Cost of living crisis overtakes climate change as biggest concern in global risks survey

The poll of more than 1,200 global risk experts, policy-makers and industry leaders found the global pandemic and war in Europe have thrust fears over soaring energy and food costs to the fore.

The cost-of-living crisis is the biggest and most urgent worldwide risk, but climate change and failure to take action on global warming are the most serious long-term threats, according to experts.

The annual World Economic Forum (WEF) survey of global risks revealed the cost crisis has overtaken the failure to act on climate change as the biggest concern in the next two years, as countries worldwide battle to rein in sky-rocketing inflation.