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Geneva, Switzerland and London, England (GenevaLunch) - The main lesson from 2009′s global financial and economic crises is that we need to recognize a fundamental need to change thinking on global risks and how they are managed, says the World Economic Forum. The Geneva-based group, which hosts its annual Davos meeting of world leaders 27-31 January in the Graubuenden resort, published its Global Risks Report 2010 Thursday 14 January. The reports’ authors call for “an overhaul of current values and behaviours by decision-makers to improve coordination and supervision”, saying that the governance gap remains too great.

The report is published annually, just ahead of the Davos meeting.

This year it points to “the impact of the fiscal crisis and the social and political implications of high unemployment rates in several major economies as key concerns.”

It notes that “current models for health, education and unemployment protection have been put under severe strain by the fiscal crisis, notwithstanding the longer-term implications of increasing life expectancy.”

The “creeping risk” of under-investment in energy and agriculture, and rising costs of chronic disease are two major concerns. The report cites a World Bank figure of $35 trillion needed in investments in infrastructure in these areas in the next 20 years. It says that levels of awareness and preparedness are currently very low for “transnational crime and corruption, cyber-vulnerability and biodiversity loss.”