Part 4
International Contribution
How global risk bodies and peer institutes read the IRMSA Top 10.
The global context
Across international contributors, there is strong alignment that organisations are operating in a more volatile, interconnected and rapidly evolving global risk environment, where geopolitical fragmentation, economic pressure, climate disruption, cyber insecurity, resource stress and social fragility increasingly amplify one another rather than appearing as isolated shocks. Global risk bodies highlight that this is reshaping assumptions about globalisation, supply chains, technology dependence and energy systems, while simultaneously accelerating expectations around sustainability, ESG, transparency and the responsible use of emerging technologies such as artificial intelligence. At the same time, the role and maturity of risk management are evolving, with leading organisations moving beyond compliance to integrated, data-enabled and strategy anchored approaches that position risk management, business continuity and strategic foresight as core enablers of resilience and value creation.
An international view of the IRMSA Top 10 risks shows that global practitioners recognise the same core risk themes, but emphasise their growing interconnectedness, increasing velocity and the need for more integrated, strategy led responses across regions.
Taken together, the international contributions underscore that future resilience will depend less on predicting individual events and more on cultivating governance, capabilities and collaboration that can absorb and adapt to complex, compounding disruptions. Priorities emerging from global peers include deeper integration of ERM into strategic decision making, investment in analytics, scenario planning and stress testing, and deliberate strengthening of risk culture, communication and leadership, particularly at CRO and board level. There is a clear call for closer cooperation between professional bodies, shared intelligence and harmonised competency standards so that the global risk community can develop integrated solutions that address multiple interconnected risks simultaneously, enabling organisations not only to protect value, but to unlock new opportunities for sustainable growth and societal resilience.
The Top 10 through a global lens
Commentary as printed, per risk. Medallions use the edition's theme colours; each risk name links to its national profile.
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Globally, governance quality remains uneven and continues to influence investor confidence, regulatory certainty and organisational resilience. Weak governance, corruption, regulatory inconsistency and ineffective leadership can undermine business stability, while strong governance is increasingly viewed as a strategic differentiator. Uncertainty in governance and regulation reduces planning certainty and requires preparation for multiple scenarios, including abrupt policy reversals, reinforcing the need for agile leadership and adaptable risk responses.
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Inflation, currency volatility, elevated debt levels and uneven recovery patterns continue to place pressure on economies and organisations. Export oriented and globally connected sectors are especially exposed to shifts in demand and geopolitical fragmentation. Risk professionals are increasingly required to support leadership with timely insight for difficult decisions on costs, investment and growth, as prolonged strain can dampen innovation and expansion.
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Political transitions, geopolitical tensions, protectionism and social unrest are now treated as strategic risks capable of disrupting operations and markets. Even in more mature environments, political division, regulatory uncertainty and trade tensions can create operational and financial disruption, while effectiveness of risk management depends heavily on the predictability of the political and regulatory climate.
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Infrastructure resilience remains a global concern, with transport, logistics, water, telecoms and energy systems exposed to ageing assets, under-investment and climate related stress. Infrastructure is critical to organisational success, prompting closer scrutiny of dependencies, bottlenecks and failure points to prevent systemic breakdowns.
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Unemployment, inequality and affordability pressures weaken social cohesion and heighten social tension, affecting labour markets and stakeholder expectations. Organisations are increasingly expected to demonstrate visible social responsibility and community support, with reputational consequences for those that do not.
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Climate change is recognised as a direct threat to continuity and economic stability, manifesting through floods, droughts, storms, wildfires, heat stress and associated food and water security issues. Historical data is less reliable as a predictor of future events, increasing the importance of scenario analysis and adaptive resilience planning.
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Corruption, fraud, cyber-enabled crime, illicit trade and unethical conduct continue to erode trust in institutions and markets, especially across complex cross-border value chains. Organised crime increasingly intersects with cybercrime, intellectual property theft, supply chain infiltration, financial fraud, ransomware and human trafficking, demanding integrated responses across assurance functions.
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Rapid digitalisation and technology adoption are expanding exposure to cyberattacks, ransomware, data breaches, operational technology failures and third-party digital risks. Despite improved controls, adversaries remain highly adaptive, making cyber resilience and incident readiness central to risk management.
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Water scarcity is emerging as a strategic risk in more sectors and regions, particularly where climate variability intensifies pressure on agriculture, manufacturing and urban systems. At the same time, energy security remains a concern worldwide, with rising demand, transition pressures and extreme weather driving investment in resilience, diversification and protection of critical energy infrastructure from both cyber and physical attack
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Globally, energy security remains a significant concern, shaped by rising demand, infrastructure constraints, transition pressures, extreme weather and changing geopolitical conditions. These factors are driving increased organisational focus on energy resilience, backup capacity and alternative energy sources.
Although not all organisations see energy disruption as a top immediate risk, major failures in electricity or national grid systems would have serious economic and operational consequences.