Misinformation, social polarisation, extreme weather events, inequality, erosion of human rights, armed conflicts, pollution. According to the highly influential analysis of systemic risks published annually by the World Economic Forum at its Davos meeting, these are some of the short-term risks facing the global economy. Long-term risks, on the other hand, are dominated by environmental issues (climate, loss of biodiversity, transformation of terrestrial systems), followed by social issues (misinformation, social polarisation, inequality).
The Global Risks Perception Survey (GRPS) is a global analysis that gathers the opinions of 1,300 global experts and business leaders. It paints an undoubtedly alarming picture: with global risks continuing to grow in terms of scope, interconnection and speed, 2026 marks the beginning of an era of intense geo-economic tension. As cooperation mechanisms collapse and governments withdraw from multilateral frameworks such as the United Nations, international stability is under siege. A disputed multipolar landscape is emerging, in which confrontation is replacing collaboration, and trust, a currency of cooperation, is losing its value in the face of global poly-crisis.
In its Greek etymology, the concept of crisis has a much richer and less negative meaning than it does today. While today we are terrorised by change and instability, crisis, derived from the Greek κρίσις (krísis) – a concept stemming from the verb κρίνω (krínō), to separate, distinguish, judge, decide – denotes a moment of judgement, a moment of irrevocable choice. When faced with difficult times, the ancient Greeks were aware that it was necessary to choose a clear direction in order not to succumb to adversity, drawing benefit from transformation.
Today, faced with the crisis of the old international order, which was trying too slowly to undergo transformation by pursuing transition and republican and universal values (human rights, sustainable development, freedom), we stand helplessly by as we suffer dark and destabilising forces embodied by illiberal and authoritarian tyrants at the helm of the United States, Russia, Israel, Iran and Saudi Arabia, petro-military, chauvinistic, messianic powers interested in expanding their Lebensraum, their geopolitical and geoeconomic living space, even using κράτος, brute force, fuelled by the fury of fire (fossil).
In the very moment that international law, the United Nations and other supranational organisations are defeated, a desire arises to re-establish the internationalism of the third millennium, of regions, peoples, territories, autonomy and universalism. Every element is called upon to do its part: politics, citizenship, and businesses. Defence and expansion of ESG strategies is a moral imperative and a strategy for long-term economic resilience.
Empowering governance, establishing paths for improving social performance, and investing in effective, rather than superficial, environmental solutions is a strategic approach to differentiation and identity. Companies that decide to embark on a path of real improvement based on the analysis of social, governance and environmental performance, to seize the crisis and prepare for the world that will inevitably emerge from this terrible, temporary, new geo-economic order, should stay away from fad trends, media hype about “sustainability”, green and social washing, and improvised ESG consultants.
Cover: illustration by Emanuele Del Rosso