Page 18 - WEF Reoprt 2020

REUTERS/DAMIR SAGOLJ

Climate-related issues dominated all

of the top-five long-term risks in terms

of likelihood

degradation, but by exploiting the region for but did present a strategy in which the
geostrategic advantage. The Arctic Council, “end-state for the Arctic is a secure and
which for more than 20 years has served stable region in which U.S. national security
as an important multilateral mechanism interests are safeguarded.” 17
for collaboration among the eight Arctic
States, is under stress. A new cold war is The digital frontier
developing as countries—including China, Both sets of respondents to the Global Risks
Norway, Russia and the United States— Perception Survey—the multistakeholder
compete for fish, gas and other natural community and the Global Shapers—identify
resources; for the use of new shipping lanes; cyber-related issues, such as cyberattacks
and to establish a strategic footprint in the and data fraud or theft, within the list of top
region. Russia and China have prioritized 10 long-term risks (see Figure 1.2). Indeed,
15
developing the Northern Sea Route, with while the growth of digitalization offers
the latter dubbing its initiative the “Polar Silk opportunities that can best be captured
Road”. The U.S. Department of Defense through coordinated approaches among
16
released its Arctic strategy in July; that stakeholders, it also creates areas in need
document did not mention climate change of coordinated solutions.

The Global Risks Report 2020 13