When will the penny drop at Davos?


WEF publicity photo/Michael Buholzer
WEF publicity photo/Michael Buholzer

It’s not unusual for environmental risk to come up at the World Economic Forum, held this month in Davos, notes Natural Security columnist Chris Wood. “What appears to be harder for the high-net-worth and high-power-quotient individuals meeting in the Alps to accept, is that the rising incidence, mounting costs and escalating risk of natural security failures proceed directly from the very system that the World Economic Forum was invented to promote,” he writes in his new column, Davos: Pantomimes of Concern From the One Percent. Excerpt:

The one percent are meeting in Davos, Switzerland, this week—or at least, that fraction of the one percent that retains either a trace of social conscience or an instinct for personal survival that entails more than a private army and a fortified island somewhere.

The World Economic Forum (WEF) is the one annual event at which the rich and powerful gather to consider the prospects for further expanding and entrenching the free market, neo-liberal economy that has made them the masters of their universe and ours. And as in other years, they will consider the threats that haunt their agenda.

The conversation-starter for that discussion is a single, colourful graphic (see illustration, below) locating nearly 30 “risks” to the globalized economy along axes of likelihood and impact. They include low-likelihood, high-impact eventualities like the use of weapons of mass destruction, as well as high-likelihood but low-impact risks like failures of urban planning.

But here’s the thing: of the 25 risks that the WEF planners ranked as either highly likely, or likely to have a high impact (above 4.5 on either scale of zero to six), or both, more than half (13) are consequences of local and global-scale failures of natural security.

Some are straightforwardly so. Water crises, biodiversity loss, ecosystem collapse and extreme weather events, are all direct manifestations of our biophysical habitat strained to breaking point. The strangely neutral phrase, “Failure of climate-change adaptation” is a technocrat’s portmanteau for everything from droughts enduring decades to abandoned coastlines to super-storms to mortality-raising heat waves and cold snaps. Log in first to continue reading Davos: Pantomimes of Concern From the One Percent (subscription*)

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