The climate crisis was already topping the survey prior to the advent of the Covid-19 pandemic in 2020. But with the global economy slowly recovering from the impact of the virus, climate concerns have topped the Global Risks Report once again.

Between 2017 and 2019, weapons of mass destruction were the biggest concern among polled experts as North Korea ramped up its nuclear programme.

The WEF said the most frequently documented risks associated with climate action failure are physical risks, such as an increase in the frequency and severity of severe weather.

But the risks linked to the transition to a net-zero future are also getting more attention. The report claims that a “disorderly transition” would have wide impacts businesses that could cause significant economic volatility and potentially even destabilise the financial system.

The recent COP26 conference in Glasgow saw countries make additional pledges to undertake measures designed to lower...