severe short-term risk, reflecting the growing pressures climate change is placing on populations.
The World Meteorological Organization (WMO) has warned that 2024 surpassed 2023 as the warmest year on record, with global temperatures continuing to rise into 2025, further exacerbating the impacts of extreme weather events.
Alongside extreme weather, four other environmental risks — biodiversity loss and ecosystem collapse, critical changes to Earth systems, natural resource shortages and pollution — rank among the top ten long-term risks the world must confront by 2035. These risks, interconnected with climate change, are contributing to an increasingly fragile global ecosystem, warned WEF.
“From conflicts to climate change, we are facing interconnected crises that demand coordinated, collective action,” said Mark Elsner, head of the Global Risks Initiative, World Economic Forum, in a statement.
The evolving global risk landscape is shaped by the interaction of four critical spheres: technological, geostrategic, climatic and demographic. These forces are expected to intensify over the next decade and beyond, resulting in a complex and interconnected web of challenges, according to the report.
Pollution—ranked tenth in long-term risks — poses a serious threat, particularly in relation to climate change. Unsustainable production and consumption patterns are driving the increasing pollution of air, water and land.
The report warns that pollution will significantly weaken ecosystems by 2035, reducing their ability to support life and provide essential services. Public health is already being impacted, with rising cases of cardiovascular diseases, respiratory issues and cancers linked to pollution.
Despite efforts to address climate change through initiatives such as the net-zero emissions drive, the report highlights that pollution is often overlooked in green transition plans. Without a concerted effort to tackle both pollution and climate change, the risks to human health and ecosystems will continue to grow.
The report further stresses the importance of addressing short-lived climate pollutants, such as black carbon, methane and hydrofluorocarbons, which have significant environmental and health impacts. Yet, many countries’ green transition plans lack clear strategies to mitigate the health and environmental consequences of pollution, making urgent action critical, WEF said.