2022 Global Risk Survey

Embracing risk in the face of disruption

The world is different than it was two years ago and so is the risk environment in which organisations operate. Change is fast and disruptive.

As the world continues to change quickly, and not always for the better, Australian business leaders are grappling with new and emerging risks, and opportunities in navigating the volatile environment. They are still adjusting to ‘COVID-normal’, where business models have been challenged and – in some cases – reinvented. Meanwhile, further uncertainty is coming from interest rate hikes, inflationary pressures, supply chain disruptions and accelerating digital and technology adoption, heightened cyber security and data risks together with climate action expectations and policy directions of a new Federal Government.

Customers, investors and other stakeholders are now expecting more on ESG, including the physical and transition risks that a changing climate poses. Each of these risks can cause significant impacts, but because they are also highly interconnected, any one risk can have far-reaching implications across the enterprise and put brand and reputation at stake.

These factors – and more – dominated the responses of Australia’s business leaders in our 2022 Global Risk Survey.

Despite the volatile business environment, there is optimism, with 76% of Australian and global organisations expecting revenues to grow over the next 12 months.

Top 5 global risks to revenue growth

• 22% Market risks
• 21% Business operating model
• 20% Cyber
• 20% External change
• 18% Geopolitical risks

So how can organisations embrace risk to support revenue growth? What are the risks impacting Australian organisations?