Global Risk

The European Parliament started monitoring future shocks during the coronavirus crisis, and has continued to do so during Russia's unprecedented war on Ukraine. The annual 'Future Shocks' series reviews global risks, with a focus on specific risks and the capabilities and resilience of the EU system in the face of multiple challenges. It seeks to provide up-to-date, objective and authoritative information on these risks, based on risk literature from a broad range of sources. 'Future Shocks' includes, but is not limited to, areas where the EU has primary competence, and identifies the benefits of concerted action by the EU as well as the ability of its institutions and Member States to find new and effective solutions to deal with major shocks. The 2023 edition, the second in this annual series, highlights 15 risks related to geopolitics, climate change, health, economics and democracy that could occur in the coming decade, and 10 policy responses to address existing governance capacity and possible ways to enhance capabilities within the EU. Among the options set out are those previously included in European Parliament resolutions, positions from other EU institutions, and policy papers from think tanks and stakeholders.

Is the world sleepwalking into a crisis? Global risks are intensifying but the collective will to tackle them appears to be lacking. Instead, divisions are hardening. The world’s move into a new phase of strongly state-centred politics, noted in last year’s Global Risks Report, continued throughout 2018. The idea of “taking back control”— whether domestically from political rivals or externally from multilateral or supranational organizations— resonates across many countries and many issues. The energy now expended on consolidating or recovering national control risks weakening collective responses to emerging global challenges. We are drifting deeper into global problems from which we will struggle to extricate ourselves.