News in brief: Wales, World Economic Forum, climate change

News in brief
News in brief

Welsh businesses called on to drive exports

Welsh businesses should showcase their innovation and excellence to the world by making 2016 the year of exports, according to Welsh Secretary Stephen Crabb and Trade and Investment Minister Lord Maude.

Both Ministers recently visited successful Welsh exporters including Airbus, Magellan Aerospace and financial services company DTCC, which has been expanding its workforce on the back of strong sales.

Secretary of State for Wales Stephen Crabb praised the country for being home to innovative and world-beating companies that have achieved great export success, but admitted he believed more could be done. He also pledged the support of the UK government.

Crabb said: “Together, we want to get 100,000 new companies across the UK exporting by 2020 – and I want to see Wales playing its part in achieving this goal.

“Last year 4,000 Welsh companies took their first steps into export, and this year we are already up to 3,000. I urge those companies considering exporting to go on the Exporting is GREAT website or come to the first ever Exporting is GREAT road show in Wales, which kicks off next month.”

World Economic Forum reports top risk for 2016 is climate change

The risk with the greatest potential global impact for 2016 has been reported as a failure of climate change mitigation and adaptation, according to the World Economic Forum’s Global Risks Report 2016. This is the first time since 2006 that an environmental risk has been top of the bill.

The report features perspectives from around 750 experts on the potential effects of 29 prevalent global risks over a 10-year timeframe. The risks include economic, environmental, geopolitical, societal and technological considerations.

The other high-importance risks were: weapons of mass destruction (2nd), water crises (3rd), large-scale involuntary migration (4th) and severe energy price shock (5th). The report also examines the relationships between these risks.