About the survey and executive summary

About the survey

Global responses

The survey has grown yearly, covering a wide range of risks from climate change to cyber-attacks. It provides a global view of the perceptions of risk among directors, officers, and risk managers from countries around the world. Once again, this year’s survey provides insights into the distribution of companies by type, revenue and industry. For-profit, private companies are the most represented, accounting for 56% of the respondents, followed by for-profit, listed companies at 32%. In terms of revenue, 33% of the companies have revenues between $0 and $50 million, another 33% have revenues between $50 million and $1 billion. The services industry makes up the largest proportion of respondents followed by transportation and retail and finance and insurance.

Responses by country

Figure 4: Responses by country

Note: Percentages may not add up to 100% due to rounding.

Executive summary

Navigating today's boardroom risks and evolving threats

Health and safety

For the second year running, health and safety is the number one risk for directors and officers globally.
This year, we asked respondents to go further and explain what aspect of H&S was concerning them. 43% of respondents identified physical health and safety in the workplace as their top concern, while a further 28% identified workplace impact on mental health and wellbeing as their number 1 concern.
In the UK, the health and safety executive identified mental health as a concern they are targeting. In Australia, industrial manslaughter has now been introduced in all States and Territories, and a number of workplace legislative reforms came into effect in 2024.

Cybersecurity and AI

While cyber attack and data loss continue to rank highly, AI is not showing up as a concern.
61% of respondents consider that the board has the skills and knowledge to handle cybersecurity and data privacy matters; it is the second highest ranked matter on which they think the board should spend more time although only the 7th (out of 12) in terms of materiality to the business.
By contrast, AI is the lowest ranked in terms of skills and knowledge of the board, where the board needs to spend more time and materiality to the business.
As a risk for directors and officers, cyber attacks and data loss are ranked as 3rd and 2nd overall, although this does vary across different jurisdictions. AI is not ranked in the top seven in any region this year and is ranked below DEI, geo-political risks, pollution and climate change, by way of example.

Regulatory and litigation risks

Civil litigation has entered the top seven for the first time since 2018.
Regulatory risk continues to be highly ranked (it has been the number 4 risk overall in the last four surveys).

Climate and ESG risk strategy

Climate change and pollution have decreased in priority, but Social risks are increasing.
PFAS and biodiversity risks are increasing (from a low base).
Diversity, equity and inclusion concerns are gaining traction, entering the top seven in multiple regions and ranked above AI, geo-political risks, climate change and pollution (for example).
As mentioned, health and safety (another social risk) is the top risk for directors and officers as identified by the survey respondents.