Persistent economic weakness is sapping the ability of governments to tackle the growing threat of climate change and risks a global ''perfect storm'' of intertwined financial and ecological collapse, the World Economic Forum has warned.

In the run-up to its annual meeting in Davos this month, the WEF used its annual Global Risks report to urge policy leaders to step up their efforts to tackle the three big dangers cited by a panel of 1000 experts: severe income disparities, the indebted state of governments and rising greenhouse gas emissions.

Scorched earth … land almost stripped bare at Bungendore after it was devastated by fires this week. The World Economic Forum has warned of intertwined global financial and ecological collapse. Credit:Rohan Thomson

''These global risks are essentially a health warning regarding our most critical systems,'' the report's editor, Lee Howell, said.

The report showed that, for the second year running, the widening income gap, chronic fiscal imbalances and greenhouse gas emissions were seen as the three most likely threats to emerge over the coming decade.