The world is getting warmer and natural hazards are becoming more intense, likely bringing higher economic losses in the future. Today, four major weather perils result in expected economic losses of USD 200 billion annually. With more severe weather coming, economic losses are set to rise.

In 2024, global employment expanded in line with a growing labour force, keeping the global unemployment rate steady at 5 per cent, similar to that of 2023. Slowing productivity growth remains a major bottleneck with respect to expanding the opportunities for decent work.

CEOs need to accelerate their action plans to safeguard the production of commodities critical to the global population and economy as heat stress and drought risk rise around the world, according to PwC's report, Climate Risks to Nine Key Commodities: Protecting People and Prosperity, published.

The need to adapt to climate change is undisputed, as evidenced by the increasing commitments being made to adaptation. Despite the recognized need, there are significant challenges that make it very difficult to track, monitor, and evaluate adaptation.