This imperative is strongly emphasized in a formal Recommendation on the Governance of Critical Risks that was developed by the Organisation for Economic Cooperation and Development (OECD) with Oliver Wyman input and approved by the OECD Council of Ministers in May.
The Recommendation sets out five principles to help countries strengthen resilience to sudden-onset events such as earthquakes, industrial accidents, and terrorist attacks; gradual-onset events such as pandemics; and steady-state risks such as illicit trade and organized crime. All of these potential occurrences threaten infrastructure critical for sectors vital to economic activities, lead to widespread damages and losses, degrade key environmental assets, negatively impact public finances, and erode public trust in government.
The Global Risks 2014 report highlights the need for coordinated action between different countries and sectors to mitigate threats and avert potential crises.
Related Insights
-
Insights Ferran Reverter Planet is Chief Executive Officer of the MediaMarktSaturn Retail Group, Europe’s leading consumer electronics retailer.Turning A Crisis Into A Catalyst For Change
-
Insights Interview with Malina Ngai, Group COO and Asia & Europe CEO of A.S. WatsonHow Caring Brands Can Rise Above COVID-19
-
Insights Recommendations for potential mitigation actions to achieve access to third-party data sources.Implementation Of Sustainable Development Goals
-
Insights Interview with Rui Barbas, Chief Strategy Officer at Nestlé USANavigating the Present and Transforming for the Future
OUR EXPERTISE
Industries
- V3IND /CAP 10-7 title default black
- Test
- test-elastic
- v3ind/cap new test 8/7
- Automotive
- Communications, Media, And Technology
- Education
- Energy And Natural Resources
- Financial Services
- Government And Public Institutions
- Health And Life Sciences
- Industrial Products
- Private Equity And Principal Investors
- Retail And Consumer Goods
- Transportation And Services
- Test Communications, Media, And Technology
capabilities
- testchen
- capability
- V3IND /CAP Communications, Media, And Technology
- Test title default black v3ind/cap page
- Actuarial Consulting
- Climate And Sustainability
- Digital
- Mergers And Acquisitions
- Oliver Wyman Engineers
- Operations
- Payments
- People And Organizational Performance
- Performance Transformation
- Pricing, Sales, And Marketing
- Risk Management
- Strategy
- Turnaround And Restructuring
OUR EXPERTISE
Industries
- V3IND /CAP 10-7 title default black
- Test
- test-elastic
- v3ind/cap new test 8/7
- Automotive
- Communications, Media, And Technology
- Education
- Energy And Natural Resources
- Financial Services
- Government And Public Institutions
- Health And Life Sciences
- Industrial Products
- Private Equity And Principal Investors
- Retail And Consumer Goods
- Transportation And Services
- Test Communications, Media, And Technology
capabilities
- testchen
- capability
- V3IND /CAP Communications, Media, And Technology
- Test title default black v3ind/cap page
- Actuarial Consulting
- Climate And Sustainability
- Digital
- Mergers And Acquisitions
- Oliver Wyman Engineers
- Operations
- Payments
- People And Organizational Performance
- Performance Transformation
- Pricing, Sales, And Marketing
- Risk Management
- Strategy
- Turnaround And Restructuring