Davos report: Cost-of-living crisis overshadows climate

By KELVIN CHAN
AP Business Writer

LONDON (AP) — A report by the World Economic Forum says climate change is the global economy’s biggest long-term challenge but one the world is least prepared to tackle because of short-term problems led by a cost-of-living crisis. The group released its Global Risks Report ahead of its annual gathering of government leaders and business elites next week in the Swiss Alpine resort of Davos. The report offers a bleak outlook. It’s based on a survey of 1,200 risk experts, industry bosses and policymakers. It says the biggest challenges over the next decade involve the environment, yet more immediate challenges are distracting world leaders.