First Annual Risk Conference 2023
What it is about
César A. Rodríguez, senior vice president of Marsh Advisory for the Dominican Republic, presented at the First Annual Risk Conference (September 2023) the findings of the World Economic Forum's Global Risks Report 2023, prepared with Marsh McLennan.
The 22-slide presentation describes the short-term risk environment, the perceived severity of risks over two and ten years, their interconnections, current crises, emerging risks and four possible futures of resource rivalry. It ends with the main concerns of executives in Latin America and the Caribbean and, in particular, in the Dominican Republic, and with questions for organizations to assess their preparedness.
Objectives
- Give an orderly reading of the short- and long-term global risk environment according to the World Economic Forum.
- Show how economic, environmental, geopolitical, social and technological risks connect with one another.
- Ground the analysis in the concerns of executives in the region and the country.
Key takeaways
- The risks already materializing, in the survey's order, are the energy supply crisis, the cost-of-living crisis, rising inflation, the food supply crisis and cyberattacks on critical infrastructure.
- 69% of respondents expect constant volatility across all economies and industries, with multiple disruptions.
- Risks are interconnected: one crisis can trigger others, so they should be analyzed as a system and not in isolation.
- For Dominican executives, the greatest two-year threats are the cost-of-living crisis, the debt crisis, rapid or sustained inflation, natural disasters and commodity price shocks.
- The presentation closes with questions for organizations: whether risks are built into their strategy, how effective their management is and whether it is possible to prepare.
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