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Top three risks for public services

The 2023 Global Risks Report explores critical short-term dangers and escalating risks over the next decade. Read our top three risks for public services.
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By Julia Reffell , 

Head of Public Sector Practice, UK Corporate

04/25/2023 · 2 minute read

The Global Risks Report is published by the World Economic Forum annually in partnership with Marsh McLennan, among others. Drawing from the insights of over 1,200 experts and policymakers across the world, it explores critical short-term dangers and highlights escalating risks over the next decade.

This year’s report describes 2023 as the year of the polycrisis. It’s a term to describe various cascading risks that overlap with each other in the same time frame. Along with new risks like technology and workforce transformation, we see a return of bygone risks. Inflation, cost of living crisis, trade wars, capital outflows from emerging markets, widespread social unrest, geopolitical confrontation, and the spectre of nuclear warfare, are issues few of this generation's leaders or public policymakers have experience of.

Our top three takeaways from the report and may be the most immediately relevant for risk managers in public services include:

  1. Cost of living crisis
  2. Cyber and technology
  3. Sustainable climate change

Global Risks Report 2023 – acting on insight

Find out more about these three risks and the activities to consider in your organisation

Read the full article

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This article was originally published in the April 2023 edition of stronger, the ALARM journal. ALARM is a not-for-profit membership association that has supported risk management professionals for over 30 years. They provide members with outstanding support to achieve professional excellence, including education, training, guidance, networking, and industry recognition for best practice across risk management and related services. For more information, visit alarmrisk.com and follow @ALARMrisk on Twitter and LinkedIn.