SONAR 2021 identifies restarting of mothballed facilities as the largest short term emerging risk

Published: Tuesday, 08 June 2021 09:48

The Swiss Re Institute has published its SONAR 2021 which provides a wide-ranging analysis of emerging risks. The report finds that COVID-19 shaped the top two emerging risks this year.

The top emerging short term risk is the immediate danger from bringing mothballed facilities back online. Missed inspections and delayed maintenance increase the risk of larger accidents as operations resume at oil refineries, chemical plants, mines or power plants, says the report. The second big threat are ‘zombie’ companies, which are unviable firms that stayed afloat thanks to COVID-19 support but may go bankrupt once pandemic relief ends.

Looking further ahead, the report considers the threats engendered by climate change and threats related to increasing human-machine interactions.

Mothballed facilities

Elaborating on the threat from mothballed facilities the report says that:

More details.