A groundbreaking report from the Accelerator for Systemic Risk Assessment (ASRA) calls for a radical shift in how governments, businesses, and communities assess and manage global risks. The report, titled Facing Global Risks with Honest Hope, highlights the growing interconnected threats facing the world, from climate change and biodiversity loss to geopolitical conflicts and the unchecked rise of artificial intelligence.
Developed by over 50 experts, the report argues that the current approach to risk assessment is outdated and fragmented, leaving decision-makers ill-prepared for today’s “polycrisis” moment. Instead of addressing risks in isolation, the authors emphasize the need for a systemic approach that integrates cross-sector collaboration and global governance reforms.
One of the report’s key recommendations is the appointment of a Global Systemic Risk Officer at the United Nations, along with national and local counterparts, to ensure cohesive action and accountability. The authors argue that such roles would better coordinate responses to risks that span sectors and geographies, drawing lessons from crises like COVID-19 and the 2008 financial collapse.
ASRA’s report, released ahead of the UN Summit of the Future, outlines practical steps for improving risk management, including:
- Reforming governance to embed systemic risk officers at all levels of decision-making.
- Encouraging corporations and financial institutions to incorporate systemic risk assessments in their investment practices.
- Expanding data collection and addressing gaps, especially in relation to Indigenous Peoples and Local Communities (IPLCs).
- Fostering transdisciplinary research and global collaboration to address complex risks.
The report stresses that justice and equity must be central to risk management efforts, particularly for vulnerable communities and ecosystems. Ruth Richardson, Executive Director of ASRA, noted that “transforming how we understand and respond to risk is the greatest opportunity of our time.”
As world leaders prepare for upcoming global summits, including COP29 and the UN Biodiversity Conference, ASRA’s call to action urges them to rethink risk management and adopt holistic strategies for a more resilient and just future.