The Top 5 Global Risks for 2023

3. Natural resources crises

Even in an increasingly global world, global cooperation is often less visible. This prevents the free flow of resources across borders in a world where there are sufficient natural resources but quite inequitably spread. Further, climate change is also having a major negative impact on the availability of natural resources with water and mineral shortages being a significant global risk for 2023. In several developing economies, food and water shortages are being impacted not just by climate change but also from global disruptions due to war, lack of political stability and disruption to trade. This decline has led to higher commodity prices, which again, have resulted in serious issues for developing economies where purchasing power is significantly low.