“Emerging risks” can be understood as new risks or familiar risks in unfamiliar conditions. Systemic emerging risks present particular risk management challenges due to their low frequency but potentially high impacts that can across economies and have societal, political and other impacts. Further, it is difficult to determine when or how an emerging risks can materialize.
A report by the International Risk Governance Council (IRGC), prepared with the support of Oliver Wyman, identified the common ground and twelve contributing factors which support the development of emerging risks. Through a series of case studies, the report illustrates how new risks emerged or were amplified by these twelve generic factors.
Applying this analysis framework can help organizations anticipate emerging risks and better respond and manage these risks at an early phase in their development.
To learn more, please download the report.
