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The summer of 2021 — with its record-breaking heatwaves, devastating floods and wildfires — has vividly illustrated the realities of climate change. This season has served as an uncomfortable reminder that the climate crisis has still barely been addressed, and it is clear that much, much more needs to be done as a global economy. This also means that tackling this problem presents us with significant growth opportunities.

The 16th edition of the World Economic Forum’s Global Risks Report is another reminder that failure to take action on climate change is the biggest risk we face as a species. In fact, it is the top risk not just by impact but also by likelihood...

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