Page 21 - Turkinsurance Digital Magazine

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Despite all of these, there are opportunities to invest in smart,
clean, and inclusive growth, which will productivity and sustain-
ability for the states and companies seeing a changing work en-
vironment.

The digital gap causes fears, young people experience disil-
lusionment

COVID-19 has accelerated the Fourth Industrial Revolution,
expanding the digitalization of human interaction, e-commerce,
online education, and remote work. These shifts will transform
society long after the pandemic and promise huge benefits such
as the ability to telework and rapid vaccine development.

But they also risk exacerbating and creating inequalities. Re-
spondents to the GRPS rated “digital inequality” as a critical
short-term threat.

While the digital leap forward unlocked opportunities for some
youth, many are still have unemployment problems. Young GRPS respondents signal a challenging geopolitical outlook
adults worldwide are experiencing their second major global cri- marked by “interstate relations fracture”, “interstate con-
sis in a decade. Already exposed to environmental degradation, flict” and “resource geopolitization”—all forecasted as critical
the consequences of the financial crisis, rising inequality, and threats to the world in three to five years.
disruption from industrial transformation, this generation faces
serious challenges to their education, economic prospects, and Better pathways are available to manage risks and enhance
mental health... resilience

According to Global Risk Perception Survey, the risk of “youth Despite some remarkable examples of determination, coopera-
disillusionment” is being largely neglected by the global com- tion, and innovation, most countries have struggled with aspects
munity, but it will become a critical threat to the world in the of crisis management during the global pandemic. While it is
short term Hard-fought societal wins could be obliterated if the early to draw definitive lessons, Global Risks Report reflects on
current generation lacks adequate pathways to future opportu- global preparedness by looking at four key areas of the response
nities—and loses faith in today’s economic and political institu- to COVID-19. These areas are “institutional authority”, “risk
tions. financing”, “information collection and sharing”, and “equip-
ment and vaccines”.
Climate continues to be a looming risk as global cooperation
weakens According to the report, if lessons from this crisis only inform
decision-makers how to better prepare for the next pandem-
Climate change continues to be a catastrophic risk. Although ic—rather than enhancing risk processes, capabilities and cul-
lockdowns worldwide caused global emissions to fall in the first ture—the world will be again planning for the last crisis rather
half of 2020, evidence from the previous years warns that emis- than anticipating the next. The response to pandemic offers four
sions could bounce back. A shift towards greener economies can- governance opportunities to strengthen the overall resilience of
not be delayed until the shocks of the pandemic subside. countries, businesses, and the international community These
opportunities include “formulating analytical frameworks that
Responses to the pandemic have caused new domestic and geo- take a holistic and systems-based view of risk impacts”, “invest-
political tensions that threaten stability. Digital division and a ing in high-profile risk champions to encourage national leader-
future “lost generation” are likely to test social cohesion from ship and international co-operation”, “improving risk commu-
within borders. GRPS respondents rated “state collapse” and nications and combating misinformation” and “exploring new
“multilateralism collapse” as critical long-term threats. forms of public-private partnership on risk preparedness”.