Global legal & risk forecast shows economic issues rising
Global Disputes Forecast 2023
What’s in this report from Baker McKenzie:
Cybersecurity and data disputes are likely to be the biggest risk to organizations in 2023, according to a Baker McKenzie survey of 600 senior legal and risk leaders from large organizations in the UK, U.S., Singapore and Brazil.
The survey found that 82% of respondents expect the number of disputes to climb or stay the same compared to 2022. Here’s a look at some other key findings:
- 33% of firms in manufacturing and transportation expect disputes to rise, the highest rate among all industries.
- 58% expect to encounter ESG disputes, with governance issues taking the lion’s share of the focus among ESG-related risks.
- The economic cycle (45%), stock market volatility (38%) and Covid-19 (30%) were the three most often-cited external risk factors.