Risk Response Network: Proactively preparing for global risks

11:36, January 27, 2011      

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By Adrian Monck, WEF

The World Economic Forum launched the Risk Response Network on the opening day of the World Economic Forum Annual Meeting in Davos on Jan. 26. The world has fundamentally changed and this new reality calls for more foresight and collective action to address a broad range of global risks.

The network will address concerns about widening economic inequalities and failed global governance systems underpinning a raft of other interrelated risks ranging from financial governance to cybersecurity and resource scarcity. Uniquely placed to catalyze a collective response to this new landscape, the World Economic Forum is launching the platform to better understand, manage and respond to these complex and intertwined risks.

"Throughout the extreme shocks of recent years, both public and private sector leaders have been struggling to avoid collapse and keep the economy afloat. This year in Davos, the mood is shifting to these global leaders taking a more forward-looking approach, exploring how to proactively address complex risks and associated opportunities," said Kevin Steinberg, Chief Operating Officer, World Economic Forum USA and Head of the Risk Response Network. "In this spirit, the World Economic Forum is launching the Risk Response Network, an umbrella of projects and initiatives all designed to help global leaders better understand, prepare for and respond to risk."

The Risk Response Network (RRN) will bring a new approach to addressing the complexity of risk that leaders are facing and enable them to capture the upside of those risks.

The network will offer the most compelling insights, which are drawn from the World Economic Forum's own knowledge generation and insight, including the Global Agenda Councils and a network of the world's top universities and private sector content providers. It will involve the most relevant global decision-makers through a new and unique community of Risk Officers from top corporations, governments and key international organizations

The network will utilize the most suitable tools and services by developing proprietary, custom-designed risk analytics and risk management processes, to enable decision-makers not only to better understand key risks in depth and in context, but also to respond to them proactively and to mobilize quickly in times of crisis

The World Economic Forum will support the Risk Response Network with a permanent staff and through face-to-face and virtual meetings, a proprietary online platform to better enable ongoing virtual collaboration and a dedicated knowledge curation capability.
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