The Global Risk Gap is Increasing . . .

The Global Risks 2007 report released this month forecasts a widening gap between "the potential of global risks to cause massive systemic disruption and the ability of business and government to mitigate them" in 2007. This is in the face of the rapid advancement of risk management understanding and methodology in the past few years. Interestingly, one of the major talking points emerging from the report – released in time for the World Economic Forum (WEF) which takes place in late March 2007 - is that of the proposed creation of a new senior government appointment.

The 'Country Risk Officer' is apparently modelled on the chief risk officer (CRO) role slowly being adopted by organisations globally. The concept relies heavily on collaboration between countries described in the report as "coalitions of the willing around specific global risk issues" and offering "dynamic interplay between governments and business".

What do you make of this suggestion? An interesting and viable concept or simply academic indulgence?