The Top Systemic Risks, 2024

With multiple wars, geopolitically motivated attacks on critical infrastructure, devastating severe weather events, and economic pessimism, organizations in 2023 felt the ripple effects of external events that most would consider improbable, let alone possible to be coincident. By failing to prepare, these organizations struggled to remain resilient and consequently experienced these events more severely. But rather than embracing systemic risks — those caused by externalities — many still regard them as too remote to include in risk planning. Risk pros should use this report to gain an understanding of systemic risks, their effects on businesses, and how to mitigate them.