Page 67 - Risk Report 2024

IRMSA
67
RISK REPORT 2024/25

The consequences of the risk include the following:
• Intensified extreme weather events (severe storms, floods, droughts, and wildfires), causing severe
environmental damage, biodiversity loss, infrastructure damage, and loss of life.
• Primary production industries becoming severely pressured (i.e., agriculture, fisheries, forestry, etc.).
• Food insecurity due to below-average agricultural yields, harvest, and production.
• Limited economic growth due to reduced investment potential and failing infrastructure.
• Excessive food price inflation and knock-on effect on inflation and resultant high interest rates.
• Civil unrest precipitated by low economic growth, food insecurity, rampant inflation, and increasing
unemployment.
• Failure to meet UN target to reduce emissions by nearly half in 2030 and net zero by 2050.

Risk Impact on Economic Sectors

Agriculture, Forestry & Fisheries 1 Mining 7
Communication 6 Professional Services 11
Construction & Real Estate 10 Public Service / Government 2
Education 15 Sport & Recreation 14
Energy 3 Tourism & Hospitality 5
Healthcare 6 Retail, Trade & Commerce 4
Financial Services 12 Transport & Logistics 8
Manufacturing 13 Non-Profit / Civil Society / NGOs 9