Top Risks

Top Risks

The Top Risks are the six main risks your organisation needs to plan for and mitigate in 2022. They are broad, sometimes all encompassing, but none can be ignored.

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Political Risk

The grand geopolitical repositioning

In 2022, the world will start to spin differently. Countries and companies will begin to form – and be formed by – a new global geopolitical order.

This transition will take time, but will drive considerable disruption as countries, blocs and hemispheres begin to interact differently. The uncertainty to which we have uneasily adjusted in recent years will persist as we leave the geopolitical comfort zone – and we use that phrase cautiously – of decades past.


Security Risk

The rise of dysfunctional, fragile and vulnerable states

The rising number of dysfunctional, vulnerable, and fragile states across the globe is the overarching security risk for business in 2022. The critical driver of this risk has been the COVID-19 pandemic, which has further diminished these states’ capacity to absorb and manage external shocks and internal challenges.


Terrorism Risk

Covid and the Taliban drive diverse terrorist threats

Terrorism in 2022 and beyond will be shaped by two major developments: the COVID pandemic and the Taliban takeover of Afghanistan. These two developments pose different kinds of threats, but both are contributing to an increasingly diverse threat landscape. Companies must use lessons learned to effectively monitor and mitigate terrorism threats in 2022.


Cyber Risk

Business versus a world of unchecked cyber threats

In 2022, escalating cyber threats globally are set to become a matter of survival for organisations. States are failing to deter aggressive behaviour, as offensive cyber capabilities proliferate among rising numbers of state and non-state actors. Insurers are questioning the viability of offering coverage for disruptive cyber events. Where does this all end? Almost inevitably with the private sector defending itself – alone – against cyber threats that are spinning out of control.


Operational Risk

Brace for the cutting edge of climate change

Climate change and its associated impacts are the number one operational risk to business in 2022. While COVID-19 continues to pressure business operations globally, extreme weather events and natural disasters will take centre stage by disproportionally influencing politics, economic policy, urbanisation, infrastructure and capital investments - to say nothing of the compounding impacts on business continuity, global supply chains and duty of care considerations. 


Reputational Risk

Stumbling in the ESG stampede

In 2022, companies will be under pressure to intensify their activities on climate leadership and responsible citizenship, as governments cascade environmental, social and governance (ESG) commitments to the private sector. The idea of putting ‘people and planet’ at the heart of business is no longer theoretical. Investor pressure, activist shareholders, regulatory action, consumers and governments scrambling to make up for lost time on climate action are all hitting companies hard.


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