DAVOS, Switzerland – Climate issues are set to be one of the main points of discussion at the World Economic Forum at the Swiss Ski Resort in Davos this week, but a survey of CEOs released Monday shows that they are not among the top ten threats. For business growth.
In its annual report ahead of the rally in Davos, financial services group PWC said climate change and environmental issues ranked it as the 11th biggest threat to their company’s growth prospects. Although one place above the same survey a year ago, climate-related issues lag behind other concerns such as over-control, which is the No. 1 concern. Other concerns in the top 10 include trade conflicts, lack of skills among workers and populism in politics.
According to the survey, 24% of CEOs are “extremely concerned” about climate-related issues, compared to 38% for additional control.
As they gather for the World Economic Forum, CEOs and politicians like US President Donald Trump will face increasing pressure from activists such as environmental groups and Swedish teenager Greta Thanberg to respond to the climate emergency. The meeting follows last week’s revelation that the last decade was the warmest on record in the world.
The survey also found that the number of CEOs pessimistic about the economic outlook has almost doubled compared to last year, with 53% predicting a slower growth rate this year, up from 29% in 2019. This is the highest level. The PwC has recorded pessimism since the issue survey began in 2012 and explains how trade disputes between the United States and China have weighed on the world economy.
The PwC said the pessimism was widespread but especially in North America, Western Europe and the Middle East.
“Given the long-standing uncertainty over trade tensions, geopolitical issues and the lack of agreement on tackling climate change, it is not surprising that confidence in economic growth has waned – even on a scale of mood swings,” said Bob Moritz, chairman of the PwC Network.
“The challenges facing the world economy are not new. But their scale and the speed at which some of them are growing is new. The key to gathering leaders in Davos is: How do we come together to deal with them?
PwC conducted 1,581 online interviews in 83 countries, mainly between September and October 2019. It weighs the sample by national GDP to ensure that the views of CEOs across all major regions are properly represented.
Pan Pilas, Associated Press