According to a recent survey of 750 experts, it was found that climate change is the greatest potential threat to the global economy in 2016.
In the survey conducted by the World, Economic Forum, global warming had earned the top spot in the list of growing concerns.
WEF, in partnership with Marsh & McLennan and Zurich Insurance Group's risk specialists, has presented evidence that there are inter-connection between all risks and the evidence is deemed mounting and getting stronger.
The WEF conducted their annual assessment of risks prior to its yearly meeting in Davos, a town in the Swiss Alps, which will be held on January 20-23. The assessment indicated that this is the first time in eleven years that environment has topped the list of Global Risks. It has higher risk compared to water crisis, spread of weapons, involuntary mass migration and energy price hits.
Climate change is the reason why there are mass involuntary migration.
People are getting concerned about the major impacts this is causing. Espen Barth Eide, WEF's head of geopolitical affairs is fearful Europe may become fragmented.
I am concerned about the continued support in national politics for keeping Europe together.
Zurich's chief risk officer, Cecilia Reyes explains the risks:
Climate change is exacerbating more risks than ever before in terms of water crises, food shortages, constrained economic growth, weaker societal cohesion and increased security risks.
Instabilities are causing businesses to stop projects, interrupt operations and production, and thin movement of funds across nations.
When asked which risk would likely happen this year, survey respondents indicated large-scale involuntary migration as most likely. The European refugee crisis is already happening because of terrorist attacks and it has already gained geopolitical instability that may ripple globally.
WEF said that the wide range of risks associated, from environmental to geopolitical and economic, was unprecedented, reports indicated.
