New Kearney GBPC study, Countering adversity with innovation, highlights $2.7 trillion in lost global GDP from declining biodiversity
Report also sees $62.5 billion in e-waste recycling opportunities, a new epoch of rapid transit forms, and the rise of digital twins.
Creative leadership, improved resiliency, and strategic use of emerging technologies will be imperative for businesses to contend with the trends that are reshaping the world.
WASHINGTON, Sept. 28, 2023 /PRNewswire/ -- A new report released today by Kearney's Global Business Policy Council, Countering adversity with innovation, addresses five trends that will dramatically shape the global outlook and business operating environment. Efforts to slow biodiversity loss, the expansion of industrial policies, advances in rapid transit, opportunities in e-waste recycling, and the rise of digital twin technology are each explored in the report.
"As these trends suggests, the volatility we have been living through will intensify, to one degree or another, over the next five years," notes Erik Peterson, managing director of the Global Business Policy Council and co-author of the study. "Businesses that demonstrate creative leadership and build regenerative capabilities will be best positioned to contend with the challenges and opportunities inherent in each of these trends."
Key points in the study include:
Biodiversity loss is reaching historic levels and could cost the global economy $2.7 trillion in annual global GDP by 2030, according to the World Bank.
Industrial policy, often driven by a need for greater national resilience and to offset geopolitical risk in global supply chains, continues to proliferate and is fueling growing cross-border tensions.
New forms of rapid transit, such as flying cars and the hyperloop, have the potential to rewire demographics and economics, but also imply safety risks and regulatory uncertainties.
Volumes of e-waste continue to grow exponentially, posing environmental challenges as well as potential economic opportunity?valued at some $62.5 billion each year?if appropriate recycling methods are widely applied.
And advances in digital-twin technology could create large-scale efficiency gains and foster new ways of thinking in urban planning, supply chain management, and business operations?as well as new commercial and cyber risks if abused by bad actors.
"Innovative approaches?technological or otherwise?are increasingly necessary to realize competitive advantage," adds Terry Toland, manager of thought leadership at the Global Business Policy Council and co-author of the study. "Each of these trends?and their interplay?reflects the growing complexity of the operating environment that business and government leaders must navigate."
Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen.?We work alongside our clients to regenerate their businesses to create a future that works for everyone. Learn more at http://www.kearney.com.
About the Global Business Policy Council
The Global Business Policy Council is a specialized foresight and strategic analysis unit within Kearney. Since its first CEO Retreat in 1992, the Council has been a strategic service for the world's top executives, government officials, and business-minded thought leaders. Through exclusive global forums, public-facing thought leadership, and advisory services, the Council helps to decipher sweeping geopolitical, economic, social, and technological changes and their effects on the global business environment. The Council consistently ranks near the top of the University of Pennsylvania's list of best private-sector think tanks.
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